AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON NOVEMBER 6, 2003

                                                     REGISTRATION NO. 333-
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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                             ---------------------

                                    FORM S-4
                             REGISTRATION STATEMENT
                                     UNDER
                           THE SECURITIES ACT OF 1933
                             ---------------------

                  THE HARTFORD FINANCIAL SERVICES GROUP, INC.
             (Exact name of registrant as specified in its charter)


                                                                    
              DELAWARE                               6411                              13-3317783
  (State or other jurisdiction of        (Primary Standard Industrial               (I.R.S. Employer
   incorporation or organization)        Classification Code Number)             Identification Number)


                                 HARTFORD PLAZA
                          HARTFORD, CONNECTICUT 06115
                                 (860) 547-5000
  (Address, including zip code, and telephone number, including area code, of
                   registrant's principal executive offices)
                             ---------------------
                PLEASE ADDRESS A COPY OF ALL COMMUNICATIONS TO:


                                                   
                    NEAL S. WOLIN                                         ALAN H. PALEY
    EXECUTIVE VICE PRESIDENT AND GENERAL COUNSEL                      DEBEVOISE & PLIMPTON
     THE HARTFORD FINANCIAL SERVICES GROUP, INC.                        919 THIRD AVENUE
                   HARTFORD PLAZA                                   NEW YORK, NEW YORK 10022
             HARTFORD, CONNECTICUT 06115                                 (212) 909-6000
                   (860) 547-5000
  (Name, address, including zip code, and telephone
                       number,
     including area code, of agent for service)


                             ---------------------
     APPROXIMATE DATE OF COMMENCEMENT OF THE PROPOSED SALE OF THE SECURITIES TO
THE PUBLIC:  As soon as practicable after this Registration Statement becomes
effective.
                             ---------------------
     If the securities being registered on this Form are being offered in
connection with the formation of a holding company and there is compliance with
General Instruction G, check the following box.  [ ]

     If this Form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act, check the following box and
list the Securities Act registration statement number of the earlier effective
registration statement for the same offering.  [ ]

     If this Form is a post-effective amendment filed pursuant to Rule 462(d)
under the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering.  [ ]

                        CALCULATION OF REGISTRATION FEE



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                                                                    PROPOSED MAXIMUM     PROPOSED MAXIMUM        AMOUNT OF
           TITLE OF EACH CLASS OF                AMOUNT TO BE        OFFERING PRICE         AGGREGATE           REGISTRATION
        SECURITIES TO BE REGISTERED               REGISTERED        PER SECURITY(1)     OFFERING PRICE(1)          FEE(2)
--------------------------------------------------------------------------------------------------------------------------------
                                                                                                
4.625% Senior Notes Due 2013................     $320,000,000             100%             $320,000,000           $25,888
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(1) Estimated solely for purposes of calculating the registration fee in
    accordance with Rule 457(f) under the Securities Act.

(2) The registration fee for the securities offered hereby has been calculated
    under Rule 457(f)(2) of the Securities Act.

     THE REGISTRANT HEREBY AMENDS THIS REGISTRATION STATEMENT ON SUCH DATE OR
DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL
FILE A FURTHER AMENDMENT WHICH SPECIFICALLY STATES THAT THIS REGISTRATION
STATEMENT SHALL THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION 8(a) OF
THE SECURITIES ACT OF 1933 OR UNTIL THIS REGISTRATION STATEMENT SHALL BECOME
EFFECTIVE ON SUCH DATE AS THE COMMISSION, ACTING PURSUANT TO SAID SECTION 8(a),
MAY DETERMINE.
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THE INFORMATION IN THIS PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. WE MAY
NOT SELL THESE SECURITIES UNTIL THE REGISTRATION STATEMENT FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER
TO SELL THESE SECURITIES AND IT IS NOT SOLICITING AN OFFER TO BUY THESE
SECURITIES IN ANY STATE WHERE THE OFFER OR SALE IS NOT PERMITTED.

                 SUBJECT TO COMPLETION, DATED NOVEMBER 6, 2003

PROSPECTUS

                  THE HARTFORD FINANCIAL SERVICES GROUP, INC.
        OFFER TO EXCHANGE UP TO $320,000,000 AGGREGATE PRINCIPAL AMOUNT
                      OF OUR 4.625% SENIOR NOTES DUE 2013,
          WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
         FOR ANY AND ALL OF THE $320,000,000 AGGREGATE PRINCIPAL AMOUNT
          OF OUR OUTSTANDING UNREGISTERED 4.625% SENIOR NOTES DUE 2013

           THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., EASTERN TIME
                  ON                  , 2003, UNLESS EXTENDED.

     - We are offering to exchange $320,000,000 aggregate principal amount of
       our 4.625% Senior Notes due July 15, 2013, which are referred to in this
       prospectus as the new notes, for all $320,000,000 aggregate principal
       amount of our unregistered 4.625% Senior Notes due July 15, 2013, which
       are referred to in this prospectus as the old notes. We refer to the new
       notes and the old notes collectively as "the notes".

     - The terms of the new notes will be substantially identical to the old
       notes that we issued on July 10, 2003, except that the new notes will be
       registered under the Securities Act of 1933 (the "Securities Act") and
       will not be subject to the registration rights, additional interest
       provisions and transfer restrictions applicable to the old notes.

     - Interest on the new notes will accrue from July 10, 2003 at a rate of
       4.625% per year, payable semi-annually in arrears on January 15 and July
       15 of each year, beginning January 15, 2004.

     - Subject to the terms of the exchange offer, all old notes that are
       validly tendered and not withdrawn prior to expiration of the exchange
       offer will be exchanged for an equal principal amount of new notes.

     - Tenders of old notes may be withdrawn any time prior to the expiration of
       the exchange offer.

     - The exchange of old notes for new notes in the exchange offer should not
       be a taxable event for U.S. holders for U.S. federal income tax purposes.

     - We will not receive any proceeds from the exchange offer.

     - No public market exists for the old notes or the new notes, and we do not
       intend to apply for their listing on any national securities exchange or
       to arrange for them to be quoted on any automated dealer quotation
       system.

     Neither the Securities and Exchange Commission (the "SEC") nor any state
securities commission has approved or disapproved of these securities or
determined if this prospectus is truthful or complete. They have not made, nor
will they make, any determination as to whether anyone should buy these
securities. Any representation to the contrary is a criminal offense.
                The date of this prospectus is           , 2003


                               TABLE OF CONTENTS



                                                              PAGE
                                                              ----
                                                           
ABOUT THIS PROSPECTUS.......................................   ii
FORWARD-LOOKING STATEMENTS..................................   ii
PROSPECTUS SUMMARY..........................................    1
USE OF PROCEEDS.............................................    6
CAPITALIZATION..............................................    7
RATIO OF CONSOLIDATED EARNINGS TO TOTAL FIXED CHARGES.......    8
THE EXCHANGE OFFER..........................................    9
DESCRIPTION OF THE NEW NOTES................................   17
CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS..............   26
ERISA CONSIDERATIONS........................................   27
PLAN OF DISTRIBUTION........................................   28
LEGAL OPINIONS..............................................   29
EXPERTS.....................................................   29
WHERE YOU CAN FIND MORE INFORMATION.........................   29
INCORPORATION BY REFERENCE..................................   30


     THIS PROSPECTUS INCORPORATES IMPORTANT BUSINESS AND FINANCIAL INFORMATION
ABOUT US THAT IS NOT INCLUDED IN OR DELIVERED WITH THIS PROSPECTUS. THIS
INFORMATION IS AVAILABLE WITHOUT CHARGE TO YOU UPON WRITTEN OR ORAL REQUEST. IF
YOU WOULD LIKE A COPY OF ANY OF THIS INFORMATION, PLEASE SUBMIT YOUR REQUEST TO
THE HARTFORD FINANCIAL SERVICES GROUP, INC., HARTFORD PLAZA, HARTFORD,
CONNECTICUT 06115, ATTENTION: BRIAN S. BECKER, SENIOR VICE PRESIDENT AND
CORPORATE SECRETARY (TELEPHONE: 860-547-5000).

     IN ORDER TO OBTAIN TIMELY DELIVERY OF ANY INFORMATION THAT YOU REQUEST, YOU
MUST SUBMIT YOUR REQUEST NO LATER THAN           , 2003, WHICH IS FIVE BUSINESS
DAYS BEFORE THE DATE THE EXCHANGE OFFER EXPIRES.


                             ABOUT THIS PROSPECTUS

     This prospectus is part of a registration statement on Form S-4 that we
have filed with the SEC pursuant to the Securities Act. We are submitting this
prospectus to holders of old notes so they can consider exchanging their old
notes for new notes. We may add, update or change information contained in this
prospectus through one or more supplements to this prospectus. Any statement
that we make in this prospectus will be modified or superseded by any
inconsistent statement made by us in a prospectus supplement. The rules of the
SEC allow us to incorporate by reference information into this prospectus. This
information incorporated by reference is considered to be a part of this
prospectus, and information that we file later with the SEC will automatically
update and supersede this information. See "Incorporation by Reference." You
should read both this prospectus and any prospectus supplement together with the
additional information described under the heading "Where You Can Find More
Information."

     No person has been authorized to give any information or to make any
representations, other than those contained or incorporated by reference in this
prospectus and, if given or made, such information or representations must not
be relied upon as having been authorized by The Hartford Financial Services
Group, Inc. or any underwriter, agent, dealer or remarketing firm. Neither the
delivery of this prospectus nor any sale made hereunder shall under any
circumstances create any implication that there has been no change in the
affairs of The Hartford Financial Services Group, Inc. since the date hereof or
that the information contained or incorporated by reference herein is correct as
of any time subsequent to the date of such information. We are not making the
exchange offer to, and we will not accept surrenders for exchange from, holders
of old notes in any jurisdiction in which the exchange offer or the acceptance
of the exchange offer would violate the securities or other laws of that
jurisdiction.

     Unless otherwise indicated, or the context otherwise requires, references
in this prospectus to "The Hartford," "we," "us" and "our" or similar terms are
to The Hartford Financial Services Group, Inc. and its subsidiaries.

                           FORWARD-LOOKING STATEMENTS

     Certain of the statements contained in this prospectus or incorporated by
reference are forward-looking statements. These forward-looking statements are
made pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and include estimates and assumptions related to economic,
competitive and legislative developments. These forward-looking statements are
subject to change and uncertainty which are, in many instances, beyond our
control and have been made based upon management's expectations and beliefs
concerning future developments and their potential effect upon us. There can be
no assurance that future developments will be in accordance with management's
expectations or that the effect of future developments on us will be those
anticipated by management. Actual results could differ materially from those
expected by us, depending on the outcome of various factors. These factors
include:

     - the difficulty in predicting our potential exposure for asbestos and
       environmental claims and related litigation, in particular, significant
       uncertainty with regard to the outcome of our current dispute with Mac
       Arthur Company and its subsidiary, Western MacArthur Company;

     - the uncertain nature of damage theories and loss amounts and the
       development of additional facts related to the September 11 terrorist
       attack;

     - the uncertain effect on us of the Jobs and Growth Tax Relief
       Reconciliation Act of 2003, in particular the reduction in tax rates on
       long-term capital gains and most dividend distributions;

     - the response of reinsurance companies under reinsurance contracts, the
       impact of increasing reinsurance rates, and the availability and adequacy
       of reinsurance to protect us against losses;

     - the inability to effectively mitigate the impact of equity market
       volatility on our financial position and results of operations arising
       from obligations under annuity product guarantees;

     - the possibility of more unfavorable loss experience than anticipated;

                                        ii


     - the possibility of general economic and business conditions that are less
       favorable than anticipated;

     - the incidence and severity of catastrophes, both natural and man-made;

     - the effect of changes in interest rates, the stock markets or other
       financial markets;

     - stronger than anticipated competitive activity;

     - unfavorable legislative, regulatory or judicial developments;

     - our ability to distribute our products through distribution channels,
       both current and future;

     - the uncertain effects of emerging claims and coverage issues;

     - the effect of assessments and other surcharges for guaranty funds and
       second-injury funds and other mandatory pooling arrangements;

     - a downgrade in our claims-paying, financial strength or credit ratings;

     - the ability of our subsidiaries to pay dividends to us; and

     - other factors described in such forward-looking statements.

                                       iii


                               PROSPECTUS SUMMARY

     The following summary highlights selected information contained or
incorporated by reference in this prospectus and does not contain all the
information that may be important to you. For a more complete understanding of
the exchange offer, our company, and the new notes, we encourage you to read
this entire prospectus carefully, including the financial data and related notes
and the documents incorporated by reference in this prospectus, before making a
decision to participate in the exchange offer.

                  THE HARTFORD FINANCIAL SERVICES GROUP, INC.

     We are a diversified insurance and financial services holding company. We
are among the largest providers of investment products, individual life, group
life and disability insurance products, and property and casualty insurance
products in the United States. Hartford Fire Insurance Company, or Hartford
Fire, founded in 1810, is the oldest of our subsidiaries. Our companies write
insurance primarily in the United States. At September 30, 2003, our total
assets were $211.36 billion and our total stockholders' equity was $11.34
billion.

     We were formed in December 1985 as a wholly owned subsidiary of ITT
Corporation. On December 19, 1995, all our outstanding shares were distributed
to ITT Corporation's stockholders and we became an independent company. On May
2, 1997, we changed our name from ITT Hartford Group, Inc. to our current name,
The Hartford Financial Services Group, Inc.

     As a holding company that is separate and distinct from our insurance
subsidiaries, we have no significant business operations of our own. Therefore,
we rely on the dividends from our insurance company and other subsidiaries as
the principal source of cash flow to meet our obligations. These obligations
include payments on our debt securities and the payment of dividends on our
capital stock, including preferred stock. The Connecticut insurance holding
company laws limit the payment of dividends by Connecticut-domiciled insurers.
Under these laws, the insurance subsidiaries may only make their dividend
payments out of surplus. In addition, these laws require notice to and approval
by the Connecticut Insurance Commissioner for the declaration or payment by
those subsidiaries of any dividend if the dividend and other dividends or
distributions made within the preceding twelve months exceeds the greater of:

     - 10% of the insurer's policyholder surplus as of December 31 of the
       preceding year, or

     - net income, or net gain from operations if the subsidiary is a life
       insurance company, for the previous calendar year, in each case
       determined under statutory insurance accounting principles.

In addition, if any dividend of a Connecticut-domiciled insurer exceeds the
insurer's earned surplus, calculated in accordance with the applicable insurance
holding company laws, it requires the prior approval of the Connecticut
Insurance Commissioner.

     The insurance holding company laws of the other jurisdictions in which our
insurance subsidiaries are incorporated, or deemed commercially domiciled,
generally contain similar, and in some instances more restrictive, limitations
on the payment of dividends. As of November 1, 2003, our insurance subsidiaries
are permitted to pay us up to a maximum of approximately $1.1 billion in
dividends for the remainder of 2003 without prior approval.

     Our rights to participate in any distribution of the assets of any of our
subsidiaries, such as in a liquidation or reorganization, and the ability of
holders of the securities to benefit indirectly from a distribution, are subject
to the prior claims of creditors of the applicable subsidiary, except to the
extent that we may be a creditor of that subsidiary. Claims on these
subsidiaries by persons other than us include, as of September 30, 2003, claims
by policyholders for benefits payable amounting to $57.04 billion, claims by
separate account holders of $125.11 billion, and other liabilities including
claims of trade creditors, claims from guaranty associations and claims from
holders of debt obligations amounting to $17.87 billion.

     Our principal executive offices are located at Hartford Plaza, Hartford,
Connecticut 06115, and our telephone number is (860) 547-5000.

                                        1


                               THE EXCHANGE OFFER

     The summary below describes the principal terms of the exchange offer.
Certain of the terms and conditions described below are subject to important
limitations and exceptions. "The Exchange Offer" section of this prospectus
contains a more detailed description of the terms and conditions of the exchange
offer.

The Private Offering..........   On July 10, 2003, we issued $320 million in
                                 aggregate principal amount of old notes in a
                                 private offering. In connection with that
                                 offering, we entered into a registration rights
                                 agreement in which we agreed, among other
                                 things, to complete an exchange offer for the
                                 old notes.

The Exchange Offer............   We are offering to exchange the new notes for a
                                 like principal amount of old notes. Old notes
                                 may be tendered, and new notes will be issued,
                                 only in integral denominations of $1,000 and
                                 integral multiples of $1,000.

                                 The terms of the new notes will be identical in
                                 all material respects to the terms of the old
                                 notes except that the new notes will be
                                 registered under the Securities Act and will
                                 not be subject to the registration rights,
                                 additional interest provisions and transfer
                                 restrictions applicable to the old notes.

                                 Subject to the satisfaction or waiver of
                                 specified conditions, we will exchange new
                                 notes for all the old notes that are validly
                                 tendered and not validly withdrawn prior to the
                                 expiration of the exchange offer. We will cause
                                 the exchange to be effected promptly after the
                                 expiration of the exchange offer. See "The
                                 Exchange Offer -- Terms of the Exchange Offer."

Expiration Date...............   The exchange offer will expire at 5:00 p.m.,
                                 Eastern Time on           , 2003, unless we, in
                                 our sole discretion, extend it, in which case
                                 the expiration date shall be the latest date to
                                 which the exchange offer is extended. We do not
                                 currently intend to extend the expiration date.

Procedures For Tendering......   If you wish to accept the exchange offer and
                                 your old notes are held by a custodial entity
                                 such as a bank, broker, dealer, trust company
                                 or other nominee, you must instruct the
                                 custodial entity to tender your old notes on
                                 your behalf pursuant to the procedures of the
                                 custodial entity. If your old notes are
                                 registered in your name, you must complete,
                                 sign and date the accompanying letter of
                                 transmittal, or a facsimile of the letter of
                                 transmittal, according to the instructions
                                 contained in this prospectus and the letter of
                                 transmittal. You then must mail or otherwise
                                 deliver the letter of transmittal, or a
                                 facsimile of the letter of transmittal,
                                 together with the old notes and any other
                                 required documents, to the exchange agent prior
                                 to 5:00 p.m. Eastern time, on the expiration
                                 date at the address set forth on the cover page
                                 of the letter of transmittal.

                                 Custodial entities that are participants in The
                                 Depository Trust Company, which we refer to as
                                 the "Depositary" or "DTC," must tender old
                                 notes through DTC's Automated Tender Offer
                                 Program which enables a custodial entity, and
                                 the beneficial owner on whose behalf the
                                 custodial entity is acting, to electronically
                                 agree to be bound by the letter of transmittal.
                                 A confirmation of such book-entry transfer of
                                 such old notes into the exchange agent's
                                 account at DTC must be received by the exchange
                                 agent prior to 5:00 p.m.

                                        2


                                 Eastern time, on the expiration date. A letter
                                 of transmittal need not accompany tenders
                                 effected through the Automated Tender Offer
                                 Program, which we refer to as the ATOP.

                                 By tendering your old notes in either of these
                                 manners, you will make and agree to the
                                 representations that appear under "The Exchange
                                 Offer -- Procedures for Tendering."

Guaranteed Delivery
Procedures....................   If you wish to tender your old notes, but
                                 cannot properly do so prior to the expiration
                                 date, you may tender your old notes according
                                 to the guaranteed delivery procedures set forth
                                 in "The Exchange Offer -- Guaranteed Delivery
                                 Procedures."

Resale of New Notes...........   Under existing interpretations of the
                                 Securities Act by the staff of the SEC
                                 contained in several no-action letters to third
                                 parties, we believe that the new notes will
                                 generally be freely transferable by holders
                                 thereof after the exchange offer without
                                 further registration under the Securities Act
                                 (subject to certain representations required to
                                 be made by each holder, as set forth under "The
                                 Exchange Offer -- Procedures for Tendering").
                                 However, any holder who (1) is one of our
                                 "affiliates," (2) intends to participate in the
                                 exchange offer for the purpose of distributing
                                 the new notes or (3) is a broker-dealer
                                 receiving new notes for its own account in
                                 exchange for old notes that were acquired as a
                                 result of market-making activities or other
                                 trading activities, (x) will not be able to
                                 rely on the interpretation of the staff of the
                                 SEC and (y) must comply with the registration
                                 and prospectus delivery requirements of the
                                 Securities Act in connection with any sale or
                                 transfer of the notes unless such sale or
                                 transfer is made pursuant to an exemption from
                                 such requirements.

                                 We do not intend to seek our own interpretation
                                 regarding the exchange offer and there can be
                                 no assurance that the staff of the SEC would
                                 make a similar determination with respect to
                                 the new notes as it has in other
                                 interpretations to other parties, although we
                                 have no reason to believe otherwise.

Consequences of Failure to
Exchange......................   Old notes that are not tendered in the exchange
                                 offer, are tendered but not accepted or are
                                 tendered but subsequently validly withdrawn
                                 will continue to bear a legend restricting
                                 their transfer. You will not be able to offer
                                 or sell the old notes unless:

                                 - each offer or sale is made pursuant to an
                                   exemption from the requirements of the
                                   Securities Act; or

                                 - the old notes are registered under the
                                   Securities Act.

                                 After the exchange offer is closed, we will no
                                 longer have an obligation to register the old
                                 notes except in some limited circumstances.
                                 Therefore, upon completion of the exchange
                                 offer, there may be no market for the old notes
                                 and you may have difficulty selling them.

Withdrawal of Tenders.........   You may withdraw the surrender of your old
                                 notes at any time prior to the expiration date.

Conditions to the Exchange
Offer.........................   The exchange offer is subject to customary
                                 conditions, which we may assert or waive. See
                                 "The Exchange Offer -- Conditions to the
                                 Exchange Offer."

                                        3


Appraisal Rights..............   You will not be entitled to any appraisal or
                                 dissenters' rights in connection with the
                                 exchange offer.

U.S. Federal Income Tax
Considerations................   The exchange of old notes for new notes in the
                                 exchange offer should not be a taxable event
                                 for U.S. federal income tax purposes. See
                                 "Certain U.S. Federal Income Tax
                                 Considerations."

Exchange Agent................   JPMorgan Chase Bank is serving as the exchange
                                 agent in connection with the exchange offer.
                                 JPMorgan Chase Bank also serves as trustee
                                 under the indenture relating to the notes. The
                                 address and telephone number of the exchange
                                 agent are set forth under the caption "The
                                 Exchange Offer -- Exchange Agent."

                                 THE NEW NOTES

     The summary below describes the principal terms of the new notes. The terms
of the new notes are identical in all material respects to the terms of the old
notes, except that the registration rights, additional interest provisions and
transfer restrictions applicable to the old notes are not applicable to the new
notes. The new notes will evidence the same debt as the old notes. The new notes
and the old notes will be governed by the same indenture. The "Description of
the New Notes" section of this prospectus contains a more detailed description
of the terms and conditions of the new notes.

Securities Offered............   4.625% Senior Notes due July 15, 2013.

Interest Payment Dates........   We will pay interest on the new notes
                                 semi-annually in arrears on January 15 and July
                                 15 of each year, beginning on January 15, 2004.

Ranking.......................   The new notes will be unsecured and will rank
                                 equally with all of our other unsecured and
                                 unsubordinated obligations from time to time
                                 outstanding.

Redemption....................   We may redeem the new notes, in whole or in
                                 part, at any time at the redemption price
                                 described under "Description of the New
                                 Notes -- Redemption."

Covenants.....................   The indenture governing the notes contains
                                 covenants that limit our ability to:

                                 - incur debt secured by liens; and

                                 - merge, consolidate or transfer all or
                                   substantially all of our assets.

                                 These covenants are subject to important
                                 exceptions and qualifications that are
                                 described under "Description of the New Notes."

Lack of Public Market.........   There is no existing trading market for the new
                                 notes, and there can be no assurance regarding
                                 any future development of a trading market for
                                 the new notes or the ability of holders of the
                                 new notes to sell their new notes or the price
                                 at which such holders may be able to sell their
                                 new notes.

Use of Proceeds...............   We will not receive any proceeds from the
                                 exchange offer. See "Use of Proceeds."

                                        4


                         SELECTED FINANCIAL INFORMATION

     The selected income statement information for each of the years during the
three year period ended December 31, 2002 and the selected balance sheet
information at each of December 31, 2002 and December 31, 2001 in the table
below were derived from our audited consolidated financial statements which have
been audited by Deloitte & Touche LLP, independent public accountants. The
selected income statement information for each of the years during the two year
period ended December 31, 1999 and the selected balance sheet information at
each of December 31, 2000, December 31, 1999 and December 31, 1998 were derived
from our audited consolidated financial statements which were audited by Arthur
Andersen LLP, independent public accountants. The selected financial information
at and for the nine months ended September 30, 2003 and 2002 was derived from
our unaudited condensed consolidated financial statements which have been
reviewed by Deloitte & Touche LLP and include all adjustments, consisting of
normal recurring accruals, which we consider necessary for a fair presentation
of our financial position and results of operations as of those dates and for
those periods. In addition, material intercompany transactions and balances have
been eliminated. This table should be read in conjunction with our consolidated
financial statements and the related notes that are incorporated by reference in
this prospectus.



                                NINE MONTHS ENDED
                                  SEPTEMBER 30,                    YEAR ENDED DECEMBER 31,
                               -------------------   ----------------------------------------------------
                                 2003       2002       2002       2001       2000       1999       1998
                               --------   --------   --------   --------   --------   --------   --------
                                                (IN MILLIONS, EXCEPT FOR PER SHARE DATA)
                                                                            
INCOME STATEMENT DATA
Revenues(1)..................  $ 13,960   $ 12,137   $ 16,417   $ 15,980   $ 15,312   $ 13,945   $ 15,381
                               ========   ========   ========   ========   ========   ========   ========
Net income (loss)(2)(3)......  $   (545)  $    742   $  1,000   $    507   $    974   $    862   $  1,015
                               ========   ========   ========   ========   ========   ========   ========
Earnings (loss) Per Share
  Data:
  Basic(2)(3)................  $  (2.03)  $   3.00   $   4.01   $   2.13   $   4.42   $   3.83   $   4.36
  Diluted(2)(3)..............  $  (2.03)  $   2.96   $   3.97   $   2.10   $   4.34   $   3.79   $   4.30
Dividends declared per common
  share......................  $   0.81   $   0.78   $   1.05   $   1.01   $   0.97   $   0.92   $   0.85
BALANCE SHEET DATA
Assets.......................  $211,365   $175,539   $181,975   $181,593   $171,951   $167,486   $150,632
                               ========   ========   ========   ========   ========   ========   ========
Long-term debt...............  $  3,660   $  2,595   $  2,596   $  1,965   $  1,862   $  1,548   $  1,548
Company obligated mandatorily
  redeemable preferred
  securities of subsidiary
  trusts holding solely
  junior subordinated
  debentures.................  $    962   $  1,461   $  1,468   $  1,412   $  1,243   $  1,250   $  1,250
Total stockholders' equity...  $ 11,344   $ 10,943   $ 10,734   $  9,013   $  7,464   $  5,466   $  6,423
                               ========   ========   ========   ========   ========   ========   ========


---------------

(1) The year ended December 31, 2001 includes a $91 reduction in premiums from
    reinsurance cessions related to the terrorist attack on September 11, 2001.
    1998 includes $541 related to the recapture of an in force block of
    Corporate Owned Life Insurance business from MBL Life Assurance Co. of New
    Jersey. 1998 includes revenues of $1,117 from London & Edinburgh, which was
    sold in November 1998.

(2) The nine months ended September 30, 2003 includes an after-tax charge of
    $1,701 ($6.32 per basic and $6.30 per diluted share) related to the
    Company's 2003 asbestos reserve addition. The year ended December 31, 2001
    includes $440 of losses ($1.85 per basic and $1.82 per diluted share)
    related to the terrorist attack on September 11, 2001.

(3) The year ended December 31, 2001 includes a $34 after-tax charge ($0.14 per
    basic and diluted share) related to the cumulative effect of accounting
    changes for our adoption of SFAS No. 133, "Accounting for Derivative
    Instruments and Hedging Activities" and Emerging Issues Task Force Issue
    99-20, "Recognition of Interest Income and Impairment on Purchased and
    Retained Beneficial Interests in Securitized Financial Assets."

                                        5


                                USE OF PROCEEDS

     The exchange offer is intended to satisfy our obligations under the
registration rights agreement we executed when we issued the old notes. We will
not receive any cash proceeds from the exchange offer. In exchange for the old
notes that you validly tender pursuant to the exchange offer, you will receive
new notes in like principal amount. The old notes that are surrendered in
exchange for the new notes will be retired and canceled by us upon receipt and
cannot be reissued. Accordingly, the issuance of the new notes under the
exchange offer will not result in any change in our outstanding debt.

     We used the net proceeds from the sale of the old notes, plus available
cash, to redeem $320 million net aggregate principal amount of our 7.70% Junior
Subordinated Deferrable Interest Debentures, Series A, due February 28, 2016,
underlying the 7.70% Cumulative Quarterly Income Preferred Securities, Series A,
originally issued by Hartford Capital I (of which approximately $320 million
were outstanding on September 30, 2003).

                                        6


                                 CAPITALIZATION

     The following table sets forth as of September 30, 2003 on a consolidated
basis our actual capitalization:

     The following data is qualified in its entirety by our financial statements
and other information contained elsewhere in this prospectus or incorporated by
reference.



                                                              AS OF SEPTEMBER 30, 2003
                                                              ------------------------
                                                                       ACTUAL
                                                              ------------------------
                                                           
Short-Term Debt (includes current maturities of long-term
  debt).....................................................          $   515
Long-Term Debt..............................................            3,660
Company obligated mandatorily redeemable preferred
  securities of subsidiary trusts holding solely junior
  subordinated debentures (trust preferred securities)......              962
Equity excluding accumulated other comprehensive income, net
  of tax....................................................            9,987
Accumulated other comprehensive income, net of tax..........            1,357
                                                                      -------
  Total Stockholders' Equity................................           11,344
                                                                      -------
  Total Capitalization......................................          $16,481
                                                                      =======


                                        7


             RATIO OF CONSOLIDATED EARNINGS TO TOTAL FIXED CHARGES

     For purposes of computing the ratio of consolidated earnings to total fixed
charges, "earnings" consist of income from operations before U.S. federal income
taxes and fixed charges. "Fixed charges" consist of interest expense (including
interest credited to contract holders), capitalized interest, amortization of
debt expense and an imputed interest component for rental expense.

     The following table sets forth our ratio of consolidated earnings to total
fixed charges for the years and the periods indicated ($ in millions):



                                             NINE MONTHS
                                           ENDED SEPTEMBER
                                                 30,                 YEAR ENDED DECEMBER 31,
                                           ----------------    ------------------------------------
                                            2003      2002     2002    2001    2000    1999    1998
                                           -------    -----    ----    ----    ----    ----    ----
                                                                          
Ratio of Consolidated Earnings to Total
  Fixed Charges..........................      NM(1)   1.7     1.8     1.2(2)  2.1     1.9     1.9
Deficiency of Consolidated Earnings to
  Total Fixed Charges....................  $1,160(3)    --      --      --      --      --      --


---------------

(1) NM: not meaningful.

(2) For 2001, the calculation of the ratio of consolidated earnings to total
    fixed charges reflects before-tax losses of $678 million relating to the
    terrorist attack on September 11, 2001.

(3) Represents additional earnings that would be necessary to result in a one to
    one ratio of consolidated earnings to total fixed charges. This amount
    reflects a before-tax charge of $2.6 billion related to our 2003 asbestos
    reserve addition.

                                        8


                               THE EXCHANGE OFFER

PURPOSE AND EFFECT OF THE EXCHANGE OFFER

     We issued the old notes on July 10, 2003 in a transaction exempt from the
registration requirements of the Securities Act. Concurrently, the initial
purchasers of the old notes resold the old notes to investors believed to be
"qualified institutional buyers" in reliance upon the exemption from
registration provided by Rule 144A under the Securities Act and to investors
outside the United States in compliance with Regulation S of the Securities Act.

     As a condition to the initial sale of the old notes, we entered into a
registration rights agreement with the initial purchasers of the old notes
pursuant to which we agreed to use our reasonable best efforts to:

     - file a registration statement relating to a registered exchange offer for
       the notes with the SEC no later than the 120th day after the date that
       the old notes were first issued;

     - cause the SEC to declare the registration statement effective under the
       Securities Act no later than the 210th day after the old notes were first
       issued;

     - keep the registration statement effective until the completion of the
       exchange offer; and

     - complete the exchange offer no later than the 240th day after the old
       notes were first issued.

     We have agreed to issue and exchange the new notes for all old notes
validly tendered and not validly withdrawn prior to the expiration of the
exchange offer. A copy of the registration rights agreement is being filed
herewith. The filing of the registration statement is intended to satisfy some
of our obligations under the registration rights agreement.

     The term "holder" with respect to the exchange offer means any person in
whose name old notes are registered on the trustee's books or any other person
who has obtained a properly completed bond power from the registered holder, or
any person whose old notes are held of record by DTC who desires to deliver the
old notes by book-entry transfer at DTC.

TERMS OF THE EXCHANGE OFFER

     Upon the terms and subject to the conditions set forth in this prospectus
and in the accompanying letter of transmittal, we will accept any and all old
notes validly tendered prior to 5:00 p.m., Eastern Time, on the expiration date.
See "-- Expiration Date, Extensions, Terminations and Amendments" below for an
explanation of how the expiration date may be extended. Upon satisfaction or
waiver of all of the conditions to the exchange offer, we will issue, promptly
after the expiration date, an aggregate principal amount of up to $320 million
of new notes in exchange for a like principal amount of outstanding old notes
tendered and accepted in connection with the exchange offer. The new notes
issued in connection with the exchange offer will be delivered on the earliest
reasonably practicable date following the expiration date. Holders may tender
some or all of their old notes in connection with the exchange offer but only in
denominations of $1,000 and integral multiples of $1,000. The exchange is not
conditioned upon any number or aggregate principal amount of old notes being
tendered.

     The form and terms of the new notes are identical in all material respects
to the form and terms of the old notes, except that the new notes will be
registered under the Securities Act and will not be subject to the registration
rights, additional interest provisions and transfer restrictions applicable to
the old notes. The new notes will evidence the same debt as the old notes and
will be issued under the same indenture and be entitled to the same benefits
under that indenture as the old notes being exchanged. Interest on each new note
will accrue from the last date on which interest was paid on the old note
surrendered in exchange therefor (unless issued after a record date for an
interest payment and prior to the related interest payment date, in which case
interest will accrue from such interest payment date) or, if no interest has
been paid, from the original issue date of the old note. As of the date of this
prospectus, $320 million in aggregate principal amount of the old notes is
outstanding. Substantially all of the principal amount of the old notes is
registered in the name of The Depository Trust Company ("DTC") or its nominee.
                                        9


     In connection with the issuance of the old notes, we arranged for the old
notes originally purchased by qualified institutional buyers to be issued and
transferable in book-entry form through the facilities of DTC. Initially, the
new notes will be issued in the form of global notes registered in the name of
DTC or its nominee and each beneficial owner's interest in the global notes will
be transferable in book-entry form through DTC. See "Description of the New
Notes -- Book-Entry, Delivery and Form."

     Solely for reasons of administration, we have fixed the close of business
on           , 2003 as the record date for the exchange offer for purposes of
determining the persons to whom this prospectus and the letter of transmittal
will be mailed initially. There will be no fixed record date for determining
holders of the old notes entitled to participate in the exchange offer.

     Holders of old notes do not have any appraisal or dissenters' rights in
connection with the exchange offer. We intend to conduct the exchange offer in
accordance with the requirements of the registration rights agreement and the
applicable requirements of the Securities Exchange Act of 1934 (the "Exchange
Act") and the related SEC rules and regulations.

     Old notes that are not tendered in the exchange offer, are tendered but not
accepted or are tendered but subsequently validly withdrawn in connection with
the exchange offer will remain outstanding, will continue to accrue interest and
will be entitled to the benefits of the indenture under which they were issued.
However, some registration and other rights under the registration rights
agreement will terminate, and holders of the old notes generally will not be
entitled to any registration rights under the registration rights agreement,
subject to limited exceptions. See "-- Consequences of Failing to Tender Old
Notes in the Exchange Offer" and "-- Shelf Registration Statement" below.

     Upon satisfaction or waiver of all of the conditions to the exchange offer,
we will accept all old notes validly tendered and will issue the new notes
promptly after the expiration date. See "-- Conditions to the Exchange Offer"
below.

     If any tendered old notes are not accepted for exchange because of an
invalid tender, the occurrence of certain other events described in this
prospectus, or otherwise, we will return the old notes, without expense, to the
tendering holder as promptly as possible after the expiration date. Any old
notes not accepted for exchange for any reason will be returned without expense
to the tendering holder as promptly as practicable after the expiration or
termination of the exchange offer.

     Holders who tender old notes will be required to pay brokerage commissions
or fees, if any. However, subject to the instructions in the letter of
transmittal, holders who tender old notes will, in certain circumstances, be
required to pay transfer taxes on the exchange of old notes in connection with
the exchange offer. We will pay certain other charges and expenses in connection
with the exchange offer. See "-- Fees and Expenses" below.

EXPIRATION DATE, EXTENSIONS, TERMINATION AND AMENDMENTS

     The expiration date for the exchange offer is 5:00 p.m., Eastern Time, on
          , 2003, the 20th business day following the date of this prospectus.
We may, however, in our sole discretion, extend the period of time that the
exchange offer is open, in which case the term "expiration date" for the
exchange offer shall mean the latest date and time to which the exchange offer
is extended.

     We expressly reserve the right, at any time, to extend the period of time
that the exchange offer is open, and delay acceptance for exchange of any old
notes, by giving oral or written notice of an extension to the holders of old
notes as described below. During any extension, all old notes previously
tendered will remain subject to the exchange offer and may be accepted for
exchange by us.

     We expressly reserve the right to amend or terminate the exchange offer,
and not to accept for exchange any old notes, upon the occurrence of any of the
conditions of the exchange offer specified under "-- Conditions to the Exchange
Offer" below. We will give oral or written notice of any extension, amendment,
non-acceptance or termination to the holders of the old notes as promptly as
practicable.

                                        10


CONDITIONS TO THE EXCHANGE OFFER

     Our obligation to consummate the exchange offer is subject to the following
conditions:

     - the exchange offer or the making of any exchange by a holder does not
       violate applicable law or any applicable interpretation of the staff of
       the SEC;

     - the due tendering of the old notes in accordance with the exchange offer;

     - no action or proceeding shall have been instituted or threatened in any
       court or by or before any governmental agency with respect to the
       exchange offer, which, in our judgment, would reasonably be expected to
       impair our ability to proceed with the exchange offer; and

     - each holder of the old notes to be exchanged in the exchange offer shall
       have represented that:

      -- any new notes to be received by the holder will be acquired in the
         ordinary course of its business;

      -- the holder has no arrangement or understanding with any person to
         participate in the distribution of the new notes (within the meaning of
         the Securities Act);

      -- the holder is not an "affiliate" of ours as defined in Rule 405 under
         the Securities Act, or, if the holder is our affiliate, the holder will
         comply with the registration and prospectus delivery requirements of
         the Securities Act to the extent applicable;

      -- if the holder is not a broker-dealer, the holder is not engaged in, and
         does not intend to engage in, the distribution of the new notes;

      -- if the holder is a broker-dealer, the holder will receive new notes for
         the holder's own account in exchange for old notes that were acquired
         as a result of market-making activities or other trading activities and
         that the holder will deliver a prospectus in connection with any resale
         of such new notes; and

      -- the holder is not acting on behalf of any person who could not
         truthfully make the foregoing representations.

     The exchange offer is not being made to, nor will we accept tenders for
exchange from, holders of old notes in any jurisdiction in which the exchange
offer or the acceptance of it would not be in compliance with the securities or
blue sky laws of such jurisdiction.

     If you wish to participate in the exchange offer, you must represent to us
in the letter of transmittal or through DTC's Automated Tender Offer Program
(ATOP) that the representations listed above are true and correct. Under
existing interpretations of the Securities Act by the staff of the SEC contained
in several no-action letters to third parties (including Exxon Capital Holdings
Corporation (available May 13, 1988), Morgan Stanley & Co. Incorporated
(available June 5, 1991), K-III Communications Corporation (available May 14,
1993) and Shearman & Sterling (available July 2, 1993)), we believe that the new
notes will generally be freely transferable by holders thereof after the
exchange offer without further registration under the Securities Act (subject to
certain representations required to be made by each holder, as set forth above).
However, any holder who (1) is one of our "affiliates," (2) intends to
participate in the exchange offer for the purpose of distributing the new notes
or (3) is a broker-dealer receiving new notes for its own account in exchange
for old notes that were acquired as a result of market-making activities or
other trading activities, (x) will not be able to rely on the interpretation of
the staff of the SEC and (y) must comply with the registration and prospectus
delivery requirements of the Securities Act in connection with any sale or
transfer of the notes unless such sale or transfer is made pursuant to an
exemption from such requirements.

     We do not intend to seek our own interpretation regarding the exchange
offer and there can be no assurance that the staff of the SEC would make a
similar determination with respect to the new notes as it has in other
interpretations to other parties, although we have no reason to believe
otherwise.

     The conditions listed above are for our sole benefit and may be asserted by
us regardless of the circumstances giving rise to any of these conditions. We
may waive these conditions in our reasonable

                                        11


discretion, in whole or in part, at any time and from time to time. The failure
by us at any time to exercise any of the above rights shall not be considered a
waiver of these rights, and these rights shall be considered ongoing rights that
may be asserted at any time and from time to time. Our determination of the
satisfaction or waiver of these conditions will be made on or before the
expiration date. We will not accept any of the old notes for exchange unless all
of the conditions listed above have been satisfied or waived prior to the
expiration date.

     If we determine in our reasonable discretion that any of the conditions are
not satisfied at the expiration date, we may:

     - refuse to accept any old notes and return all tendered old notes to the
       tendering holders;

     - extend the exchange offer and retain all old notes tendered before the
       expiration of the exchange offer, subject, however, to the rights of
       holders to withdraw these old notes (See "-- Withdrawal of Tenders"
       below); or

     - waive unsatisfied conditions relating to the exchange offer and accept
       all properly tendered old notes which have not been withdrawn.

     Our determination concerning the events described above will be final and
binding upon all parties.

PROCEDURES FOR TENDERING

     Unless the tender is made in book-entry form or pursuant to the guaranteed
delivery procedures described below under "Guaranteed Delivery Procedures," to
tender old notes in the exchange offer a holder must:

     - complete, sign and date the letter of transmittal, or a facsimile of it;

     - have the signatures guaranteed if required by the letter of transmittal;
       and

     - mail or otherwise deliver the letter of transmittal or the facsimile, the
       old notes, and any other required documents to the exchange agent prior
       to 5:00 p.m., Eastern Time, on the expiration date.

     The exchange agent will make a request to establish an account with respect
to the old notes at DTC's Book-Entry Transfer Facility for purposes of the
exchange offer within two business days after the date of this prospectus. Any
institution that is a participant in DTC's Book-Entry Transfer Facility system
may make book-entry delivery of the old notes through DTC's ATOP. However, the
exchange for the old notes so tendered will only be made after a book-entry
confirmation of the book-entry transfer of old notes into the exchange agent's
account, and timely receipt by the exchange agent of an agent's message. The
term "agent's message" means a message, transmitted by the book-entry transfer
facility and received by the exchange agent and forming part of a book-entry
confirmation, which states that DTC's Book-Entry Transfer Facility has received
an express acknowledgement from a participant tendering old notes that are the
subject of such book-entry confirmation that such participant has received and
agrees to be bound by the terms of the letter of transmittal, and that we may
enforce such agreement against such participant. A letter of transmittal need
not accompany tenders offered through ATOP.

     The tender by a holder of old notes will constitute an agreement between us
and the holder in accordance with the terms and subject to the conditions set
forth in this prospectus and in the letter of transmittal.

     The method of delivery of old notes and the letter of transmittal and all
other required documents to the exchange agent is at the election and risk of
the holders. Instead of delivery by mail, we recommend that holders use an
overnight or hand delivery service. In all cases, holders should allow
sufficient time to assure delivery to the exchange agent before the expiration
date. No letter of transmittal or old notes should be sent to us. Holders may
request their brokers, dealers, commercial banks, trust companies, or nominees
to effect the tenders for them.

     Any beneficial owner whose old notes are registered in the name of a
broker, dealer, commercial bank, trust company or other nominee and who wishes
to tender its old notes should contact the registered holder promptly and
instruct the registered holder to tender the old notes on behalf of the
beneficial owner. If the

                                        12


beneficial owner wishes to tender the old notes on its own behalf, the owner
must, prior to completing and executing the appropriate letter of transmittal
and delivery of its old notes, either make appropriate arrangements to register
ownership of the old notes in its name or obtain a properly completed bond power
from the registered holder. The transfer of registered ownership may take a
considerable period of time.

     Signatures on a letter of transmittal or a notice of withdrawal must be
guaranteed by an "eligible guarantor institution" as defined in Rule 17Ad-15
under the Exchange Act unless the old notes are tendered:

     - by a registered holder who has not completed the box entitled "Special
       Issuance Instructions" or "Special Delivery Instructions" on the letter
       of transmittal; or

     - for the account of an eligible guarantor institution.

     If the letter of transmittal is signed by a person other than the
registered holder of the old notes, the old notes must be endorsed by the
registered holder or accompanied by a properly completed bond power, in each
case signed or endorsed in blank by the registered holder.

     If the letter of transmittal or any old notes or bond powers are signed or
endorsed by trustees, executors, administrators, guardians, attorneys-in-fact,
officers of corporations or others acting in a fiduciary or representative
capacity, these persons should so indicate when signing and, unless the
requirement is waived by us, submit evidence satisfactory to us of their
authority to act in that capacity with the letter of transmittal.

     We will determine all questions as to the validity, form, eligibility
(including time of receipt), and acceptance and withdrawal of tendered old notes
in our sole discretion. We reserve the absolute right to reject any and all old
notes not properly tendered or any old notes whose acceptance by us would, in
the opinion of our counsel, be unlawful. We also reserve the right to waive any
defects, irregularities or conditions of tender as to any particular old notes
either before or after the expiration date. Our interpretation of the terms and
conditions of the exchange offer (including the instructions in the letter of
transmittal) will be final and binding on all parties. Unless waived, any
defects or irregularities in connection with tenders of old notes must be cured
within a time period determined by us.

     Although we intend to request the exchange agent to notify holders of
defects or irregularities relating to tenders of old notes, none of we, the
exchange agent or any other person has any duty to give this notice or will
incur any liability for failure to give this notice. Tenders of old notes will
not be considered to have been made until such defects or irregularities have
been cured or waived. Any old notes received by the exchange agent that are not
properly tendered and as to which the defects or irregularities have not been
cured or waived will be returned by the exchange agent to the tendering holders,
unless otherwise provided in the letter of transmittal, as soon as practicable
following the expiration date.

     In addition, we reserve the right, as set forth above under the caption
"-- Conditions to the Exchange Offer," to terminate the exchange offer with
respect to the old notes.

GUARANTEED DELIVERY PROCEDURES

     If the procedures for tendering your old notes described above under
"Procedures for Tendering" cannot be completed on a timely basis, a tender may
be effected if:

     - the tender is made through an eligible institution;

     - prior to the expiration date, the exchange agent receives by facsimile
       transmission, mail or hand delivery from such eligible institution a
       properly completed and duly executed letter of transmittal and notice of
       guaranteed delivery, substantially in the form provided by us (or an
       agent's message in lieu thereof), which:

      - sets forth the name and address of the holder of old notes and the
        amount of old notes tendered;

      - states that the tender is being made thereby; and

      - guarantees that within three New York Stock Exchange, or NYSE, trading
        days after the expiration date, the certificates for all physically
        tendered old notes, in proper form for transfer, or a book-entry
                                        13


        confirmation, as the case may be, and any other documents required by
        the letter of transmittal will be deposited by the eligible institution
        with the exchange agent; and

     - the certificates for all physically tendered old notes, in proper form
       for transfer, or a book-entry confirmation, as the case may be, and all
       other documents required by the letter of transmittal are received by the
       exchange agent within three NYSE trading days after the expiration date.

WITHDRAWAL OF TENDERS

     Except as otherwise provided in this prospectus, tenders of old notes may
be withdrawn at any time prior to 5:00 p.m., Eastern Time, on the expiration
date.

     To withdraw a tender of old notes, a telegram, telex, facsimile
transmission or letter giving notice of withdrawal must be received by the
exchange agent at its address set forth herein prior to 5:00 p.m., Eastern Time,
on the expiration date. Any notice of withdrawal must:

     - specify the name of the person who deposited the old notes to be
       withdrawn;

     - identify the old notes to be withdrawn, including the principal amount of
       the old notes;

     - in the case of old notes tendered by book-entry transfer, specify the
       number of the account at the book-entry transfer facility from which the
       old notes were tendered and specify the name and number of the account at
       the book-entry transfer facility to be credited with the withdrawn old
       notes and otherwise comply with the procedures of such facility;

     - contain a statement that such holder is withdrawing its election to have
       such old notes exchanged;

     - be signed by the holder in the same manner as the original signature on
       the letter of transmittal by which the old notes were tendered, including
       any required signature guarantees, or be accompanied by documents of
       transfer sufficient to have the trustee register the transfer of the old
       notes into the name of the person withdrawing the tender; and

     - specify the name in which any old notes are to be registered, if
       different from that of the depositor.

     We will determine all questions as to the validity, form and eligibility
(including time of receipt) of withdrawal notices. Any old notes so withdrawn
will be considered not to have been validly tendered for purposes of the
exchange offer, and no new notes will be issued in exchange for these old notes
unless the old notes withdrawn are validly re-tendered. Any old notes that have
been tendered but are not accepted for exchange or are withdrawn will be
returned to the holder without cost to such holder as soon as practicable after
withdrawal, rejection of tender, or termination of the exchange offer. Properly
withdrawn old notes may be re-tendered by following one of the procedures
described above under the caption "-- Procedures for Tendering" at any time
prior to the expiration date.

EXCHANGE AGENT

     JPMorgan Chase Bank is the exchange agent for the exchange offer. You
should direct any questions and requests for assistance regarding the procedures
for tendering the old notes, requests for additional copies of

                                        14


this prospectus or of the letter of transmittal, and requests for notice of
guaranteed delivery to the exchange agent, addressed as follows:

                        By Registered or Certified Mail:

                              JPMorgan Chase Bank

                          Institutional Trust Services
                                 P.O. Box 2320
                            Dallas, Texas 75221-2320
                             Attention: Frank Ivins
                      For Information Call: (800) 275-2048
                    To Confirm by Telephone: (214) 468-6464
      Facsimile Transmissions (eligible institutions only) (214) 468-6494

                         By Hand or Overnight Delivery:

                              JPMorgan Chase Bank

                          Institutional Trust Services
                          2001 Bryan Street, 9th floor
                              Dallas, Texas 75201
                             Attention: Frank Ivins

     JPMorgan Chase Bank also serves as trustee under the indenture relating to
the notes.

FEES AND EXPENSES

     We will not make any payment to brokers, dealers or others soliciting
acceptances of the exchange offer. We will pay certain other expenses to be
incurred in connection with the exchange offer, including the fees and expenses
of the exchange agent as well as accounting and legal fees.

     Holders who tender their old notes for exchange will not be obligated to
pay transfer taxes. However, if new notes are to be issued or delivered to, or
if old notes not tendered or exchanged are to be registered in the name of, any
persons other than the registered holders of the old notes tendered, or if
tendered old notes are registered in the name of any persons other than the
persons signing the letter of transmittal, the amount of transfer taxes (whether
imposed on the registered holder of the old notes tendered or such other person)
payable on account of the transfer to such other person will be billed to the
holder of the old notes tendered unless satisfactory evidence of the payment of
such taxes or exemption therefrom is submitted.

ACCOUNTING TREATMENT

     The new notes will be recorded at the same carrying value as the old notes
as reflected in our accounting records on the date of the exchange. Accordingly,
we will not recognize any gain or loss for accounting purposes upon the
completion of the exchange offer. The expenses of the exchange offer will be
amortized by us over the term of the new notes.

CONSEQUENCES OF FAILING TO TENDER OLD NOTES IN THE EXCHANGE OFFER

     Issuance of the new notes in exchange for the old notes under the exchange
offer will be made only after timely receipt by the exchange agent of the old
notes, a properly completed and duly executed letter of transmittal, and all
other required documents. Therefore, holders desiring to tender old notes in
exchange for new notes should allow sufficient time to ensure timely delivery.
We are under no duty to give notification of defects or irregularities to
tenders of old notes. Old notes that are not tendered in the exchange offer, are
tendered but not accepted or are tendered but subsequently withdrawn will,
following completion of the exchange offer, continue to be subject to the
existing restrictions upon transfer under the Securities Act, and, upon
completion of the exchange offer, certain registration rights under the
registration rights agreement will terminate.

                                        15


     In the event the exchange offer is completed, we generally will not be
required to register the remaining old notes, subject to limited exceptions. See
"-- Shelf Registration Statement" below. Remaining old notes will continue to be
subject to the following restrictions on transfer:

     - the remaining old notes may be resold only if registered pursuant to the
       Securities Act, if an exemption from registration is available, or if
       neither registration nor an exemption is required by law, and

     - the remaining old notes will bear a legend restricting transfer in the
       absence of registration or an exemption.

     We do not currently anticipate that we will register the remaining old
notes under the Securities Act. To the extent that old notes are tendered and
accepted in connection with the exchange offer, any trading market for remaining
old notes could be adversely affected.

SHELF REGISTRATION STATEMENT

     We also may be required to use our reasonable best efforts to file a shelf
registration statement to permit certain holders of the old notes who are not
eligible to participate in the exchange offer to resell the old notes
periodically without being limited by the transfer restrictions. We will be
required to file a shelf registration statement only if:

     - there is a change in law, SEC rules or regulations or applicable
       interpretations thereof by the staff of the SEC, and as a result we are
       not permitted to complete the exchange offer;

     - any holder of the old notes (other than an initial purchaser) is
       prohibited by law or SEC policy to participate in the exchange offer;

     - the exchange offer registration statement is not declared effective
       within 210 days of the date the old notes were first issued or the
       exchange offer is not consummated within 240 days of the date the old
       notes were first issued; or

     - under certain circumstances, we are requested to do so by any initial
       purchaser.

     The shelf registration statement will permit only certain holders to resell
their old notes from time to time. In particular, such holders must:

     - provide specified information in connection with the shelf registration
       statement; and

     - agree in writing to be bound by all provisions of the registration rights
       agreement (including the indemnification and contribution obligations).

     We will, in the event of the filing of a shelf registration statement, use
our reasonable best efforts to provide to each holder of old notes that are
covered by the shelf registration statement copies of the prospectus which is a
part of the shelf registration statement and notify each such holder when the
shelf registration statement has become effective. A holder who sells old notes
pursuant to the shelf registration statement will be required to be named as a
selling securityholder in the prospectus and to deliver a copy of the prospectus
to purchasers. Such holder will be subject to certain of the civil liability
provisions under the Securities Act in connection with such sales, and will be
bound by the provisions of the registration rights agreement which are
applicable to such a holder (including the indemnification and contribution
obligations).

     If a shelf registration statement is required, we will use our reasonable
best efforts to:

     - file the shelf registration statement with the SEC after such obligation
       arises;

     - cause the shelf registration statement to be declared effective by the
       SEC as promptly as practicable after filing, but no later than the later
       of the 300th day after the old notes were first issued or 60 days after
       such obligation arises; and

     - keep the shelf registration statement effective for a period of two years
       after the date the shelf registration statement is declared effective (or
       one year in the case of a shelf registration effected at the request of
       an initial purchaser), or such shorter period that will terminate when
       all of the old notes
                                        16


       covered by the shelf registration statement are sold thereunder, cease to
       be outstanding or are already freely tradable.

     Under certain circumstances, we may suspend the availability of the shelf
registration statement for certain periods of time, as specified in the
registration rights agreement.

ADDITIONAL INTEREST

     If a Registration Default (as defined below) occurs, then we will be
required to pay additional interest to each holder of the old notes. We will pay
additional interest equal to 0.25% per year upon the occurrence of each
Registration Default. The amount of additional interest will increase by an
additional 0.25% per year for each subsequent 90-day period that a Registration
Default remains uncured. However, in no event will the rate of additional
interest exceed 0.50% per year. Such additional interest will accrue only for
those days that a Registration Default occurs and is continuing. All accrued
additional interest will be paid to the holders of the old notes in the same
manner as interest payments on the old notes, with payments being made on the
interest payment dates for the old notes. Following the cure of all Registration
Defaults, no more additional interest will accrue and the interest rate will
revert to the original rate. You will not be entitled to receive any additional
interest if you were, at the time the exchange offer was pending and
consummated, eligible to exchange, and did not validly tender, or withdrew after
validly tendering, your old notes for new notes in the exchange offer.

     A "Registration Default" includes any of the following:

     - we fail to file a registration statement relating to the exchange offer
       on or before the date specified for such filing;

     - any of the registration statements required by the registration rights
       agreement are not declared effective by the SEC on or prior to the date
       specified for such effectiveness;

     - we fail to complete the exchange offer on or prior to the date specified
       for such completion; or

     - the shelf registration statement is declared effective but thereafter
       ceases to be effective or usable in connection with resales of the notes
       during the period specified in the registration rights agreement, subject
       to our right to suspend the availability of the shelf registration
       statement for certain periods.

REGULATORY REQUIREMENTS

     Following the effectiveness of the registration statement covering the
exchange offer, no material federal or state regulatory requirement must be
complied with in connection with this exchange offer.

                          DESCRIPTION OF THE NEW NOTES

     We will issue the new notes, and we issued the old notes, under an
indenture dated as of October 20, 1995 between us and JPMorgan Chase Bank, as
trustee, as supplemented by Supplemental Indenture No. 1 dated as of December
27, 2000 and by Supplemental Indenture No. 4 dated as of July 10, 2003, each
between us and the trustee. We refer to the indenture, so supplemented, as the
indenture. We have issued, and may in the future issue, other series of debt
securities under the indenture. The indenture does not limit the amount of debt
that we may issue under the indenture or the amount of other unsecured debt or
securities that we may issue.

     As described under "The Exchange Offer -- Purpose and Effect of the
Exchange Offer," we have agreed to file this registration statement enabling
holders to exchange the old notes for the publicly registered new

                                        17


notes. The form and terms of the new notes will be identical in all material
respects to the form and terms of the old notes, except that:

     - the new notes will bear a different CUSIP number from the old notes;

     - the new notes will be registered under the Securities Act and therefore
       will not bear a legend restricting their transfer; and

     - the holders of the new notes will not be entitled to certain rights of
       the holders of old notes under the registration rights agreement,
       including provisions which provide for an increase in the interest rate
       of the old notes in certain circumstances relating to the timing of the
       exchange offer.

     The new notes will evidence the same debt as the old notes. The old notes
and the new notes will constitute a single series of securities under the
indenture and therefore will vote together as a single class for purposes of
determining whether holders of the requisite percentage in aggregate principal
amount thereof have taken actions or exercised rights they are entitled to take
or exercise under the indenture.

     The following description of the terms of the indenture is a summary. We
have summarized only those portions of the indenture and the notes that we
believe will be most important to your decision to participate in the exchange
offer. You should keep in mind, however, that it is the indenture, and not this
summary, which defines your rights as a noteholder. There may be other
provisions in the indenture which are also important to you. You should read the
indenture for a full description of the terms of the notes. See "Where You Can
Find More Information" for information on how to obtain copies of the indenture
and the form of note.

     In this section, the terms "The Hartford," "we," "us" and "our" do not
include any of our current or future subsidiaries, unless the context otherwise
indicates.

GENERAL

     The new notes will mature on July 15, 2013 and will bear interest at the
rate of 4.625% per year from July 10, 2003. We will:

     - pay interest semi-annually in arrears on January 15 and July 15 of each
       year, commencing January 15, 2004;

     - pay interest to the record holders on the preceding December 30 or June
       30;

     - compute interest on the basis of a 360-day year consisting of twelve
       30-day months;

     - make payments on the new notes at the offices of the trustee and paying
       agent; and

     - make payments by wire transfer for new notes held in book-entry form or
       by check mailed to the address of the person entitled to the payment as
       it appears on the securities register.

     The new notes will only be issued in fully registered form in denominations
of $1,000 and integral multiples of $1,000.

     There is no limit on the aggregate principal amount of notes of this series
that we may issue. Subject to certain tax limitations, we reserve the right,
from time to time and without the consent of any holders of any of the notes, to
re-open this series of notes to issue additional notes of the same tenor as the
outstanding notes, so that such additional notes shall be consolidated with,
form a single issue with and increase the aggregate principal amount of the
notes.

THE NEW NOTES WILL BE UNSECURED OBLIGATIONS

     The new notes will be unsecured and will rank equally with all of our other
unsecured and unsubordinated obligations from time to time outstanding. As a
non-operating holding company, we have no significant business operations of our
own. Therefore, we rely on dividends from our insurance company and other
subsidiaries as the principal source of cash flow to meet our obligations for
payment of principal and interest on our outstanding debt obligations and
corporate expenses. Accordingly, the new notes will be effectively

                                        18


subordinated to all existing and future liabilities of our subsidiaries, and you
should rely only on our assets for payments on the notes. The payment of
dividends by our insurance subsidiaries is limited under the insurance holding
company laws in the jurisdictions where those subsidiaries are domiciled. See
"Prospectus Summary -- The Hartford Financial Services Group, Inc."

REDEMPTION

     We may redeem the new notes, in whole or in part, at any time at a
redemption price equal to:

     (i) any accrued and unpaid interest thereon to the date fixed for
         redemption, plus;

     (ii) the greater of (a) 100% of the principal amount thereof and (b) an
          amount equal to the Discounted Remaining Fixed Amount Payments.

     "Interest Payment Date" means the Stated Maturity of an installment of
interest on the new notes.

     "Stated Maturity" means the date specified in the new notes as the fixed
date on which the principal of such notes or an installment of interest is due
and payable on such notes.

     "Discounted Remaining Fixed Amount Payments" means an amount equal to the
sum of the Current Values of the amounts of interest and principal that would
have been payable by us pursuant to the terms of the new notes on each Interest
Payment Date after the date fixed for redemption and at the Stated Maturity of
the final payment of principal (assuming that we have not redeemed the new notes
prior to such Stated Maturity).

     "Current Value" means, in respect of any amount, the present value of that
amount on the date fixed for redemption, after discounting that amount on a
semiannual basis from the originally scheduled date for payment, on the basis of
the Treasury Rate, plus 15 basis points, all computed in accordance with
generally accepted financial practice.

     "Treasury Rate" means a per annum rate (expressed as a decimal and, in the
case of United States Treasury bills, converted to a per annum yield) determined
on the third business day prior to the date fixed for redemption to be the per
annum rate equal to the semiannual bond equivalent yield to maturity for United
States Treasury securities maturing at the Stated Maturity of the final payment
of principal of the new notes, as determined (i) by reference to the weekly
average yield to maturity for United States Treasury securities maturing on such
Stated Maturity as reported in the most recent Statistical Release H.15(519) of
the Board of Governors of the Federal Reserve, or (ii) if no such weekly average
yield is so reported, by interpolation between the most recent weekly average
yields to maturity for two series of United States Treasury securities, (a) one
maturing as close as possible to, but earlier than, such Stated Maturity and (b)
the other maturing as close as possible to, but later than, such Stated
Maturity, in each case as published in the most recent Statistical Release
H.15(519) of the Board of Governors of the Federal Reserve.

     Notice of any redemption will be mailed at least 30 days, but not more than
60 days, before the date fixed for redemption to each holder of new notes to be
redeemed.

BOOK-ENTRY, DELIVERY AND FORM

     The new notes will be represented by one or more global notes that will be
deposited with and registered in the name of DTC or its nominee. We will not
issue certificated notes, except in the limited circumstances described below.
Unless it is exchanged for certificated notes, a global note may not be
transferred except:

     - by DTC (or any successor depositary) to its nominee;

     - by a nominee of DTC to DTC or another nominee of DTC;

     - by DTC or any nominee of DTC to a successor depositary, or a nominee of
       the successor depositary;

     - by a successor depositary to its nominee;

                                        19


     - by a nominee of a successor depositary to the successor depositary or
       another nominee; or

     - by a successor depositary or any nominee of a successor depositary to
       another successor depositary or its nominee.

     Transfers of ownership interests in the global notes will be effected only
through entries made on the books of DTC participants acting on behalf of
beneficial owners. You, as the beneficial owner of new notes, will not receive
certificates representing ownership interests in the global notes, except in the
event that use of the book-entry system for the new notes is discontinued. You
will not receive written confirmation from DTC of your exchange. The direct or
indirect participants through whom you exchange the notes should send you
written confirmations providing details of your transactions, as well as
periodic statements of your holdings. The direct and indirect participants are
responsible for keeping accurate account of the holdings of their customers like
you. The laws of some states require that certain purchasers of securities take
physical delivery of such securities in definitive form. Such limits and such
laws may impair the ability to own, transfer or pledge beneficial interests in
the global notes.

     So long as DTC or its nominee is the registered owner and holder of the
global notes, DTC or its nominee, as the case may be, will be considered the
sole owner or holder of the new notes represented by the global notes for all
purposes under the indenture relating to the new notes. Except as provided
below, you, as the beneficial owner of interests in the global notes, will not
be entitled to have new notes registered in your name, will not receive or be
entitled to receive physical delivery of new notes in definitive form and will
not be considered the owner or holder thereof under the indenture. Accordingly,
you, as the beneficial owner, must rely on the procedures of DTC and, if you are
not a DTC participant, on the procedures of the DTC participants through which
you own your interest, to exercise any rights of a holder under the indenture.

     We will issue definitive notes in exchange for the global notes if (1) DTC
or a successor depositary is at any time unwilling, unable or ineligible to
continue as depositary for the global notes or (2) an event of default has
occurred with respect to the new notes and is continuing. In addition, we may at
any time and in our sole discretion determine not to have the new notes
represented by one or more global notes. If that occurs, we will issue
definitive notes in exchange for the global notes.

     Further, we may specify that you may, on terms acceptable to us, the
trustee and the depositary, receive definitive notes in exchange for your
beneficial interest in a global note. In that instance, you will be entitled to
physical delivery of definitive notes equal in principal amount to that
beneficial interest and to have the new notes registered in your name.

     Neither we, the trustee, nor any other agent of ours or agent of the
trustee will have any responsibility or liability for any aspect of the records
relating to, or payments made on account of, beneficial ownership interests in
global notes or for maintaining, supervising or reviewing any records relating
to the beneficial ownership interests. DTC's practice is to credit the accounts
of DTC's direct participants with payment in amounts proportionate to their
respective holdings in principal amount of beneficial interest in a security as
shown on the records of DTC, unless DTC has reason to believe that it will not
receive payment on the payment date. Beneficial owners may experience delays in
receiving distributions on their new notes because distributions will initially
be made to DTC and they must be transferred through the chain of intermediaries
to the beneficial owner's account. Payments by DTC participants to you will be
the responsibility of the DTC participant and not of DTC, the trustee or us.
Accordingly, we and any paying agent will have no responsibility or liability
for: (1) any aspect of DTC's records relating to, or payments made on account
of, beneficial ownership interests in notes represented by a global securities
certificate; (2) any other aspect of the relationship between DTC and its
participants or the relationship between those participants and the owners of
beneficial interests in a global securities certificate held through those
participants; or (3) the maintenance, supervision or review of any of DTC's
records relating to those beneficial ownership interests.

     Conveyance of notices and other communications by DTC to direct
participants, by direct participants to indirect participants, and by direct
participants and indirect participants to beneficial owners will be governed by
arrangements among them, subject to any statutory or regulatory requirements as
may be in effect from time to time.

                                        20


     We have been informed that, under DTC's existing practices, if we request
any action of holders of notes, or an owner of a beneficial interest in a global
note such as you desires to take any action which a holder of notes is entitled
to take under the indenture, DTC would authorize the direct participants holding
the relevant beneficial interests to take such action, and those direct
participants and any indirect participants would authorize beneficial owners
owning through those direct and indirect participants to take such action or
would otherwise act upon the instructions of beneficial owners owning through
them.

DENOMINATIONS, REGISTRATION AND TRANSFER

     The new notes will be exchangeable for other notes, in any authorized
denominations, of a like aggregate principal amount. You may present new notes
for exchange, or for registration of transfer, at the office of the registrar
for the notes under the indenture or at the office of any transfer agent we
designate for that purpose. You will not incur a service charge but you must pay
any taxes and other governmental charges as described in the indenture. We have
appointed the trustee as a registrar and transfer agent for the notes under the
indenture. We may at any time rescind the designation of any transfer agent that
we initially designate or approve a change in the location through which the
transfer agent acts. We may at any time designate additional transfer agents.

PAYMENT AND PAYING AGENTS

     We will pay principal of, premium, if any, and interest on your new notes
at the office of the trustee in The City of New York or at the office of any
paying agent that we may designate.

     We will pay any interest on the new notes to the registered owner of the
new notes at the close of business on the record date for the interest, except
in the case of defaulted interest. We may at any time designate additional
paying agents or rescind the designation of any paying agent.

     Any moneys deposited with the trustee or any paying agent, or then held by
us in trust, for the payment of the principal of, premium, if any, and interest
on any new note that remain unclaimed for two years after the principal,
premium, if any, or interest has become due and payable will, at our request, be
repaid to us. After repayment to us, you are entitled to seek payment only from
us as a general unsecured creditor.

CONSOLIDATION, MERGER AND SALE OF ASSETS

     We will not consolidate with or merge into any other corporation or convey,
transfer or lease our properties and assets substantially as an entirety to any
person, and no person may consolidate with or merge into us or convey, transfer
or lease to us its properties and assets substantially as an entirety, unless:

     - if we consolidate with or merge into another corporation or convey or
       transfer our properties and assets substantially as an entirety to any
       person, the successor corporation is organized under the laws of the
       United States of America or any state or the District of Columbia, and
       the successor corporation expressly assumes our obligations relating to
       the notes;

     - immediately after giving effect to the consolidation, merger, conveyance
       or transfer, there exists no event of default, and no event which, after
       notice or lapse of time or both, would become an event of default; and

     - other conditions described in the indenture are met.

     The general provisions of the indenture do not protect you against
transactions, such as a highly leveraged transaction, that may adversely affect
you.

LIMITATIONS UPON LIENS

     With certain exceptions set forth below, the indenture provides that
neither we nor our restricted subsidiaries may issue, assume or guarantee any
indebtedness for money borrowed if the indebtedness is secured by a lien upon
any of our or any restricted subsidiaries' principal property, or on any shares
of stock of any restricted subsidiary, whether the principal property or shares
of stock are now owned or later acquired.
                                        21


  GENERAL EXCEPTIONS

     The indenture permits us to incur secured debt if we provide that the notes
and the other debt securities issued under the indenture will be secured equally
and ratably with, or in priority to, the new secured indebtedness. In this
event, we may also provide that any of our other indebtedness, including
indebtedness guaranteed by us or the restricted subsidiary, will be secured
equally with, or in priority to, the new secured indebtedness. Further, the
restriction on incurring secured indebtedness will not apply to:

     - liens on property or shares of stock of any corporation existing at the
       time the corporation becomes a restricted subsidiary;

     - liens on property existing at the time it is acquired, or liens on
       property which secure the payment of the purchase price of the property,
       or liens on property which secure indebtedness incurred or guaranteed for
       the purpose of financing the purchase price of the property or the
       construction of that property, including improvements to existing
       property, which indebtedness is incurred or guaranteed within 180 days
       after the latest of the acquisition or completion of construction or
       commencement of operation of the property;

     - liens securing indebtedness owing by any restricted subsidiary to us or a
       wholly owned restricted subsidiary;

     - liens on the property of a corporation existing at the time the
       corporation is merged into or consolidated with us or a restricted
       subsidiary or at the time of a purchase, lease or other acquisition of
       the properties of a corporation or other person as an entirety by us or a
       restricted subsidiary;

     - liens on our property or the property of a restricted subsidiary in favor
       of the United States of America or any state, agency, instrumentality or
       political subdivision of the United States of America, or in favor of any
       other country, or any political subdivision of that country, to secure
       any indebtedness incurred or guaranteed for the purpose of financing all
       or any part of the purchase price or the cost of construction of the
       property subject to those liens within 180 days after the latest of the
       acquisition, completion of construction or commencement of operation of
       that property; and

     - any extension, renewal or replacement of any lien referred to in the five
       preceding clauses.

  EXCEPTIONS FOR SPECIFIED AMOUNT OF INDEBTEDNESS

     We and one or more restricted subsidiaries may, without securing the notes
and the other debt securities issued under the indenture, issue, assume or
guarantee secured indebtedness which would otherwise be subject to the above
restrictions, provided that after doing so the aggregate amount of such secured
indebtedness does not exceed 10% of our consolidated net tangible assets. In
computing the aggregate amount of indebtedness outstanding for purposes of the
previous sentence, indebtedness issued, assumed or guaranteed pursuant to the
six exceptions above under "Limitations upon Liens -- General Exceptions" shall
be excluded.

     When we use the term "consolidated net tangible assets," we mean the total
amount of assets, less applicable reserves and other properly deductible items,
after deducting:

     - all current liabilities, excluding any liabilities which are by their
       terms extendible or renewable at the option of the obligor to a time more
       than 12 months after the time as of which the amount is being computed;
       and

     - all segregated goodwill, trade names, trademarks, patents, unamortized
       debt discount and expense and other like intangibles, all as set forth on
       the most recent balance sheet of The Hartford and its consolidated
       subsidiaries and prepared in accordance with generally accepted
       accounting principles. Our subsidiaries include any corporation where
       more than 50% of its voting stock is owned or controlled by us or by
       another subsidiary.

     When we use the term "principal property," we mean all land, buildings,
machinery and equipment, and leasehold interests and improvements relating to
these items, which would be reflected on our consolidated balance sheet prepared
in accordance with generally accepted accounting principles, excluding all
tangible
                                        22


property located outside the United States of America and excluding any tangible
property which, in the opinion of our board of directors set forth in a board
resolution, is not material to us and our consolidated subsidiaries taken as a
whole.

     When we use the term "restricted subsidiary," we mean any subsidiary which
is incorporated under the laws of any state of the United States or of the
District of Columbia, and which is a regulated insurance company principally
engaged in one or more of the property, casualty and life insurance businesses.
However, no subsidiary is a restricted subsidiary:

     - if the total assets of that subsidiary are less than 10% of our total
       assets and the total assets of our consolidated subsidiaries, including
       that subsidiary, in each case as set forth on the most recent fiscal
       year-end balance sheets of the subsidiary and us and our consolidated
       subsidiaries, respectively, and computed in accordance with generally
       accepted accounting principles; or

     - if in the judgment of our board of directors, as evidenced by a board
       resolution, the subsidiary is not material to the financial condition of
       The Hartford and our subsidiaries taken as a whole.

     As of the date of this prospectus, the following subsidiaries meet the
definition of restricted subsidiary: Hartford Fire Insurance Company, Hartford
Life Insurance Company, Hartford Life and Accident Insurance Company and
Hartford Life and Annuity Insurance Company.

MODIFICATION AND WAIVER

  MODIFICATION

     We and the trustee may modify and amend the indenture relating to the notes
with (1) the consent of the holders of a majority in aggregate principal amount
of the notes and (2) if applicable, the consent of the holders of a majority in
aggregate principal amount of any other series of debt securities affected by
such amendment. However, no modification or amendment may, without the consent
of the holder of each outstanding note:

     - change the stated maturity of the principal of, or any installment of
       interest on, any outstanding note;

     - reduce the principal amount of, or the rate of interest on or any premium
       payable upon the redemption of any outstanding note;

     - change the place of payment, or the coin or currency in which any
       outstanding note, or the interest thereon, is payable;

     - impair your right to institute suit for the enforcement of any payment on
       or relating to any outstanding note after the stated maturity; or

     - change the amendment provisions of the indenture requiring the consent of
       the affected holders for waiver of compliance with the indenture or
       waiver of past defaults.

  WAIVER

     The holders of a majority in principal amount of the outstanding notes may,
on behalf of the holders of all notes, waive compliance by us with certain
restrictive covenants of the indenture which relate to the notes.

     The holders of not less than a majority in principal amount of the
outstanding notes may, on behalf of the holders of the notes, generally waive
any past default under the indenture relating to the notes. However, a default
in the payment of the principal of, premium, if any, or any interest on, any
note or relating to a provision which under the indenture cannot be modified or
amended without the consent of the holder of each outstanding note affected
cannot be so waived.

                                        23


EVENTS OF DEFAULT

     Under the terms of the indenture, each of the following constitutes an
event of default for the notes:

     - default for 30 days in the payment of any interest on the notes when due;

     - default in the payment of principal or premium, if any, on the notes at
       maturity;

     - default in the performance of any other covenant in the indenture for 60
       days after written notice;

     - our bankruptcy, insolvency or reorganization; or

     - acceleration or default in the payment of indebtedness for borrowed money
       in excess of $25,000,000, which has not been rescinded or annulled within
       30 days after notice or remedied, cured or waived.

     We are required to furnish the trustee annually with a statement as to the
fulfillment of our obligations under the indenture. The indenture provides that
the trustee may withhold notice to you of any default, except in respect of the
payment of principal or interest on the notes, if it considers it in the
interests of the holders of the notes to do so.

  EFFECT OF AN EVENT OF DEFAULT

     If an event of default exists, the trustee or the holders of not less than
25% in principal amount of the outstanding notes may declare the principal
amount of the notes to be due and payable immediately by a notice in writing to
us, and to the trustee if given by holders. Upon that declaration, the principal
will become immediately due and payable. However, at any time after a
declaration of acceleration has been made, but before a judgment or decree for
payment of the money due has been obtained, the holders of a majority in
principal amount of the outstanding notes may, subject to conditions specified
in the indenture, rescind and annul that declaration.

     Subject to the provisions of the indenture relating to the duties of the
trustee, if an event of default then exists, the trustee will be under no
obligation to exercise any of its rights or powers under the indenture at your
request, order or direction, unless you have offered to the trustee reasonable
security or indemnity. Subject to the provisions for the security or
indemnification of the trustee, the holders of a majority in principal amount of
the outstanding notes have the right to direct the time, method and place of
conducting any proceeding for and remedy available to the trustee, or exercising
any trust or power conferred on the trustee in connection with the notes.

  LEGAL PROCEEDINGS AND ENFORCEMENT OF RIGHT TO PAYMENT

     You will not have any right to institute any proceeding in connection with
the indenture or for any remedy under the indenture, unless you have previously
given to the trustee written notice of a continuing event of default with
respect to the notes. In addition, the holders of at least 25% in principal
amount of the outstanding notes must have made written request, and offered
reasonable indemnity, to the trustee to institute that proceeding as trustee,
and, within 60 days following the receipt of that notice, the trustee must not
have received from the holders of a majority in principal amount of the
outstanding notes a direction inconsistent with that request, and must have
failed to institute the proceeding. However, you will have an absolute right to
receive payment of the principal of, and premium, if any, and interest on the
notes on or after the due dates expressed in the notes and to institute a suit
for the enforcement of that payment.

SATISFACTION AND DISCHARGE

     The indenture provides that when, among other things, all notes not
previously delivered to the trustee for cancellation:

     - have become due and payable, or

     - will become due and payable at their stated maturity within one year,

                                        24


and we deposit or cause to be deposited with the trustee, in trust, an amount in
the currency or currencies in which the notes are payable sufficient to pay and
discharge the entire indebtedness on the notes not previously delivered to the
trustee for cancellation, for the principal, premium, if any, and interest to
the date of the deposit or to the stated maturity, as the case may be, then the
indenture will cease to be of further effect, and we will be deemed to have
satisfied and discharged the indenture with respect to the notes. However, we
will continue to be obligated to pay all other sums due under the indenture and
to provide the officers' certificates and opinions of counsel described in the
indenture.

DEFEASANCE

     The indenture provides that we will be deemed to have paid and discharged
the entire indebtedness on all the notes at any time prior to their stated
maturity or redemption when:

     - we have irrevocably deposited or caused to be deposited with the trustee,
       in trust, either:

       -- sufficient funds to pay and discharge the entire indebtedness on the
          notes for the principal, premium, if any, and interest to the stated
          maturity or any redemption date, or

       -- the amount of U.S. government securities as will, in the written
          opinion of independent public accountants delivered to the trustee,
          together with predetermined and certain income to accrue, without
          consideration of any reinvestment, be sufficient to pay and discharge
          when due the entire indebtedness on the notes for principal, premium,
          if any, and interest to the stated maturity or any redemption date;

     - we have paid or caused to be paid all other sums payable on the notes;

     - we have delivered to the trustee an officers' certificate and an opinion
       of counsel to the effect that:

       -- we have received from, or there has been published by, the Internal
          Revenue Service a ruling, or

       -- since the date of execution of the indenture, there has been a change
          in the applicable federal income tax law,

     in either case to the effect that the deposit and related defeasance would
     not cause you to recognize income, gain or loss for federal income tax
     purposes;

     - we have delivered to the trustee an opinion of counsel that neither we
       nor the trust held by the trustee will immediately after the deposit just
       described be an "investment company" or a company "controlled" by an
       "investment company" within the meaning of the Investment Company Act of
       1940; and

     - we have delivered to the trustee the other officers' certificates and
       opinions of counsel as may be required by the indenture, each stating
       that all conditions precedent relating to the satisfaction and discharge
       of the entire indebtedness on all notes have been complied with.

GOVERNING LAW

     The indenture is, and the new notes will be, governed by and construed in
accordance with the laws of the State of New York.

THE TRUSTEE

     JPMorgan Chase Bank is trustee under the indenture. The trustee acts as
depositary for funds of, makes loans to and performs other services for, The
Hartford and our subsidiaries in the normal course of business. JPMorgan Chase
Bank also is the exchange agent for the exchange offer.

                                        25


                 CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS

     The following is a general discussion of certain United States federal
income tax considerations relating to the purchase, ownership and disposition of
the notes to holders who exchange old notes for new notes and who hold the notes
as capital assets. Except as provided below, this discussion applies only to (1)
an individual citizen or resident of the United States, (2) a corporation, or
other entity taxable as a corporation, created or organized in or under the laws
of the United States or any state thereof or the District of Columbia or (3) a
partnership, estate or trust treated, for United States federal income tax
purposes, as a domestic partnership, estate or trust (each referred to as a
"U.S. holder"). This discussion is based upon the Internal Revenue Code of 1986,
as amended (the "Code"), Treasury regulations (including proposed Treasury
regulations) issued thereunder, Internal Revenue Service rulings and
pronouncements and judicial decisions now in effect, all of which are subject to
change, possibly with retroactive effect.

     This discussion does not address all aspects of United States federal
income taxation that may be relevant to holders in light of their particular
circumstances, such as holders who are subject to special tax treatment (for
example, (1) banks, regulated investment companies, insurance companies, dealers
in securities or currencies or tax-exempt organizations, (2) persons holding
notes as part of a straddle, hedge, conversion transaction or other integrated
investment or (3) persons whose functional currency is not the U.S. dollar),
some of which may be subject to special rules, nor does it address alternative
minimum taxes, federal estate taxes or state, local or foreign taxes.
PROSPECTIVE INVESTORS ARE URGED TO CONSULT THEIR OWN TAX ADVISORS WITH RESPECT
TO THE TAX CONSEQUENCES OF THE PURCHASE, OWNERSHIP AND DISPOSITION OF NOTES IN
LIGHT OF THEIR OWN CIRCUMSTANCES.

EXCHANGE OF NOTES PURSUANT TO EXCHANGE OFFER

     The exchange of an old note for a new note will not constitute a taxable
exchange of the old note. Accordingly, (1) no gain or loss will be recognized by
a U.S. holder (or an investor that is not a U.S. holder) upon receipt of a new
note; (2) the adjusted tax basis of the new note will be the same as the
adjusted tax basis of the old note exchanged therefor; and (3) the holding
period of the new note will include the holding period of the old note exchanged
therefor.

INTEREST INCOME AND ORIGINAL ISSUE DISCOUNT

     The notes were not issued with an issue price that is less than their
stated redemption price at maturity by more than the statutory de minimis
amount. As a result, the notes will not be subject to the original issue
discount ("OID") rules, so that U.S. holders will generally be taxed on the
stated interest on the notes as ordinary income at the time it is paid or
accrued in accordance with the U.S. holder's regular method of tax accounting.

     At the time we issued the old notes, there was a possibility that we would
have been obliged to pay amounts in excess of the stated interest and principal
on the notes, if the exchange offer registration statement had not been not
filed, declared effective or completed within the applicable time periods (or
certain other actions were not taken), as described above under the heading "The
Exchange Offer -- Additional Interest." Under applicable Treasury regulations,
the possibility that any payment in excess of stated interest or principal will
be made will not affect the amount or timing of interest income a U.S. holder of
a debt instrument is required to recognize, provided that there is only a remote
likelihood as of the date the notes are issued that the additional payments will
be made. At the time we issued the old notes we took the position that the
likelihood that we would be obligated to make any such additional payments was
remote. We continue to believe that that position is correct. Therefore, the
possibility of such payments should not affect the amount or timing of income a
U.S. holder will recognize. Our determination that these contingencies were
remote is binding on a U.S. holder unless the U.S. holder discloses a contrary
position in the manner required by applicable Treasury regulations. Our
determination is not, however, binding on the IRS, and if the IRS were to
challenge our determination, a U.S. holder might be required to accrue income on
the notes in excess of stated interest, and to treat as ordinary income rather
than capital gain any income realized on the taxable

                                        26


disposition of a note before the resolution of the contingencies. The discussion
below assumes that our determination that these contingences were remote was
correct.

SALE, EXCHANGE, RETIREMENT OR OTHER DISPOSITION OF THE NOTES

     Upon the sale, exchange or other disposition of a note, a U.S. holder will
generally recognize taxable gain or loss in an amount equal to the difference
between the amount realized by such U.S. holder and such U.S. holder's adjusted
tax basis in the notes. Any gain or loss so recognized will generally be capital
gain or loss and be long-term capital gain or loss if the U.S. holder has held
the notes for more than one year at the time of disposition. A reduced tax rate
on long-term capital gain may apply to individual holders. The deductibility of
capital losses is subject to limitations.

NON-U.S. HOLDERS

     If an investor is not a U.S. holder as defined above (a "non-U.S. holder"),
payments received with respect to the notes should not be subject to United
States withholding tax, provided that such non-U.S. holder (1) does not actually
or constructively hold 10% or more of the combined voting power of all classes
of our stock that are entitled to vote within the meaning of section 871(h)(3)
of the Code, (2) is not a controlled foreign corporation for United States
federal income tax purposes that is related to us through stock ownership and
(3) complies with applicable certification requirements relating to its non-U.S.
status (including, in general, furnishing an IRS Form W-8 BEN or a substitute
form).

     In general, United States federal withholding tax will not apply to any
gain or income realized by a non-U.S. holder on the sale, exchange or other
disposition of the notes.

BACKUP WITHHOLDING AND INFORMATION REPORTING

     Unless a U.S. holder is an exempt recipient, such as a corporation,
payments under the notes and the proceeds received from the sale or other
disposition of notes may be subject to information reporting and may also be
subject to United States federal backup withholding tax at the applicable rate
if such U.S. holder fails to supply an accurate taxpayer identification number
or otherwise fails to comply with applicable United States information reporting
or certification requirements. Any amounts so withheld may be allowed as a
credit against the holder's United States federal income tax liability provided
the required information is furnished to the IRS.

     A U.S. holder will also be subject to information reporting with respect to
payments on the notes and proceeds from the sale or other disposition of the
notes, unless such U.S. holder is a corporation or other exempt recipient and
appropriately establishes that exemption.

     A non-U.S. holder may have to comply with certification procedures to
establish that such holder is not a U.S. person in order to avoid information
reporting and backup withholding tax.

                              ERISA CONSIDERATIONS

     Section 406 of the Employee Retirement Income Security Act of 1974, as
amended ("ERISA") and Section 4975 of the Code, prohibit pension, profit-sharing
or other employee benefit plans, as well as individual retirement accounts and
Keogh plans subject to Section 4975 of the Code ("Plans"), from engaging in
certain transactions involving "plan assets" with persons who are "parties in
interest" under ERISA or "disqualified persons" under the Code ("Parties in
Interest") with respect to certain Plans. As a result of our business, we may be
a Party in Interest with respect to certain Plans. Where we are a Party in
Interest with respect to a Plan (either directly or by reason of our ownership
of our subsidiaries), the purchase and subsequent holding of the old notes by or
on behalf of the Plan may have been, and the exchange of the old notes for the
new notes and the subsequent holding of the new notes may be, a prohibited
transaction under Section 406(a)(1) of ERISA and Section 4975(c)(1) of the Code,
unless exemptive relief were available under an applicable administrative
exemption (as described below) or there was some other basis on which the
transaction was not prohibited.
                                        27


     Accordingly, the offering materials with respect to the old notes stated
that such old notes could not be purchased or held by any Plan, any entity whose
underlying assets include "plan assets" by reason of any Plan's investment in
the entity (a "Plan Asset Entity") or any person investing "plan assets" of any
Plan, unless such purchaser or holder is eligible for the exemptive relief
available under prohibited Transaction Class Exemption ("PTCE") 96-23, 95-60,
91-38, 90-1 or 84-14 issued by the U.S. Department of Labor or there was some
other basis on which the purchase and holding of the old notes by the Plan Asset
Entity is not prohibited. By its purchase of the old notes, a holder of the old
notes or any interest therein was deemed to have represented that either (a) it
was not a Plan or a Plan Asset Entity and did not purchase the notes on behalf
of or with "plan assets" of any Plan or (b) its purchase and holding of the old
notes was eligible for the exemptive relief available under PTCE 96-23, 95-60,
91-38, 90-1 or 84-14 or there was some basis on which such participation and
holding is not prohibited. By its participation in the exchange offer, a holder
of the new notes or any interest therein will be deemed to have represented that
it is not in breach of the foregoing representation made in respect of the old
notes and that either (a) it is not a Plan or a Plan Asset Entity and is not
acquiring the new notes on behalf of or with "plan assets" of any Plan or (b)
its participation in the exchange offer and holding of the new notes is eligible
for the exemptive relief available under PTCE 96-23, 95-60, 91-38, 90-1 or 84-14
or there is some basis on which such participation and holding is not
prohibited.

     Employee benefit plans that are governmental plans (as defined in Section
3(32) of ERISA), certain church plans (as defined in Section 3(33) of ERISA) and
foreign plans (as described in Section 4(b)(4) of ERISA) are not subject to
these "prohibited transaction" rules of ERISA or Section 4975 of the Code, but
may be subject to similar rules under other applicable laws or documents. Due to
the complexity of the applicable rules, it is particularly important that
fiduciaries or other persons considering participating in the exchange offer and
holding the new notes on behalf of or with "plan assets" of any Plan consult
with their counsel regarding the relevant provisions of ERISA and the Code and
the availability of exemptive relief under PTCE 96-23, 95-60, 91-38, 90-1 or
84-14.

                              PLAN OF DISTRIBUTION

     Each broker-dealer that receives new notes for its own account pursuant to
the exchange offer must acknowledge that it will deliver a prospectus in
connection with any resale of such new notes. This prospectus, as it may be
amended or supplemented from time to time, may be used by a broker-dealer in
connection with resales of new notes received in exchange for old notes where
such old notes were acquired as a result of market-making activities or other
trading activities.

     We will not receive any proceeds from any sale of new notes by
broker-dealers. New notes received by broker-dealers for their own account
pursuant to the exchange offer may be sold from time to time in one or more
transactions in the over-the-counter market, in negotiated transactions, through
the writing of options on the new notes or a combination of such methods of
resale, at market prices prevailing at the time of resale, at prices related to
such prevailing market prices or at negotiated prices. Any such resale may be
made directly to purchasers or to or through brokers or dealers who may receive
compensation in the form of commissions or concessions from any such
broker-dealer or the purchasers of any such new notes. Any broker-dealer that
resells new notes that were received by it for its own account pursuant to the
exchange offer and any broker or dealer that participates in a distribution of
such new notes may be deemed to be an "underwriter" within the meaning of the
Securities Act and any profit on any such resale of new notes and any commission
or concessions received by any such persons may be deemed to be underwriting
compensation under the Securities Act. The letter of transmittal states that, by
acknowledging that it will deliver and by delivering a prospectus, a
broker-dealer will not be deemed to admit that it is an "underwriter" within the
meaning of the Securities Act.

     For a period of 90 days after the expiration date, we will promptly send
additional copies of this prospectus and any amendment or supplement to this
prospectus to any broker-dealer that reasonably requests such documents in the
letter of transmittal. We have agreed to pay certain expenses incident to the
exchange offer other than commissions or concessions of any brokers or dealers
and will indemnify certain holders of the notes against certain liabilities,
including liabilities under the Securities Act.

                                        28


     Based on interpretations by the staff of the SEC as set forth in no-action
letters issued to third parties (including Exxon Capital Holdings Corporation
(available May 13, 1988), Morgan Stanley & Co. Incorporated (available June 5,
1991), K-III Communications Corporation (available May 14, 1993) and Shearman &
Sterling (available July 2, 1993)), we believe that the new notes issued
pursuant to the exchange offer may be offered for resale, resold and otherwise
transferred by any holder of such new notes, other than any such holder that is
a broker-dealer or an "affiliate" of us within the meaning of Rule 405 under the
Securities Act, without compliance with the registration and prospectus delivery
provisions of the Securities Act, provided that:

     - such new notes are acquired in the ordinary course of business,

     - at the time of the commencement of the exchange offer such holder has no
       arrangement or understanding with any person to participate in a
       distribution of such new notes, and

     - such holder is not engaged in, and does not intend to engage in, a
       distribution of such notes.

     We have not sought, and do not intend to seek, a no-action letter from the
SEC with respect to the effects of the exchange offer, and there can be no
assurance that the staff of the SEC would make a similar determination with
respect to the new notes as it has in such no-action letters.

                                 LEGAL OPINIONS

     The validity of the new notes offered hereby has been passed upon for us by
Debevoise & Plimpton, New York, New York.

                                    EXPERTS

     The consolidated financial statements and the related financial statement
schedules incorporated in this prospectus by reference from our Annual Report on
Form 10-K for the year ended December 31, 2002 have been audited by Deloitte &
Touche LLP, independent auditors, as stated in their report, which is
incorporated herein by reference (which report expresses an unqualified opinion
and includes an explanatory paragraph relating to the changes in our method of
accounting for (a) goodwill and indefinite-lived intangible assets in 2002, (b)
derivative instruments and hedging activities in 2001, and (c) the recognition
of interest income and impairment on purchased retained beneficial interests in
securitized financial assets in 2001), and have been so incorporated in reliance
upon the report of such firm given upon their authority as experts in accounting
and auditing.

     With respect to the unaudited interim financial information for the periods
ended March 31, 2003 and 2002, June 30, 2003 and 2002 and September 30, 2003 and
2002 which is incorporated herein by reference, Deloitte & Touche LLP have
applied limited procedures in accordance with professional standards for a
review of such information. However, as stated in their reports included in our
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2003, June 30,
2003 and September 30, 2003 and incorporated by reference herein, they did not
audit and they do not express an opinion on that interim financial information.
Accordingly, the degree of reliance on their reports on such information should
be restricted in light of the limited nature of the review procedures applied.
Deloitte & Touche LLP are not subject to the liability provisions of Section 11
of the Securities Act of 1933 for their reports on the unaudited interim
financial information because those reports are not "reports" or a "part" of the
registration statement prepared or certified by an accountant within the meaning
of Sections 7 and 11 of the Act.

                      WHERE YOU CAN FIND MORE INFORMATION

     This prospectus is part of a registration statement that we filed with the
SEC. The registration statement, including the attached exhibits, contains
additional relevant information about us. The rules and regulations of the SEC
allow us to omit some of the information about The Hartford. In addition, we
file reports, proxy statements, information statements and other information
with the SEC. This information may be read and copied at the Public Reference
Room of the SEC at 450 Fifth Street, N.W., Judiciary Plaza, Washing-
                                        29


ton, D.C. 20549. Information regarding the operation of the Public Reference
Room may be obtained by calling the SEC at 1-800-SEC-0330. The material may also
be accessed electronically by means of the SEC's home page on the Internet at
http://www.sec.gov or through our web site at http://www.thehartford.com.

     Our common stock is listed on The New York Stock Exchange, Inc. You can
also inspect reports and other information concerning us at the office of The
New York Stock Exchange, Inc., 20 Broad Street, New York, New York 10005.

                           INCORPORATION BY REFERENCE

     The rules of the SEC allow us to incorporate by reference information into
this prospectus. The information incorporated by reference is considered to be a
part of this prospectus, and information that we file later with the SEC will
automatically update and supercede this information. This prospectus
incorporates by reference the documents listed below.

     - Our Annual Report on Form 10-K for the year ended December 31, 2002,

     - Our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2003,
       June 30, 2003 and September 30, 2003,

     - Description of our common stock and the rights associated with our common
       stock contained in our registration statement on Form 8-A, dated
       September 18, 1995 (as amended by the Form 8-A/A filed on November 13,
       1995),

     - Our Current Reports on Form 8-K filed on March 17, 2003, March 25, 2003,
       May 8, 2003, May 30, 2003 and July 8, 2003, and

     - All documents filed by us pursuant to Sections 13(a), 13(c), 14 and 15(d)
       of the Exchange Act after the date of this prospectus and before the
       completion of the exchange offer.

     We will provide without charge to each person, including any beneficial
owner, to whom a copy of this prospectus is delivered, upon written or oral
request of such person, a copy of any or all of the documents referred to above
which have been or may be incorporated by reference in this prospectus. You
should direct requests for those documents to The Hartford Financial Services
Group, Inc., Hartford Plaza, Hartford, Connecticut 06115, Attention: Brian S.
Becker, Senior Vice President and Corporate Secretary (Telephone: 860-547-5000).

                                        30


--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

                                  $320,000,000

                                (HARTFORD LOGO)

        OFFER TO EXCHANGE UP TO $320,000,000 AGGREGATE PRINCIPAL AMOUNT
                      OF OUR 4.625% SENIOR NOTES DUE 2013,
          WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
         FOR ANY AND ALL OF THE $320,000,000 AGGREGATE PRINCIPAL AMOUNT
          OF OUR OUTSTANDING UNREGISTERED 4.625% SENIOR NOTES DUE 2013

                           -------------------------

                                   PROSPECTUS

                                     , 2003

                           -------------------------

     UNTIL   DAYS AFTER THE DATE OF THIS PROSPECTUS, ALL DEALERS THAT EFFECT
TRANSACTIONS IN THE NOTES, WHETHER OR NOT PARTICIPATING IN THIS OFFERING, MAY BE
REQUIRED TO DELIVER A PROSPECTUS. THIS IS IN ADDITION TO THE DEALERS'
OBLIGATIONS TO DELIVER A PROSPECTUS WHEN ACTING AS UNDERWRITERS AND WITH RESPECT
TO THEIR UNSOLD ALLOTMENTS OR SUBSCRIPTIONS.

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------


                                    PART II

                     INFORMATION NOT REQUIRED IN PROSPECTUS

ITEM 20.  INDEMNIFICATION OF DIRECTORS AND OFFICERS

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

     Section 145 of the Delaware General Corporation Law, as amended, provides
in regards to indemnification of directors and officers as follows:

          145.  Indemnification of Officers, Directors, Employees and Agents;
     Insurance.

          (a) A corporation may indemnify any person who was or is a party or is
     threatened to be made a party to any threatened, pending or completed
     action, suit or proceeding, whether civil, criminal, administrative or
     investigative (other than an action by or in the right of the corporation)
     by reason of the fact that the person is or was a director, officer,
     employee or agent of the corporation, or is or was serving at the request
     of the corporation as a director, officer, employee or agent of another
     corporation, partnership, joint venture, trust or other enterprise, against
     expenses (including attorneys' fees), judgments, fines and amounts paid in
     settlement actually and reasonably incurred by the person in connection
     with such action, suit or proceeding if the person acted in good faith and
     in a manner the person reasonably believed to be in or not opposed to the
     best interests of the corporation, and, with respect to any criminal action
     or proceeding, had no reasonable cause to believe the person's conduct was
     unlawful. The termination of any action, suit or proceeding by judgment,
     order, settlement, conviction, or upon a plea of nolo contendere or its
     equivalent, shall not, of itself, create a presumption that the person did
     not act in good faith and in a manner which the person reasonably believed
     to be in or not opposed to the best interests of the corporation, and, with
     respect to any criminal action or proceeding, had reasonable cause to
     believe that the person's conduct was unlawful.

          (b) A corporation may indemnify any person who was or is a party or is
     threatened to be made a party to any threatened, pending or completed
     action or suit by or in the right of the corporation to procure a judgment
     in its favor by reason of the fact that the person is or was a director,
     officer, employee or agent of the corporation, or is or was serving at the
     request of the corporation as a director, officer, employee or agent of
     another corporation, partnership, joint venture, trust or other enterprise
     against expenses (including attorneys' fees) actually and reasonably
     incurred by the person in connection with the defense or settlement of such
     action or suit if the person acted in good faith and in a manner the person
     reasonably believed to be in or not opposed to the best interests of the
     corporation and except that no indemnification shall be made in respect of
     any claim, issue or matter as to which such person shall have been adjudged
     to be liable to the corporation unless and only to the extent that the
     Court of Chancery or the court in which such action or suit was brought
     shall determine upon application that, despite the adjudication of
     liability but in view of all the circumstances of the case, such person is
     fairly and reasonably entitled to indemnity for such expenses which the
     Court of Chancery or such other court shall deem proper.

          (c) To the extent that a present or former director or officer of a
     corporation has been successful on the merits or otherwise in defense of
     any action, suit or proceeding referred to in subsections (a) and (b) of
     this section, or in defense of any claim, issue or matter therein, such
     person shall be indemnified against expenses (including attorneys' fees)
     actually and reasonably incurred by such person in connection therewith.

          (d) Any indemnification under subsections (a) and (b) of this section
     (unless ordered by a court) shall be made by the corporation only as
     authorized in the specific case upon a determination that indemnification
     of the present or former director, officer, employee or agent is proper in
     the circumstances because the person has met the applicable standard of
     conduct set forth in subsections (a) and (b) of this section. Such
     determination shall be made, with respect to a person who is a director or
     officer at the time of such determination, (1) by a majority vote of the
     directors who are not parties to such action, suit or proceeding, even
     though less than a quorum, or (2) by a committee of such directors
                                       II-1


     designated by majority vote of such directors, even though less than a
     quorum, or (3) if there are no such directors, or if such directors so
     direct, by independent legal counsel in a written opinion, or (4) by the
     stockholders.

          (e) Expenses (including attorneys' fees) incurred by an officer or
     director in defending any civil, criminal, administrative or investigative
     action, suit or proceeding may be paid by the corporation in advance of the
     final disposition of such action, suit or proceeding upon receipt of an
     undertaking by or on behalf of such director or officer to repay such
     amount if it shall ultimately be determined that such person is not
     entitled to be indemnified by the corporation as authorized in this
     section. Such expenses (including attorneys' fees) incurred by former
     directors and officers or other employees and agents may be so paid upon
     such terms and conditions, if any, as the corporation deems appropriate.

          (f) The indemnification and advancement of expenses provided by, or
     granted pursuant to, the other subsections of this section shall not be
     deemed exclusive of any other rights to which those seeking indemnification
     or advancement of expenses may be entitled under any bylaw, agreement, vote
     of stockholders or disinterested directors or otherwise, both as to action
     in such person's official capacity and as to action in another capacity
     while holding such office.

          (g) A corporation shall have power to purchase and maintain insurance
     on behalf of any person who is or was a director, officer, employee or
     agent of the corporation, or is or was serving at the request of the
     corporation as a director, officer, employee or agent of another
     corporation, partnership, joint venture, trust or other enterprise against
     any liability asserted against such person and incurred by such person in
     any such capacity, or arising out of such person's status as such, whether
     or not the corporation would have the power to indemnify such person
     against such liability under this section.

          (h) For purposes of this section, references to "the corporation"
     shall include, in addition to the resulting corporation, any constituent
     corporation (including any constituent of a constituent) absorbed in a
     consolidation or merger which, if its separate existence had continued,
     would have had power and authority to indemnify its directors, officers,
     and employees or agents, so that any person who is or was a director,
     officer, employee or agent of such constituent corporation, or is or was
     serving at the request of such constituent corporation as a director,
     officer, employee or agent of another corporation, partnership, joint
     venture, trust or other enterprise, shall stand in the same position under
     this section with respect to the resulting or surviving corporation as such
     person would have with respect to such constituent corporation if its
     separate existence had continued.

          (i) For purposes of this section, references to "other enterprises"
     shall include employee benefit plans; references to "fines" shall include
     any excise taxes assessed on a person with respect to any employee benefit
     plan; and references to "serving at the request of the corporation" shall
     include any service as a director, officer, employee or agent of the
     corporation which imposes duties on, or involves services by, such
     director, officer, employee or agent with respect to an employee benefit
     plan, its participants or beneficiaries; and a person who acted in good
     faith and in a manner such person reasonably believed to be in the interest
     of the participants and beneficiaries of an employee benefit plan shall be
     deemed to have acted in a manner "not opposed to the best interests of the
     corporation" as referred to in this section.

          (j) The indemnification and advancement of expenses provided by, or
     granted pursuant to, this section shall, unless otherwise provided when
     authorized or ratified, continue as to a person who has ceased to be a
     director, officer, employee or agent and shall inure to the benefit of the
     heirs, executors and administrators of such a person.

     Article 4 of The Hartford Financial Services Group, Inc.'s Amended and
Restated By-Laws provides in regard to indemnification of directors and officers
as follows:

          4.1(a) Right to Indemnification.  The Corporation, to the fullest
     extent permitted by applicable law as then in effect, shall indemnify any
     person who is or was a Director or officer of the Corporation and who is or
     was involved in any manner (including, without limitation, as a party or a
     witness) or is threatened to be made so involved in any threatened, pending
     or completed investigation, claim, action,
                                       II-2


     suit or proceeding, whether civil, criminal, administrative or
     investigative (including, without limitation, any action, suit or
     proceeding by or in the right of the Corporation to procure a judgment in
     its favor) (a "Proceeding") by reason of the fact that such person is or
     was a Director, officer, employee or agent of the Corporation or is or was
     serving at the request of the Corporation as a director, officer, employee,
     fiduciary or agent of another corporation, partnership, joint venture,
     trust or other enterprise (including, without limitation, any employee
     benefit plan) (a "Covered Entity"), against all expenses (including
     attorneys' fees), judgments, fines and amounts paid in settlement actually
     and reasonably incurred by such person in connection with such Proceeding.
     Any such former or present Director or officer of the Corporation finally
     determined to be entitled to indemnification as provided in this Article 4
     is hereinafter called an "Indemnitee." Until such final determination is
     made, such former or present Director or officer shall be a "Potential
     Indemnitee" for purposes of this Article 4. Notwithstanding the foregoing
     provisions of this Section 4.1(a), the Corporation shall not indemnify an
     Indemnitee with respect to any Proceeding commenced by such Indemnitee
     unless the commencement of such Proceeding by such Indemnitee has been
     approved by a majority vote of the Disinterested Directors (as defined in
     Section 4.5(d); provided, however, that such approval of a majority of the
     Disinterested Directors shall not be required with respect to any
     Proceeding commenced by such Indemnitee after a Change in Control (as
     defined in Section 4.5(d)) has occurred.

          (b) Effect of Amendments.  Neither the amendment or repeal of, nor the
     adoption of a provision inconsistent with, any provision of this Article 4
     (including, without limitation, this Section 4.1(b)) shall adversely affect
     the rights of any Director or officer under this Article 4 (i) with respect
     to any Proceeding commenced or threatened prior to such amendment, repeal
     or adoption of an inconsistent provision or (ii) after the occurrence of a
     Change in Control, with respect to any Proceeding arising out of any action
     or omission occurring prior to such amendment, repeal or adoption of an
     inconsistent provision, in either case without the written consent of such
     Director or officer.

          4.2 Insurance, Contracts and Funding.  The Corporation may purchase
     and maintain insurance to protect itself and any Director, officer,
     employee or agent of the Corporation against any expenses, judgments, fines
     and amounts paid in settlement as specified in Section 4.1(a) or Section
     4.6 of this Article 4 or incurred by any Director, officer, employee or
     agent of the Corporation in connection with any Proceeding referred to in
     such Sections, to the fullest extent permitted by applicable law as then in
     effect. The Corporation may enter into contracts with any Director,
     officer, employee or agent of the Corporation or any director, officer,
     employee, fiduciary or agent of any Covered Entity in furtherance of the
     provisions of this Article 4 and may create a trust fund or use other means
     (including, without limitation, a letter of credit) to ensure the payment
     of such amounts as may be necessary to effect indemnification as provided
     in this Article 4.

          4.3 Indemnification; Not Exclusive Right.  The right of
     indemnification provided in this Article 4 shall not be exclusive of any
     other rights to which any Indemnitee or Potential Indemnitee may otherwise
     be entitled, and the provisions of this Article 4 shall inure to the
     benefit of the heirs and legal representatives of any Indemnitee or
     Potential Indemnitee under this Article 4 and shall be applicable to
     Proceedings commenced or continuing after the adoption of this Article 4,
     whether arising from acts or omissions occurring before or after such
     adoption.

          4.4 Advancement of Expenses.  Each Potential Indemnitee shall be
     entitled to receive advance payment of any expenses actually and reasonably
     incurred by such Potential Indemnitee in connection with such Proceeding
     prior to a determination of entitlement to indemnification pursuant to
     Section 4.5(a). Each Potential Indemnitee shall submit a statement or
     statements to the Corporation requesting such advance or advances from time
     to time, whether prior to or after final disposition of such Proceeding,
     reasonably evidencing the expenses incurred by such Potential Indemnitee
     and accompanied by an undertaking by or on behalf of such Potential
     Indemnitee to repay the amounts advanced if ultimately it should be
     determined that such Potential Indemnitee is not entitled to be indemnified
     against such expenses pursuant to this Article 4. A determination of the
     reasonableness of such expenses shall be made and such reasonable expenses
     shall be advanced pursuant to procedures to be established from time to
     time by the Board or its designee(s) (the "Advancement Procedures"). The
     amendment or
                                       II-3


     repeal of, and the adoption of a provision inconsistent with, any provision
     of the Advancement Procedures shall be governed by Section 4.1(b) of this
     Article 4. Notwithstanding the foregoing provisions of this Section 4.4,
     the Corporation shall not advance expenses to a Potential Indemnitee with
     respect to any Proceeding commenced by such Potential Indemnitee unless the
     commencement of such Proceeding by such Potential Indemnitee has been
     approved by a majority vote of the Disinterested Directors; provided,
     however, that such approval of a majority of the Disinterested Directors
     shall not be required with respect to any Proceeding commenced by such
     Potential Indemnitee after a Change in Control has occurred.

          4.5 Indemnification Procedures; Presumptions and Effect of Certain
     Proceedings; Remedies.  In furtherance, but not in limitation, of the
     foregoing provisions of this Article 4, the following procedures,
     presumptions and remedies shall apply with respect to the right to
     indemnification under this Article 4:

             (a) Procedures for Determination of Entitlement to
        Indemnification.  (i) To obtain indemnification under this Article 4,
        Potential Indemnitee shall submit to the Secretary of the Corporation a
        written request, including such documentation and information as is
        reasonably available to the Potential Indemnitee and reasonably
        necessary to determine whether and to what extent the Potential
        Indemnitee is entitled to indemnification (the "Supporting
        Documentation"). The determination of the Potential Indemnitee's
        entitlement to indemnification shall be made not later than 60 days
        after the later of (A) the receipt by the Corporation of the written
        request for indemnification together with the Supporting Documentation
        and (B) the receipt by the Corporation of written notice of final
        disposition of the Proceeding for which indemnification is sought. The
        Secretary of the Corporation shall, promptly upon receipt of such a
        request for indemnification, advise the Board in writing that the
        Indemnitee has requested indemnification.

             (ii) The Potential Indemnitee's entitlement to indemnification
        under this Article 4 shall be determined in one of the following ways:
        (A) by a majority vote of the Disinterested Directors whether or not
        they constitute a quorum of the Board; (B) by a committee of the
        Disinterested Directors designated by a majority vote of the
        Disinterested Directors, whether or not they constitute a quorum of the
        Board; (C) by a written opinion of Independent Counsel as defined in
        Section 4.5(d)) if (x) a Change in Control shall have occurred and the
        Potential Indemnitee so requests or (y) there are no Disinterested
        Directors or a majority of such Disinterested Directors so directs; (D)
        by the stockholders of the Corporation; or (E) as provided in Section
        4.5(b) of this Article 4.

             (iii) In the event the determination of entitlement to
        indemnification is to be made by Independent Counsel pursuant to Section
        4.5(a)(ii), a majority of the Disinterested Directors (or, if there are
        no Disinterested Directors, the General Counsel of the Corporation or,
        if the General Counsel is or was a party to the Proceeding in respect of
        which indemnification is sought, the highest ranking officer of the
        Corporation who is not and was not a party to such Proceeding) shall
        select the Independent Counsel, but only an Independent Counsel to which
        the Potential Indemnitee does not reasonably object; provided, however,
        that if a Change in Control shall have occurred, the Potential
        Indemnitee shall select such Independent Counsel, but only an
        Independent Counsel to which a majority of the Disinterested Directors
        does not reasonably object.

             (b) Presumptions and Effect of Certain Proceedings.  Except as
        otherwise expressly provided in this Article 4, if a Change in Control
        shall have occurred, the Potential Indemnitee shall be presumed to be
        entitled to indemnification under this Article 4 (with respect to
        actions or failures to act occurring prior to such Change in Control)
        upon submission of a request for indemnification together with the
        Supporting Documentation in accordance with Section 4.5(a)(i)(A) of this
        Article 4, and thereafter the Corporation shall have the burden of proof
        to overcome that presumption in reaching a contrary determination. In
        any event, if the person or persons empowered under Section 4.5(a) of
        this Article 4 to determine entitlement to indemnification shall not
        have been appointed or shall not have made a determination within 60
        days after the later of (x) receipt by the Corporation of the written
        request for indemnification together with the Supporting Documentation
        and (y) the receipt by the Corporation of written notice of final
        disposition of the

                                       II-4


        Proceeding for which indemnification is sought, the Potential Indemnitee
        shall be deemed to be, and shall be, entitled to indemnification. The
        termination of any Proceeding or of any claim, issue or matter therein,
        by judgment, order, settlement or conviction, or upon a plea of nolo
        contendere or its equivalent, shall not, of itself, adversely affect the
        right of the Potential Indemnitee to indemnification or create a
        presumption that the Potential Indemnitee did not act in good faith and
        in a manner which the Indemnitee reasonably believed to be in or not
        opposed to the best interests of the Corporation or, with respect to any
        criminal Proceeding, that the Potential Indemnitee had reasonable cause
        to believe that his or her conduct was unlawful.

             (c) Remedies.  (i) In the event that a determination is made
        pursuant to Section 4.5(a) of this Article 4 that the Potential
        Indemnitee is not entitled to indemnification under this Article 4, (A)
        the Potential Indemnitee shall be entitled to seek an adjudication of
        his or her entitlement to such indemnification either, at the Potential
        Indemnitee's sole option, in (x) an appropriate court of the state of
        Delaware or any other court of competent jurisdiction or (y) an
        arbitration to be conducted by a single arbitrator pursuant to the rules
        of the American Arbitration Association; (B) any such judicial
        proceeding or arbitration shall be de novo and the Indemnitee shall not
        be prejudiced by reason of such adverse determination; and (C) if a
        Change in Control shall have occurred, in any such judicial proceeding
        or arbitration, the Corporation shall have the burden of proving that
        the Potential Indemnitee is not entitled to indemnification under this
        Article 4 (with respect to actions or omissions occurring prior to such
        Change in Control).

             (ii) If a determination shall have been made or deemed to have been
        made, pursuant to Section 4.5(a) or (b) of this Article 4, that the
        Potential Indemnitee is entitled to indemnification, the Corporation
        shall be obligated to pay the amounts constituting such indemnification
        within five days after such determination has been made or deemed to
        have been made and shall be conclusively bound by such determination
        unless (A) the Indemnitee misrepresented or failed to disclose a
        material fact in making the request for indemnification or in the
        Supporting Documentation or (B) such indemnification is prohibited by
        law. In the event that payment of indemnification is not made within
        five days after a determination of entitlement to indemnification has
        been made or deemed to have been made pursuant to Section 4.5(a) or (b)
        of this Article 4, the Indemnitee shall be entitled to seek judicial
        enforcement of the Corporation's obligation to pay to the Indemnitee
        such indemnification. Notwithstanding the foregoing, the Corporation may
        bring an action, in an appropriate court in the state of Delaware or any
        other court of competent jurisdiction, contesting the right of the
        Indemnitee to receive indemnification hereunder due to the occurrence of
        an event described in Subclause (A) or (B) of this subsection (each, a
        "Disqualifying Event"); provided, however, that in any such action the
        Corporation shall have the burden of proving the occurrence of such
        Disqualifying Event.

             (iii) The Corporation shall be precluded from asserting in any
        judicial proceeding or arbitration commenced pursuant to this Section
        4.5(c) that the procedures and presumptions of this Article 4 are not
        valid, binding and enforceable and shall stipulate in any such court or
        before any such arbitrator that the Corporation is bound by all the
        provisions of this Article 4.

             (iv) In the event that the Indemnitee or Potential Indemnitee,
        pursuant to this Section 4.5(c), seeks a judicial adjudication of or an
        award in arbitration to enforce his or her rights under, or to recover
        damages for breach of, this Article 4, such person shall be entitled to
        recover from the Corporation, and shall be indemnified by the
        Corporation against, any expenses actually and reasonably incurred by
        such person in connection with such judicial adjudication or
        arbitration. If it shall be determined in such judicial adjudication or
        arbitration that such person is entitled to receive part but not all of
        the indemnification or advancement of expenses sought, the expenses
        incurred by such person in connection with such judicial adjudication or
        arbitration shall be prorated accordingly.

                                       II-5


             (d) Definitions.  For purposes of this Article 4:

                (i) "Change in Control" means a change in control of the
           Corporation of a nature that would be required to be reported in
           response to Item 6(e) (or any successor provision) of Schedule 14A of
           Regulation 14A (or any amendment or successor provision thereto)
           promulgated under the Securities Exchange Act of 1934, as amended
           (the "Act"), whether or not the Corporation is then subject to such
           reporting requirement; provided that, without limitation, such a
           change in control shall be deemed to have occurred if (A) any
           "person" (as such term is used in Sections 13(d) and 14(d) of the
           Act) is or becomes the "beneficial owner" (as defined in Rule 13d-3
           under the Act), directly or indirectly, of securities of the
           Corporation representing 20% or more of the voting power of all
           outstanding shares of stock of the Corporation entitled to vote
           generally in an election of Directors without the prior approval of
           at least two-thirds of the members of the Board in office immediately
           prior to such acquisition; (B) the Corporation is a party to any
           merger or consolidation in which the Corporation is not the
           continuing or surviving corporation or pursuant to which shares of
           the Corporation's common stock would be converted into cash,
           securities or other property, other than a merger of the Corporation
           in which the holders of the Corporation's common stock immediately
           prior to the merger have the same proportionate ownership of common
           stock of the surviving corporation immediately after the merger; (C)
           there is a sale, lease, exchange or other transfer (in one
           transaction or a series of related transactions) of all, or
           substantially all, the assets of the Corporation, or liquidation or
           dissolution of the Corporation; (D) the Corporation is a party to a
           merger, consolidation, sale of assets or other reorganization, or a
           proxy contest, as a consequence of which members of the Board in
           office immediately prior to such transaction or event constitute less
           than a majority of the Board thereafter; or (E) during any period of
           two consecutive years, individuals who at the beginning of such
           period constituted the Board (including for this purpose any new
           Director whose election or nomination for election by the
           stockholders was approved by a vote of at least two-thirds of the
           Directors then still in office who were Directors at the beginning of
           such period) cease for any reason to constitute at least a majority
           of the Board.

                (ii) "Disinterested Director" means a Director who is not or was
           not a party to the Proceeding in respect of which indemnification is
           sought by the Indemnitee or Potential Indemnitee.

                (iii) "Independent Counsel" means a law firm or a member of a
           law firm that neither presently is, nor in the past five years has
           been, retained to represent: (a) the Corporation or the Indemnitee in
           any matter material to either such party or (b) any other party to
           the Proceeding giving rise to a claim for indemnification under this
           Article 4. Notwithstanding the foregoing, the term "Independent
           Counsel" shall not include any person who, under applicable standards
           of professional conduct then prevailing under the law of the State of
           Delaware, would have a conflict of interest in representing either
           the Corporation or the Indemnitee or Potential Indemnitees in an
           action to determine the Indemnitee's or Potential Indemnitee's rights
           under this Article 4.

          4.6 Indemnification of Employees and Agents.  Notwithstanding any
     other provision of this Article 4, the Corporation, to the fullest extent
     permitted by applicable law as then in effect, may indemnify any person
     other than a Director or officer of the Corporation who is or was an
     employee or agent of the Corporation and who is or was involved in any
     manner (including, without limitation, as a party or a witness) or is
     threatened to be made so involved in any threatened, pending or completed
     Proceeding by reasons of the fact that such person is or was an employee or
     agent of the Corporation or was or is serving, at the request of the
     Corporation, as a director, officer, employee, or agent of a Covered Entity
     against all expenses (including attorneys' fees), judgments, fines and
     amounts paid in settlement actually and reasonably incurred by such person
     in connection with such Proceeding. The Corporation may also advance
     expenses incurred by such employee, fiduciary or agent in connection with
     any such Proceeding, consistent with the provisions of applicable law as
     then in effect. If made or advanced, such
                                       II-6


     indemnification shall be made and such reasonable expenses shall be
     advanced pursuant to procedures to be established from time to time by the
     Board or its designee(s).

          4.7 Severability.  If any of this Article 4 shall be held to be
     invalid, illegal or unenforceable for any reason whatsoever: (i) the
     validity, legality and enforceability of the remaining provisions of this
     Article 4 (including, without limitation, all portions of any Section of
     this Article 4 containing any such provision held to be invalid, illegal or
     unenforceable, that are not themselves invalid, illegal or unenforceable)
     shall not in any way be affected or impaired thereby; and (ii) to the
     fullest extent possible, the provisions of this Article 4 (including,
     without limitation, all portions of any Section of this Article 4
     containing any such provision held to be invalid, illegal or unenforceable,
     that are not themselves invalid, illegal or unenforceable) shall be
     construed so as to give effect to the intent manifested by the provision
     held invalid, illegal or unenforceable.

     Section 102(b)(7) of the Delaware General Corporation Law, as amended,
provides in regard to the limitation of liability of directors and officers as
follows:

          (b) In addition to the matters required to be set forth in the
     certificate of incorporation by subsection (a) of this section, the
     certificate of incorporation may also contain any or all of the following
     matters:

             (7) A provision eliminating or limiting the personal liability of a
        director to the corporation or its stockholders for monetary damages for
        breach of fiduciary duty as a director, provided that such provision
        shall not eliminate or limit the liability of a director: (i) for any
        breach of the director's duty of loyalty to the corporation or its
        stockholders, (ii) for acts or omissions not in good faith or which
        involve intentional misconduct or a knowing violation of law, (iii)
        under section 174 of this Title, or (iv) for any transaction from which
        the director derived an improper personal benefit. No such provision
        shall eliminate or limit the liability of a director for any act or
        omission occurring prior to the date when such provision becomes
        effective. All references in this paragraph to a director shall also be
        deemed to refer (x) to a member of the governing body of a corporation
        which is not authorized to issue capital stock, and (y) to such other
        person or persons, if any, who, pursuant to a provision of the
        certificate of incorporation in accordance with sec. 141(a) of this
        title, exercise or perform any of the powers or duties otherwise
        conferred or imposed upon the board of directors by this title.

     As permitted by Section 102(b)(7) of the Delaware General Corporation Law,
Article SIXTH of The Hartford Financial Services Group, Inc.'s Amended and
Restated Certificate of Incorporation provides in regard to the limitation of
liability of directors and officers as follows:

          To the fullest extent permitted by applicable law as then in effect,
     no director or officer shall be personally liable to the Corporation or any
     of its stockholders for damages for breach of fiduciary duty as a director
     or officer, except for liability (a) for any breach of the director's duty
     of loyalty to the Corporation or its stockholders, (b) for acts or
     omissions not in good faith or which involve intentional misconduct or a
     knowing violation of law, (c) under Section 174 of the Delaware General
     Corporation Law, (d) for any transaction from which the director derived an
     improper personal benefit or (e) for any act or omission occurring prior to
     the effective date of this ARTICLE SIXTH. Any repeal or modification of
     this ARTICLE SIXTH by the stockholders of the Corporation shall not
     adversely affect any right or protection of a director or officer of the
     Corporation existing at the time of such repeal or modification with
     respect to acts or omissions occurring prior to such repeal or
     modification.

     We have policies in force and effect that insure our directors and officers
against losses which they or any of them will become legally obligated to pay by
reason of any actual or alleged error or misstatement or misleading statement or
act or omission or neglect or breach of duty by such directors and officers in
the discharge of their duties, individually or collectively, or as a result of
any matter claimed against them solely by reason of their being directors or
officers. Such coverage is limited by the specific terms and provisions of the
insurance policies.

                                       II-7


ITEM 21.  EXHIBITS

     (a) The following exhibits are filed herewith or incorporated herein by
reference.



EXHIBIT
  NO.                             DESCRIPTION
-------                           -----------
       
  4.01    Senior Indenture, dated as of October 20, 1995, between The
          Hartford Financial Services Group, Inc. ("The Hartford") and
          JPMorgan Chase Bank as Trustee (incorporated herein by
          reference to Exhibit 4.03 to the Registration Statement on
          Form S-3 (Registration No. 333-103915) of The Hartford,
          Hartford Capital IV, Hartford Capital V and Hartford Capital
          VI).
  4.02    Supplemental Indenture No. 1, dated as of December 27, 2000,
          to the Senior Indenture filed as Exhibit 4.01 hereto,
          between The Hartford and JPMorgan Chase Bank as Trustee
          (incorporated herein by reference to Exhibit 4.30 to the
          Registration Statement on Form S-3 (Amendment No. 1)
          (Registration No. 333-49666) of The Hartford, Hartford
          Capital III, Hartford Capital IV and Hartford Capital V).
  4.03    Supplemental Indenture No. 4, dated as of July 10, 2003, to
          the Senior Indenture filed as Exhibit 4.01 hereto, between
          The Hartford and JPMorgan Chase Bank, as Trustee
          (incorporated herein by reference to Exhibit 4.01 to The
          Hartford's Form 10-Q for the quarterly period ended
          September 30, 2003).
  4.04    Registration Rights Agreement, dated as of July 10, 2003,
          between The Hartford, Banc of America Securities LLC,
          Wachovia Capital Markets, LLC and Banc One Capital Markets,
          Inc.*
  4.05    Form of 4.625% Senior Note due July 15, 2013 (included in
          Exhibit 4.03).
  5.01    Opinion of Debevoise & Plimpton.*
 12.01    Statement Re: Computation of Ratio of Earnings to Fixed
          Charges.*
 15.01    Letter of Deloitte & Touche LLP (re: unaudited interim
          financial information).*
 23.01    Consent of Deloitte & Touche LLP.*
 23.02    Consent of Debevoise & Plimpton (included in Exhibit 5.01).
 24.01    Power of Attorney of certain officers and directors of The
          Hartford.*
 25.01    Statement of Eligibility under the Trust Indenture Act of
          1939 of JPMorgan Chase Bank, as Trustee for The Senior Debt
          Securities.*
 99.1     Form of Letter of Transmittal.+
 99.2     Form of Notice of Guaranteed Delivery.+
 99.3     Form of Letter to Brokers, Dealers, Commercial Banks, Trust
          Companies and other Nominees.+
 99.4     Form of Letter to Clients.+


---------------

 *  Filed herewith

 +  To be filed by amendment

     (b) Not applicable.

     (c) Not applicable.

ITEM 22.  UNDERTAKINGS

     (a) Filings Incorporating Subsequent Exchange Act Documents by Reference

     The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to section 15(d) of the Securities Exchange Act of
1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.

     (b) Acceleration of Effectiveness

     Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise,

                                       II-8


the registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person, if any, of the registrant in the successful defense of any action, suit
or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, such registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and will
be governed by the final adjudication of such issue.

     (c) Additional Undertakings

     The undersigned registrant hereby undertakes to respond to requests for
information that is incorporated by reference into the prospectus pursuant to
Items 4, 10(b), 11, or 13 of this form, within one business day of receipt of
such request, and to send the incorporated documents by first class mail or
other equally prompt means. This includes information contained in documents
filed subsequent to the effective date of the registration statement through the
date of responding to the request.

     The undersigned registrant hereby undertakes to supply by means of a
post-effective amendment all information concerning a transaction, and the
company being acquired involved therein, that was not the subject of and
included in the registration statement when it became effective.

                                       II-9


                                   SIGNATURES

     Pursuant to the requirements of the Securities Act, the registrant has duly
caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Hartford, State of
Connecticut, on this 5th day of November, 2003.

                                          THE HARTFORD FINANCIAL SERVICES GROUP,
                                          INC.

                                          By:      /s/ BRIAN S. BECKER
                                            ------------------------------------
                                            Name:  Brian S. Becker
                                            Title:   Senior Vice President
                                                      and Corporate Secretary

     Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the dates indicated.



              SIGNATURE                               TITLE                      DATE
              ---------                               -----                      ----
                                                                  

                  *                        Chairman, President, Chief      November 5, 2003
--------------------------------------   Executive Officer and Director
             Ramani Ayer                  (Principal Executive Officer)


                  *                       Executive Vice President and     November 5, 2003
--------------------------------------              Director
           Thomas M. Marra


                  *                       Executive Vice President and     November 5, 2003
--------------------------------------              Director
           David K. Zwiener


                  *                       Executive Vice President and     November 5, 2003
--------------------------------------       Chief Financial Officer
           David M. Johnson               (Principal Financial Officer)


                  *                           Senior Vice President        November 5, 2003
--------------------------------------           and Controller
           Robert J. Price               (Principal Accounting Officer)


                  *                                 Director               November 5, 2003
--------------------------------------
           Rand V. Araskog


                  *                                 Director               November 5, 2003
--------------------------------------
           Donald R. Frahm


                  *                                 Director               November 5, 2003
--------------------------------------
         Edward J. Kelly, III


                  *                                 Director               November 5, 2003
--------------------------------------
          Paul G. Kirk, Jr.


                  *                                 Director               November 5, 2003
--------------------------------------
           Gail J. McGovern


                                      II-10




              SIGNATURE                               TITLE                      DATE
              ---------                               -----                      ----

                                                                  

                  *                                 Director               November 5, 2003
--------------------------------------
          Robert W. Selander


                  *                                 Director               November 5, 2003
--------------------------------------
          Charles B. Strauss


                  *                                 Director               November 5, 2003
--------------------------------------
          H. Patrick Swygert


                  *                                 Director               November 5, 2003
--------------------------------------
           Gordon I. Ulmer


 *By:        /s/ BRIAN S. BECKER
        ------------------------------
             As Attorney-in-Fact


                                      II-11


                                 EXHIBIT INDEX



EXHIBIT
  NO.                             DESCRIPTION
-------                           -----------
       
  4.01    Senior Indenture, dated as of October 20, 1995, between The
          Hartford Financial Services Group, Inc. ("The Hartford") and
          JPMorgan Chase Bank as Trustee (incorporated herein by
          reference to Exhibit 4.03 to the Registration Statement on
          Form S-3 (Registration No. 333-103915) of The Hartford,
          Hartford Capital IV, Hartford Capital V and Hartford Capital
          VI).
  4.02    Supplemental Indenture No. 1, dated as of December 27, 2000,
          to the Senior Indenture filed as Exhibit 4.01 hereto,
          between The Hartford and JPMorgan Chase Bank as Trustee
          (incorporated herein by reference to Exhibit 4.30 to the
          Registration Statement on Form S-3 (Amendment No. 1)
          (Registration No. 333-49666) of The Hartford, Hartford
          Capital III, Hartford Capital IV and Hartford Capital V).
  4.03    Supplemental Indenture No. 4, dated as of July 10, 2003, to
          the Senior Indenture filed as Exhibit 4.01 hereto, between
          The Hartford and JPMorgan Chase Bank, as Trustee
          (incorporated herein by reference to Exhibit 4.01 to The
          Hartford's Form 10-Q for the quarterly period ended
          September 30, 2003).
  4.04    Registration Rights Agreement, dated as of July 10, 2003,
          between The Hartford, Banc of America Securities LLC,
          Wachovia Capital Markets, LLC and Banc One Capital Markets,
          Inc.*
  4.05    Form of 4.625% Senior Note due July 15, 2013 (included in
          Exhibit 4.03).
  5.01    Opinion of Debevoise & Plimpton.*
 12.01    Statement Re: Computation of Ratio of Earnings to Fixed
          Charges.*
 15.01    Letter of Deloitte & Touche LLP (re: unaudited interim
          financial information).*
 23.01    Consent of Deloitte & Touche LLP.*
 23.02    Consent of Debevoise & Plimpton (included in Exhibit 5.01).
 24.01    Power of Attorney of certain officers and directors of The
          Hartford.*
 25.01    Statement of Eligibility under the Trust Indenture Act of
          1939 of JPMorgan Chase Bank, as Trustee for the Senior Debt
          Securities.*
 99.1     Form of Letter of Transmittal.+
 99.2     Form of Notice of Guaranteed Delivery.+
 99.3     Form of Letter to Brokers, Dealers, Commercial Banks, Trust
          Companies and other Nominees.+
 99.4     Form of Letter to Clients.+


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* Filed herewith

+ To be filed by amendment