485APOS 1 combopdftemplatefiling.htm 485APOS PDF Template filing 485APOS Combined Document


As filed with the Securities and Exchange Commission on January 16, 2018
File No. 333-176149
811-04972
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

------------
FORM N-4
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
------------
PRE-EFFECTIVE AMENDMENT NO.
 
/ /
POST-EFFECTIVE AMENDMENT NO.
14
/X/

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

AMENDMENT NO.
644
/X/

HARTFORD LIFE INSURANCE COMPANY
SEPARATE ACCOUNT SEVEN

(Exact Name of Registrant)

HARTFORD LIFE INSURANCE COMPANY

(Name of Depositor)

P.O. BOX 2999
HARTFORD, CT 06104-2999

(Address of Depositor's Principal Offices)

(860) 547-4390

(Depositor's Telephone Number, Including Area Code)

LISA PROCH
HARTFORD LIFE INSURANCE COMPANY
P.O. BOX 2999
HARTFORD, CT 06104-2999

(Name and Address of Agent for Service)
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APPROXIMATE DATE OF PROPOSED PUBLIC OFFERING:
AS SOON AS PRACTICABLE AFTER THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT.
------------

It is proposed that this filing will become effective:
/ /
immediately upon filing pursuant to paragraph (b) of Rule 485
/ /
on _____ pursuant to paragraph (b) of Rule 485
/ /
60 days after filing pursuant to paragraph (a)(1) of Rule 485
/X/
on January 16, 2018 pursuant to paragraph (a)(1) of Rule 485
/ /
this post-effective amendment designates a new effective date for a previously filed post-effective amendment
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The Prospectus and Statement of Additional Information are incorporated in Part A of this Post-Effective Amendment No. 14, by reference to Post-Effective Amendment No. 11 to the Registration Statement on Form N-4 (File No. 333-176149), as filed on April 20, 2017. 2016 year end financial statements, and Form 8-K filed on December 4, 2017, are incorporated in Part B of this Post-Effective Amendment No. 14, by reference to Post-Effective Amendment No. 11 to the Registration Statement on Form N-4 (File No. 333-176149), as filed on April 20, 2017. Unaudited Financial Statements as of and for the nine months ended September 30, 2017 are included in Part B of the registration statement.

A Supplement to the Prospectus, dated January 16, 2018, is included in Part A of this Post-Effective Amendment.

This Post-Effective Amendment No. 14 does not supersede Post-Effective Amendment No. 11 filed on April 20, 2017.





PART A


 




Supplement Dated January 16, 2018 to your Prospectus Dated May 1, 2017
HARTFORD'S PERSONAL RETIREMENT MANAGER SELECT III
This Supplement addresses the proposed reorganization of the HIMCO VIT Portfolio Diversifier Fund ("HVIT PDF Fund"), a series of HIMCO Variable Insurance Trust (the "HIMCO Trust") whereby the HIMCO PDF Fund will "merge" into the BlackRock Managed Volatility V.I Fund. When the merger occurs, all of the assets of the HIMCO PDF Fund will automatically move to the BlackRock Managed Volatility V.I Fund and the HIMCO PDF Fund will cease to exist. The HIMCO PDF Fund is offered as an investment option under your and other certain variable annuity contracts (“Contracts”) issued by Hartford Life Insurance Company and Hartford Life and Annuity Insurance Company (together “Hartford Life”). The HIMCO PDF Fund is referred to as the “Target Fund.”
This supplement addresses:
The proposed reorganization
The new investment option
Modifications to investment restrictions
Other changes that will apply if the proposed reorganization is approved
All capitalized terms not defined herein have the meanings ascribed to them in the Prospectus.
The Proposed Reorganization
At meetings held on September 15, 2017 and December 1, 2017, the Board of Trustees of the HIMCO Trust (the “HIMCO Board”), including the Trustees who are not “interested persons” of the HIMCO Trust, as defined in the 1940 Act, considered and unanimously approved an Agreement and Plan of Reorganization which provides for (i) the transfer and delivery of substantially all of the assets of the Target Fund to the BlackRock Managed Volatility V.I. Fund (the "Acquiring Fund") in exchange for the assumption by the Acquiring Fund of certain stated liabilities of the Target Fund and newly-issued shares of the Acquiring Fund; (ii) the distribution of such shares of the Acquiring Fund to shareholders of the Target Fund; and (iii) the termination, dissolution and complete liquidation of the Target Fund as a series of the Target Trust.  The HIMCO Board also agreed to submit to shareholders the proposal to approve the Agreement and Plan of Reorganization. As a Contract Holder, you have the right to instruct your insurance company (the legal owner of the Target Fund's outstanding shares) on how to vote the shares of the Target Fund that are attributable to your Contract.
The shareholder meeting of the Target Fund, a series of the HIMCO Trust, will be held on April 4, 2018 (the “Special Meeting”). The purpose of the Special Meeting is for shareholders of the Target Fund to vote on a proposal that would reorganize the Target Fund into the Acquiring Fund of BlackRock Variable Series Funds, Inc. as shown in the table below.
Name of Target Fund and Class of Shares
Name of Acquiring Fund and Class of Shares
HIMCO VIT Portfolio Diversifier Fund
Class IB Shares
BlackRock Managed Volatility V.I. Fund
Class III Shares

If approved by shareholders of the Target Fund at the Special Meeting, the Reorganization is expected to occur on or about April 23, 2018 ("Closing Date"). Pursuant to the Agreement and Plan of Reorganization, each shareholder of the Target Fund at the time of the Reorganization will receive shares of the corresponding class of shares of the Acquiring Fund with an aggregate net asset value equal to the aggregate net asset value of that shareholder’s investment in the Target Fund immediately before the Reorganization. 
The Reorganization will not cause fees and charges currently being paid under your Contract to be greater after the Reorganization than before the Reorganization, and the net portfolio expense ratio of the Acquiring Fund is expected to be lower than that of the Target Fund immediately following the Reorganization. Neither your rights nor your insurance company’s obligations under your Contract will be altered as a result of the Reorganization. In addition, any transfer of your contract value from a Sub-Account investing in the Target Fund as a result of the Reorganization will not be counted against any limitation on the number of transfers that may be performed.




If the proposed reorganization is approved, the HIMCO PDF Fund would cease to exist after the Closing Date. In addition, and as discussed further below, effective on the Closing Date:
The BlackRock Managed Volatility V.I. Fund would replace the HIMCO PDF Fund as an investment option under the Contracts.
Contract Owners with Contract Values allocated to the HIMCO PDF Fund on the Closing Date would have their contract values automatically reallocated to the BlackRock Managed Volatility V.I. Fund.
The proposed reorganization would take place at relative net asset value with no change in the dollar amount of any Contract Values. Contract Owners would not bear any costs as a result of the proposed reorganization, and the proposed reorganization would not result in any tax liability for Contract Owners.
Prior to or after the Closing Date, Contract Owners may reallocate their Contract Values among the investment options available under their Contracts. However, if you own an optional living and/or death benefit rider, please be aware you may be required to comply with investment restrictions in order to maintain your rider. As discussed further below, if the proposed reorganization is approved, investment restrictions under the Contracts will be changed.
New Investment Option
If the proposed reorganization is approved, effective on the Closing Date, the BlackRock Managed Volatility V.I. Fund will replace the HIMCO PDF Fund as an investment option under the Contracts.
All references to the HIMCO PDF Fund in the prospectus are eliminated as of the Closing Date of the merger.
In “Appendix C - Fund Data,” the following information is added alphabetically under BlackRock Variable Series Funds, Inc.
Funding Option
Investment Objective Summary
Investment Adviser/Sub-Adviser
BlackRock Managed Volatility V.I. Fund - Class III
Seeks a level of current income and degree of stability of principal not normally available from an investment solely in equity securities, as well as the opportunity for capital appreciation greater than is normally available from an investment solely in debt securities
BlackRock Advisors, LLC
Modifications to Investment Restrictions
This portion of the Supplement is applicable ONLY to Contract Owners who own any of the riders listed below (the “Riders”), each of which is subject to investment restrictions:
Safety Plus
Future6
Daily Lock Income Benefit
Income Foundation Builder
Legacy Lock
If you elected a Rider, your Contract Value allocations are subject to certain investment restrictions. These investment restrictions, which are described in Appendix D of the Prospectus, require you to allocate all Contract Value to a Personal Protection Portfolio. Each of the Personal Protection Portfolios listed in Appendix D currently has a 50% allocation to the HIMCO PDF Fund.
The Personal Protection Portfolios, and particularly the 50% allocation of Contract Value to the HIMCO PDF Fund, are intended to reduce the overall volatility of your investment. As further described in the Prospectus, the Personal Protection Portfolios may fail to manage volatility as intended. In addition, reduced volatility may reduce investment returns that you might have received during favorable market conditions and may mitigate Hartford Life’s guarantee obligations under the Contracts. You should refer to the Prospectus for information about how managed volatility may generally impact your Contract Value and Hartford Life’s obligations.
The HIMCO PDF Fund seeks to manage volatility by providing performance results that generally are negatively correlated to the performance of the other Funds within the Personal Protection Portfolios. Pursuant to its principal investment strategies, the HIMCO PDF Fund invests its assets among equity securities, fixed-income securities, and

2



derivative instruments based on Contract Owners’ allocations to the other Funds within the Personal Protection Portfolios.
If the Agreement and Plan of Reorganization for the HIMCO PDF Fund is approved, the HIMCO PDF Fund will be reorganized into the BlackRock Managed Volatility V.I. Fund on the Closing Date. The HIMCO PDF Fund will thereafter cease to exist. Your Contract Values allocated to the HIMCO PDF Fund will be automatically reallocated to the BlackRock Managed Volatility V.I. Fund, as previously described.
This automatic reallocation will not violate your investment restrictions because Hartford Life will revise the investment restrictions such that the BlackRock Managed Volatility V.I. Fund will replace the HIMCO PDF Fund within the Personal Protection Portfolios. This means that after the Reorganization, each Personal Protection Portfolio will contain an allocation of 50% to the BlackRock Managed Volatility V.I. Fund, as reflected in the attached revised Appendix D. The revised Personal Protection Portfolios are referred to herein as the “Updated Personal Protection Portfolios.”
If you do not wish to invest in one of the Updated Personal Protection Portfolios after the Closing Date, Hartford Life will also permit you to allocate 100% of your Contract Value to the BlackRock Managed Volatility V.I. Fund as shown in the attached revised Appendix D. You must allocate 100% of your Contract Value to an Updated Personal Protection Portfolio OR 100% of your Contract Value to the BlackRock Managed Volatility V.I. Fund to comply with your Rider’s investment restrictions.
Following the Reorganization of the HIMCO PDF Fund, if 100% of your Contract Value is not allocated to either an Updated Personal Protection Portfolio or to the BlackRock Managed Volatility V.I. Fund, your Rider will be terminated. Please refer to the Prospectus for additional information about Rider termination.
The HIMCO PDF Fund and the BlackRock Managed Volatility V.I. Fund do not seek to manage volatility in the same manner. Unlike the HIMCO PDF Fund, the BlackRock Managed Volatility V.I. Fund does not seek to manage volatility based on Contract Owners’ allocations to the other Funds within the Personal Protection Portfolios. Instead, the BlackRock Managed Volatility V.I. Fund utilizes a volatility control process that is independent of Contract Owners’ allocations of Contract Value. However, like the HIMCO PDF Fund, the BlackRock Managed Volatility V.I. Fund may reduce investment returns that you might receive during favorable market conditions and may mitigate Hartford Life’s guarantee obligations under the Contracts. In addition, the BlackRock Managed Volatility V.I. Fund may fail to achieve its investment objective, which includes managing volatility.
Due to the differences between how the HIMCO PDF Fund and the BlackRock Managed Volatility V.I. Fund seek to manage volatility, Hartford Life expects the Updated Personal Protection Portfolios to be subject to greater volatility than the current Personal Protection Portfolios. If you desire your Contract Value to be subject to less volatility, a 100% allocation to the BlackRock Managed Volatility V.I. Fund may be more appropriate for you. You should consult with your financial professional about which investment options are best for you. Some factors you may consider and discuss with your financial professional when reviewing the Updated Personal Protection Portfolios and the BlackRock Managed Volatility V.I. Fund are: your investment time horizon and risk appetite, the importance of protecting your Contract Values from volatility, the impact that managed volatility may have on your investment returns during favorable market conditions, and the likelihood that you will utilize or realize your Rider benefits.
For a complete description of the investment objectives, principal investment strategies, and principal risks of the HIMCO PDF Fund, please refer to it's currently effective prospectus, which you can request free of charge by calling 1-800-862-6668, by sending an e-mail to hvitfunds@himco.com, or visiting www.hvitfunds.com/fund-literature. For a complete description of the investment objectives, principal investment strategies, and principal risks of the BlackRock Managed Volatility V.I. Fund, please refer to it's currently effective prospectus, which you can request free of charge by calling 1-800-441-7762; writing to “BlackRock Variable Series Funds, Inc.” at 100 Bellevue Parkway, Wilmington, Delaware 19809; or visiting www.blackrock.com. You may also call Hartford Life at 1-800-862-6668 or visit www.thehartford.com/annuities.
Other Changes
If the proposed Reorganization is approved, please note the following changes to the Contracts that may impact you:
DCA, Asset Rebalancing and/or InvestEase® Programs: If you are enrolled in a DCA, Asset Rebalancing and/or InvestEase® Program that includes the HIMCO PDF Fund on the Closing Date, Hartford Life will automatically update your DCA, Asset Rebalancing and/or InvestEase® Program to replace the HIMCO PDF Fund with the BlackRock Managed Volatility V.I. Fund. You may provide Hartford Life with alternative instructions at any time prior to the Closing Date.

3



Automatic Income Program: If you are enrolled in an Automatic Income Program that includes the HIMCO PDF Fund, it will continue to run without interruption. On the Closing Date, all Contract Value in the HIMCO PDF Fund will be automatically transferred to the BlackRock Managed Volatility V.I. Fund. Additionally, Hartford Life will automatically update your existing Automatic Income Program to replace the HIMCO PDF Fund with the BlackRock Managed Volatility V.I. Fund. You may provide Hartford Life with alternative instructions at any time prior to the Closing Date.
Personal Protection Portfolios: If you are invested in a Personal Protection Portfolio model on the Closing Date, the model will be automatically updated to replace the HIMCO PDF Fund with the BlackRock Managed Volatility V.I. Fund.

Hartford Life will make the above-referenced changes with respect to the HIMCO PDF Fund only if the reorganization is approved. Please note that the reorganization may or may not be approved.
If you own a Rider, any new instructions provided to Hartford Life must comply with your investment restrictions or your Rider will be terminated without value. Please refer to the Prospectus for additional information about Rider termination.
**********************************************************************************************************
The Appendix D - Optional Rider Investment Restrictions portion of your prospectus has been updated and is replaced as follows:
Appendix D - Optional Rider Investment Restrictions
(Effective April 23, 2018)
A. Investment Restrictions For
Daily Lock Income Benefit
Legacy Lock
Future6
Safety Plus
Applicable To The Following Products
Hartford's Personal Retirement Manager Select III
You must choose one of the following models. The models will be re-balanced monthly. For Future6, in the event that your Contract Value reduces below the minimum amount rule and you fail to transfer your remaining Contract Value to an approved Sub-Account(s) and/or Programs within ten business days, we will exercise our reserved contractual rights to reallocate these sums to the money market Sub-Account.
UPDATED PERSONAL PROTECTION PORTFOLIOS
Series 8076 (formerly Hartford Strategy)
BlackRock Managed Volatility V.I. Fund
50
%
Hartford Capital Appreciation HLS Fund
20
%
Hartford Dividend and Growth HLS Fund
20
%
Hartford International Opportunities HLS Fund
10
%
Total
100
%

Series 8077 (formerly American Strategy)
BlackRock Managed Volatility V.I. Fund
50
%
American Funds Growth Fund
20
%
American Funds Growth-Income Fund
20
%
American Funds International Fund
10
%
Total
100
%


4



Series 8078 (formerly Franklin Strategy)
BlackRock Managed Volatility V.I. Fund
50
%
Templeton Growth VIP Fund
20
%
Franklin Mutual Shares VIP Fund
20
%
Franklin Rising Dividends VIP Fund
10
%
Total
100
%

Series 8079 (formerly Four for Core Strategy)
BlackRock Managed Volatility V.I. Fund
50
%
American Funds Growth-Income Fund
20
%
Invesco V.I. Core Equity Fund
20
%
Hartford International Opportunities HLS Fund
10
%
Total
100
%

Series 8080 (formerly Four for Flexibility Strategy)
BlackRock Managed Volatility V.I. Fund
50
%
BlackRock Equity Dividend V.I. Fund
18
%
BlackRock Capital Appreciation V.I. Fund
17
%
PIMCO Global Dividend Portfolio
15
%
Total
100
%

Series 8081 (formerly Four for Growth Strategy)
BlackRock Managed Volatility V.I. Fund
50
%
Lord Abbett Fundamental Equity Portfolio
20
%
American Funds Growth Fund
20
%
Invesco V.I. International Growth Fund
10
%
Total
100
%

Series 8082 (formerly Four for Value Strategy)
BlackRock Managed Volatility V.I. Fund
50
%
American Funds Blue Chip Income and Growth Fund
20
%
Hartford Value HLS Fund
20
%
Templeton Foreign VIP Fund
10
%
Total
100
%


5



Series 8083 (formerly Diversi-Five Strategy)
BlackRock Managed Volatility V.I. Fund
50
%
Fidelity VIP Contrafund Portfolio
20
%
Invesco V.I. International Growth Fund
5
%
MFS Value Series
20
%
Templeton Foreign VIP Fund
5
%
Total
100
%

Series 8095 (formerly Five for Balance Strategy)
BlackRock Managed Volatility V.I. Fund
50
%
American Century VP Value Fund
20
%
Putnam VT Growth Opportunities Fund
20
%
Invesco V.I. International Growth Fund
5
%
Templeton Foreign VIP Fund
5
%
Total
100
%

Series 8084 (formerly Index Strategy)
BlackRock Managed Volatility V.I. Fund
50
%
HIMCO VIT Index Fund
50
%
Total
100
%

INDIVIDUAL SUB-ACCOUNT
Effective April 23, 2018, you may choose to allocate 100% of your Sub-Account allocation to the below listed fund:
BlackRock Managed Volatility V.I. Fund

B. Investment Restrictions For
Future5
Maximum Daily Value
Maximum Anniversary Value V
 
Applicable To The Following Products
Hartford's Personal Retirement Manager Select III
You may choose to invest in either the Portfolio Planner Asset Allocation Models, the Investment Strategy Models or approved individual Sub-Accounts. The models will be re-balanced quarterly. For Future5, in the event that your Contract Value reduces below the minimum amount rule and you fail to transfer your remaining Contract Value to an approved Sub-Account(s) and/or Programs within ten business days, we will exercise our reserved contractual rights to reallocate these sums to the money market Sub-Account.

6



PORTFOLIO PLANNER ASSET ALLOCATION MODELS
As of May 2, 2016, the following models are available:
Fund
2016 Series 1251
2016 Series 1262
2016 Series 2133
2016 Series 3134
2016 Series 4135
AB VPS Small/Mid-Cap Value Portfolio
3%
3%
3%
4%
5%
Franklin Mutual Global Discovery VIP Fund
2%
3%
4%
4%
5%
Hartford Disciplined Equity HLS Fund
4%
5%
6%
7%
8%
Hartford High Yield HLS Fund
14%
17%
18%
17%
14%
Hartford International Opportunities HLS Fund
2%
3%
4%
5%
6%
Hartford Total Return Bond HLS Fund
20%
14%
10%
7%
4%
American Funds New World Fund
3%
4%
6%
7%
9%
Invesco V.I. International Growth Fund
1%
2%
3%
4%
5%
Invesco V.I. Small Cap Equity Fund
2%
3%
4%
5%
5%
MFS Growth Series
4%
6%
7%
8%
8%
MFS New Discovery Series
2%
3%
3%
4%
5%
MFS Total Return Bond Series
20%
15%
11%
7%
5%
Putnam VT Equity Income Fund
5%
6%
7%
8%
9%
Templeton Foreign VIP Fund
2%
2%
3%
4%
5%
Templeton Global Bond VIP Fund
16%
14%
11%
9%
7%
Total
100%
100%
100%
100%
100%
(1) Formerly Ultra Conservative.
(2) Formerly Conservative.
(3) Formerly Balanced.
(4) Formerly Moderate Growth.
(5) Formerly Growth.
INVESTMENT STRATEGIES MODELS
Series 8028 (formerly Hartford Checks and Balances)
Hartford Capital Appreciation HLS Fund
33
%
Hartford Dividend and Growth HLS Fund
33
%
Hartford Total Return Bond HLS Fund
34
%
Total
100
%

Series 8029 (formerly Franklin Founding Investment Strategy)
Franklin Income VIP Fund
34
%
Franklin Mutual Shares Fund
33
%
Templeton Growth VIP Fund
33
%
Total
100
%


7



Series 8074 (formerly American Growth Foundation Strategy)
American Funds Bond Fund
30
%
American Funds Global Small Capitalization Fund
10
%
American Funds Growth Fund
25
%
American Funds Growth-Income Fund
20
%
American Funds International Fund
15
%
Total
100
%

Series 8075 (formerly Core Four)
American Funds International Fund
25
%
Franklin Income VIP Fund
25
%
Hartford Growth Opportunities HLS Fund
25
%
Hartford Total Return Bond HLS Fund
25
%
Total
100
%

INDIVIDUAL SUB-ACCOUNTS:
AB VPS Balanced Wealth Strategy Portfolio
American Funds Bond Fund
BlackRock Global Allocation V.I. Fund
MFS Total Return Bond Series
Invesco V.I. Balanced Risk Allocation Fund
Hartford Ultrashort HLS Fund
MFS Total Return Series
Hartford Total Return Bond HLS Fund
PIMCO All Asset Portfolio
Hartford U.S. Government Securities HLS Fund
PIMCO Global Multi-Asset Managed Allocation Portfolio
 

This Supplement Should Be Retained With Your Prospectus For Future Reference
HV-7719

8



Part B


 
SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED
 
 
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
American Century VP Value Fund
American Century VP Growth Fund
AB VPS Balanced Wealth Strategy Portfolio
AB VPS International Value Portfolio
AB VPS Small/Mid Cap Value Portfolio
AB VPS Value Portfolio
AB VPS International Growth Portfolio
Invesco V.I. Value Opportunities Fund
Invesco V.I. Core Equity Fund
Invesco V.I. Government Securities Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV










class B


4,484,957

5,092,960

1,754,447

229,539

636,948




class I










class IA










class IB










class II
1,847,243

98,736









class III










class INIT










class S1







15,681,805

29,980,365

88,743,001

class S2








1,052,551


class SRV










class SRV2










class VC










class Y










class - N/A










                   Total investments
1,847,243

98,736

4,484,957

5,092,960

1,754,447

229,539

636,948

15,681,805

31,032,916

88,743,001

  Due from Sponsor Company










  Receivable for fund shares sold
559

5

829

2,224

219

27

185

2,765

5,680

45,494

  Other assets


1

1





2


 Total assets
1,847,802

98,741

4,485,787

5,095,185

1,754,666

229,566

637,133

15,684,570

31,038,598

88,788,495

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
559

5

829

2,224

219

27

185

2,765

5,680

45,494

  Payable for fund shares purchased










  Other liabilities





2





 Total liabilities
559

5

829

2,224

219

29

185

2,765

5,680

45,494

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
1,847,243

$
98,736

$
4,484,958

$
5,092,961

$
1,754,447

$
229,537

$
636,948

$
15,681,805

$
31,032,918

$
88,743,001

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV










class B


4,484,958

5,092,961

1,754,447

229,537

636,948




class I










class IA










class IB










class II
1,847,243

98,736









class III










class INIT










class S1







15,681,805

29,980,367

88,743,001

class S2








1,052,551


class SRV










class SRV2










class VC










class Y










class - N/A










  Total contract liabilities
$
1,847,243

$
98,736

$
4,484,958

$
5,092,961

$
1,754,447

$
229,537

$
636,948

$
15,681,805

$
31,032,918

$
88,743,001

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1










class 2










class 4










class ADV










class B


395,499

319,709

86,597

14,187

28,691




class I










class IA










class IB










class II
171,200

6,504









class III










class INIT










class S1







2,181,058

837,207

7,791,308

class S2








29,817


class SRV










class SRV2










class VC










class Y










class - N/A










  Total shares
171,200

6,504

395,499

319,709

86,597

14,187

28,691

2,181,058

867,024

7,791,308

 
 
 
 
 
 
 
 
 
 
 
Cost
$
1,268,210

$
78,616

$
4,457,395

$
4,237,251

$
1,577,423

$
175,029

$
485,126

$
17,232,153

$
26,148,719

$
93,578,908

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
94,427

5,256

295,443

602,341

78,240

14,339

62,995

8,505,026

1,862,415

66,266,483

  Minimum unit fair value #*
$
18.502286

$
18.784053

$
13.007393

$
7.461103

$
19.651918

$
12.792798

$
8.759663

$
1.626277

$
1.316346

$
1.171484

  Maximum unit fair value #*
$
20.643763

$
18.784053

$
20.365619

$
16.273089

$
32.789644

$
14.351500

$
17.565833

$
24.930634

$
22.726007

$
10.007673

  Contract liability
$
1,847,243

$
98,736

$
4,484,958

$
5,045,674

$
1,754,447

$
202,100

$
636,948

$
15,412,608

$
30,601,206

$
87,695,723

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #



5,842


1,987


139,730

33,300

760,404

Minimum unit fair value #*
$

$

$

$
8.094333

$

$
13.811870

$

$
1.851704

$
1.470338

$
1.333940

Maximum unit fair value #*
$

$

$

$
8.094333

$

$
13.811870

$

$
1.960133

$
19.871492

$
1.412062

Contract liability
$

$

$

$
47,287

$

$
27,437

$

$
269,197

$
431,712

$
1,047,278

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 
.



SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Invesco V.I. High Yield Fund
Invesco V.I. International Growth Fund
Invesco V.I. Mid Cap Core Equity Fund
Invesco V.I. Small Cap Equity Fund
Invesco V.I. Balanced Risk Allocation Fund
Invesco V.I. Diversified Dividend Fund
Invesco V.I. Government Money Market Fund
American Century VP Mid Cap Value Fund
American Funds Global Bond Fund
American Funds Global Growth and Income Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2








23,952,811

43,169,180

class 4










class ADV










class B










class I










class IA










class IB










class II







155,967



class III










class INIT










class S1
507,441

25,232,783

32,277,748

19,213,634



52,503,443




class S2

9,696,523

68,017

3,478,024

1,633,074

7,374

806,133




class SRV










class SRV2










class VC










class Y










class - N/A










                   Total investments
507,441

34,929,306

32,345,765

22,691,658

1,633,074

7,374

53,309,576

155,967

23,952,811

43,169,180

  Due from Sponsor Company










  Receivable for fund shares sold
96

20,176

10,631

9,131

40


246,180

10

8,755

49,150

  Other assets

9

1

1

1


6




 Total assets
507,537

34,949,491

32,356,397

22,700,790

1,633,115

7,374

53,555,762

155,977

23,961,566

43,218,330

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
96

20,176

10,631

9,131

40


246,180

10

8,755

49,150

  Payable for fund shares purchased










  Other liabilities
3








1


 Total liabilities
99

20,176

10,631

9,131

40


246,180

10

8,756

49,150

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
507,438

$
34,929,315

$
32,345,766

$
22,691,659

$
1,633,075

$
7,374

$
53,309,582

$
155,967

$
23,952,810

$
43,169,180

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2








23,952,810

43,169,180

class 4










class ADV










class B










class I










class IA










class IB










class II







155,967



class III










class INIT










class S1
507,438

25,232,789

32,277,750

19,213,636



52,503,449




class S2

9,696,526

68,016

3,478,023

1,633,075

7,374

806,133




class SRV










class SRV2










class VC










class Y










class - N/A










  Total contract liabilities
$
507,438

$
34,929,315

$
32,345,766

$
22,691,659

$
1,633,075

$
7,374

$
53,309,582

$
155,967

$
23,952,810

$
43,169,180

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1










class 2








2,029,899

2,795,931

class 4










class ADV










class B










class I










class IA










class IB










class II







7,161



class III










class INIT










class S1
92,430

652,347

2,325,486

998,111



52,503,443




class S2

254,102

5,001

189,745

153,340

281

806,133




class SRV










class SRV2










class VC










class Y










class - N/A










  Total shares
92,430

906,449

2,330,487

1,187,856

153,340

281

53,309,576

7,161

2,029,899

2,795,931

 
 
 
 
 
 
 
 
 
 
 
Cost
$
509,703

$
26,040,204

$
29,456,487

$
20,959,458

$
1,767,767

$
4,536

$
53,309,576

$
122,628

$
23,210,770

$
32,189,942

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
123,352

10,023,044

12,287,361

969,475

122,565

394

5,678,988

7,343

1,881,294

2,456,949

  Minimum unit fair value #*
$
1.862483

$
2.349519

$
2.338166

$
16.987925

$
12.530549

$
18.723583

$
8.920996

$
20.086970

$
11.162007

$
15.836966

  Maximum unit fair value #*
$
21.721785

$
19.391885

$
21.696397

$
27.590241

$
14.187428

$
18.723583

$
9.897097

$
22.436682

$
14.012842

$
24.408063

  Contract liability
$
504,576

$
34,824,277

$
32,059,840

$
22,611,821

$
1,633,075

$
7,374

$
52,970,942

$
155,967

$
23,704,584

$
42,870,300

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #
1,357

38,052

103,950

3,169



35,743


18,996

16,923

Minimum unit fair value #*
$
2.108922

$
2.675170

$
2.662259

$
24.672421

$

$

$
9.336936

$

$
12.693667

$
17.461143

Maximum unit fair value #*
$
2.108922

$
2.831822

$
2.818161

$
25.907452

$

$

$
9.479879

$

$
13.263916

$
18.177333

Contract liability
$
2,862

$
105,038

$
285,926

$
79,838

$

$

$
338,640

$

$
248,226

$
298,880

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 
.
SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
American Funds Asset Allocation Fund
American Funds Blue Chip Income and Growth Fund
American Funds Bond Fund
American Funds Global Growth Fund
American Funds Growth Fund
American Funds Growth-Income Fund
American Funds International Fund
American Funds New World Fund
American Funds Global Small Capitalization Fund
Columbia Variable Portfolio - Small Company Growth Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$
4,766,055

class 2
149,836,434

80,939,094

116,779,161

48,910,426

395,728,984

341,612,562

83,218,266

32,002,623

32,388,162


class 4










class ADV










class B










class I










class IA










class IB










class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










                   Total investments
149,836,434

80,939,094

116,779,161

48,910,426

395,728,984

341,612,562

83,218,266

32,002,623

32,388,162

4,766,055

  Due from Sponsor Company






2,842




  Receivable for fund shares sold
212,054

16,818

58,528

4,397

226,900

643,256


3,603

6,610

876

  Other assets


1

3



2

2


1

 Total assets
150,048,488

80,955,912

116,837,690

48,914,826

395,955,884

342,255,818

83,221,110

32,006,228

32,394,772

4,766,932

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
212,054

16,818

58,528

4,397

226,900

643,256


3,603

6,610

876

  Payable for fund shares purchased






2,842




  Other liabilities
5

6



2

4



3


 Total liabilities
212,059

16,824

58,528

4,397

226,902

643,260

2,842

3,603

6,613

876

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
149,836,429

$
80,939,088

$
116,779,162

$
48,910,429

$
395,728,982

$
341,612,558

$
83,218,268

$
32,002,625

$
32,388,159

$
4,766,056

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$
4,766,056

class 2
149,836,429

80,939,088

116,779,162

48,910,429

395,728,982

341,612,558

83,218,268

32,002,625

32,388,159


class 4










class ADV










class B










class I










class IA










class IB










class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total contract liabilities
$
149,836,429

$
80,939,088

$
116,779,162

$
48,910,429

$
395,728,982

$
341,612,558

$
83,218,268

$
32,002,625

$
32,388,159

$
4,766,056

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1









268,359

class 2
6,494,861

5,773,117

10,792,898

1,684,243

5,409,089

7,182,770

3,998,956

1,330,117

1,377,048


class 4










class ADV










class B










class I










class IA










class IB










class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total shares
6,494,861

5,773,117

10,792,898

1,684,243

5,409,089

7,182,770

3,998,956

1,330,117

1,377,048

268,359

 
 
 
 
 
 
 
 
 
 
 
Cost
$
112,663,354

$
65,077,546

$
117,587,151

$
37,332,204

$
324,925,172

$
281,000,464

$
70,693,767

$
24,936,425

$
26,790,769

$
3,850,469

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
6,679,959

40,041,729

7,353,077

1,891,386

16,608,571

13,729,065

4,453,017

1,054,862

1,262,317

1,587,570

  Minimum unit fair value #*
$
19.787994

$
1.774994

$
11.996857

$
18.337176

$
16.990419

$
21.908124

$
13.111704

$
19.013753

$
18.994503

$
1.969404

  Maximum unit fair value #*
$
27.183630

$
25.821160

$
18.249350

$
32.630561

$
32.481327

$
30.941624

$
22.987691

$
37.743304

$
31.578791

$
27.902404

  Contract liability
$
147,453,091

$
79,829,918

$
115,301,243

$
48,611,153

$
392,183,570

$
337,755,164

$
82,529,260

$
31,795,750

$
32,211,050

$
4,713,555

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #
99,517

533,416

90,792

11,100

134,058

146,092

33,072

6,326

6,260

23,542

Minimum unit fair value #*
$
22.234987

$
2.022475

$
15.267495

$
22.666176

$
19.325404

$
24.539007

$
16.374772

$
29.958872

$
21.970390

$
2.230124

Maximum unit fair value #*
$
27.183630

$
2.142710

$
18.249350

$
32.630561

$
32.481327

$
30.941624

$
22.551357

$
35.441920

$
31.578791

$
2.230124

Contract liability
$
2,383,338

$
1,109,170

$
1,477,919

$
299,276

$
3,545,412

$
3,857,394

$
689,008

$
206,875

$
177,109

$
52,501

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 
SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wells Fargo VT Omega Growth Fund
Fidelity® VIP Growth Portfolio
Fidelity® VIP Contrafund® Portfolio
Fidelity® VIP Mid Cap Portfolio
Fidelity® VIP Value Strategies Portfolio
Fidelity® VIP Dynamic Capital Appreciation Portfolio
Fidelity® VIP Strategic Income Portfolio
Franklin Rising Dividends VIP Fund
Franklin Income VIP Fund
Franklin Large Cap Growth VIP Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$
789,362

$

$

$

$

$

$

$

$

$

class 2
7,737







161,105,007

307,388,865

23,247,315

class 4







1,241,598

34,796,551


class ADV










class B










class I










class IA










class IB










class II










class III










class INIT










class S1










class S2










class SRV










class SRV2

2,127,785

15,344,352

12,769,142

637,237

376,672

117,988




class VC










class Y










class - N/A










                   Total investments
797,099

2,127,785

15,344,352

12,769,142

637,237

376,672

117,988

162,346,605

342,185,416

23,247,315

  Due from Sponsor Company



23,898







  Receivable for fund shares sold
702

85

1,891


32

20

2

290,420

182,462

19,002

  Other assets





1




2

 Total assets
797,801

2,127,870

15,346,243

12,793,040

637,269

376,693

117,990

162,637,025

342,367,878

23,266,319

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
702

85

1,891


32

20

2

290,420

182,462

19,002

  Payable for fund shares purchased



23,898







  Other liabilities
1

1

2

1



1


1


 Total liabilities
703

86

1,893

23,899

32

20

3

290,420

182,463

19,002

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
797,098

$
2,127,784

$
15,344,350

$
12,769,141

$
637,237

$
376,673

$
117,987

$
162,346,605

$
342,185,415

$
23,247,317

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$
789,361

$

$

$

$

$

$

$

$

$

class 2
7,737







161,105,005

307,388,865

23,247,317

class 4







1,241,600

34,796,550


class ADV










class B










class I










class IA










class IB










class II










class III










class INIT










class S1










class S2










class SRV










class SRV2

2,127,784

15,344,350

12,769,141

637,237

376,673

117,987




class VC










class Y










class - N/A










  Total contract liabilities
$
797,098

$
2,127,784

$
15,344,350

$
12,769,141

$
637,237

$
376,673

$
117,987

$
162,346,605

$
342,185,415

$
23,247,317

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1
29,344










class 2
299







6,018,117

19,332,633

1,197,081

class 4







46,225

2,138,694


class ADV










class B










class I










class IA










class IB










class II










class III










class INIT










class S1










class S2










class SRV










class SRV2

30,349

423,643

355,093

44,069

27,696

10,067




class VC










class Y










class - N/A










  Total shares
29,643

30,349

423,643

355,093

44,069

27,696

10,067

6,064,342

21,471,327

1,197,081

 
 
 
 
 
 
 
 
 
 
 
Cost
$
743,540

$
1,688,116

$
10,776,703

$
10,011,496

$
464,152

$
327,563

$
115,919

$
128,019,045

$
322,963,930

$
20,645,177

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
428,629

102,960

773,269

665,249

31,793

16,939

7,472

5,942,732

15,801,988

1,173,218

  Minimum unit fair value #*
$
1.505583

$
18.166298

$
16.692911

$
17.002639

$
16.795557

$
18.621477

$
15.722256

$
20.219511

$
13.745644

$
17.671542

  Maximum unit fair value #*
$
30.828826

$
31.606691

$
29.025369

$
28.368525

$
33.242913

$
30.516479

$
15.917994

$
30.674440

$
25.486547

$
23.614659

  Contract liability
$
797,098

$
2,089,085

$
15,292,262

$
12,762,143

$
637,237

$
372,405

$
117,987

$
160,621,132

$
337,732,745

$
23,039,595

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #

2,031

2,857

371


219


61,223

190,765

10,111

Minimum unit fair value #*
$

$
19.057850

$
18.022977

$
18.357374

$

$
19.535367

$

$
27.190057

$
14.911899

$
20.077956

Maximum unit fair value #*
$

$
19.057850

$
18.727146

$
19.074677

$

$
19.535367

$

$
28.804011

$
23.932570

$
21.201676

Contract liability
$

$
38,699

$
52,088

$
6,998

$

$
4,268

$

$
1,725,473

$
4,452,670

$
207,722

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Franklin Global Real Estate VIP Fund
Franklin Small-Mid Cap Growth VIP Fund
Franklin Small Cap Value VIP Fund
Franklin Strategic Income VIP Fund
Franklin Mutual Shares VIP Fund
Templeton Developing Markets VIP Fund
Templeton Foreign VIP Fund
Templeton Growth VIP Fund
Franklin Mutual Global Discovery VIP Fund
Franklin Flex Cap Growth VIP Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$
83,539,447

$

$
15,966,065

$

$

$

$

class 2
807,930

45,308,140

8,780,558

420,416

170,987,989


59,430,033

100,943,612

53,731,246

9,897,127

class 4

1,854,534

3,445,158

19,021,248

22,241,132

1,977,938

4,599,207

10,442,363

5,188,668

1,228,651

class ADV










class B










class I










class IA










class IB










class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










                   Total investments
807,930

47,162,674

12,225,716

102,981,111

193,229,121

17,944,003

64,029,240

111,385,975

58,919,914

11,125,778

  Due from Sponsor Company





1,280





  Receivable for fund shares sold
34

7,267

4,266

79,374

120,998


15,825

66,227

63,086

1,059

  Other assets

5




1

1



1

 Total assets
807,964

47,169,946

12,229,982

103,060,485

193,350,119

17,945,284

64,045,066

111,452,202

58,983,000

11,126,838

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
34

7,267

4,266

79,374

120,998


15,825

66,227

63,086

1,059

  Payable for fund shares purchased





1,280





  Other liabilities
2


3


1



6



 Total liabilities
36

7,267

4,269

79,374

120,999

1,280

15,825

66,233

63,086

1,059

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
807,928

$
47,162,679

$
12,225,713

$
102,981,111

$
193,229,120

$
17,944,004

$
64,029,241

$
111,385,969

$
58,919,914

$
11,125,779

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$
83,539,447

$

$
15,966,064

$

$

$

$

class 2
807,928

45,308,144

8,780,556

420,416

170,987,987


59,430,035

100,943,607

53,731,246

9,897,128

class 4

1,854,535

3,445,157

19,021,248

22,241,133

1,977,940

4,599,206

10,442,362

5,188,668

1,228,651

class ADV










class B










class I










class IA










class IB










class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total contract liabilities
$
807,928

$
47,162,679

$
12,225,713

$
102,981,111

$
193,229,120

$
17,944,004

$
64,029,241

$
111,385,969

$
58,919,914

$
11,125,779

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1



7,499,052


1,659,674





class 2
50,686

2,671,471

469,047

39,036

8,557,957


3,943,599

6,516,695

2,739,992

1,378,430

class 4

105,491

180,186

1,721,380

1,103,231

206,250

300,405

667,244

259,693

177,039

class ADV










class B










class I










class IA










class IB










class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total shares
50,686

2,776,962

649,233

9,259,468

9,661,188

1,865,924

4,244,004

7,183,939

2,999,685

1,555,469

 
 
 
 
 
 
 
 
 
 
 
Cost
$
795,031

$
53,958,837

$
11,758,336

$
110,206,366

$
165,123,407

$
16,959,246

$
60,073,082

$
88,627,351

$
58,429,714

$
13,484,752

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
33,096

2,619,998

680,500

5,178,838

8,543,411

848,913

4,324,677

6,213,820

2,062,810

584,080

  Minimum unit fair value #*
$
19.024471

$
12.052488

$
15.711379

$
11.953815

$
13.533718

$
8.726303

$
9.938188

$
11.955970

$
14.219190

$
17.156354

  Maximum unit fair value #*
$
24.499276

$
27.953702

$
29.798341

$
26.194905

$
29.966426

$
29.817666

$
18.052586

$
22.144816

$
35.349023

$
25.561696

  Contract liability
$
788,497

$
46,823,698

$
12,208,572

$
101,737,455

$
190,872,263

$
17,890,418

$
63,402,439

$
110,074,801

$
58,498,857

$
11,103,335

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #
830

15,121

937

54,143

89,016

2,509

38,701

64,770

14,397

1,171

Minimum unit fair value #*
$
23.406680

$
13.822522

$
17.109371

$
13.722052

$
14.682253

$
9.421690

$
14.658548

$
18.088369

$
15.425759

$
17.998321

Maximum unit fair value #*
$
23.406680

$
25.075229

$
20.334454

$
24.485984

$
28.011025

$
27.871937

$
16.874363

$
20.699651

$
33.193517

$
20.198737

Contract liability
$
19,431

$
338,981

$
17,141

$
1,243,656

$
2,356,857

$
53,586

$
626,802

$
1,311,168

$
421,057

$
22,444

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 
 
SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Templeton Global Bond VIP Fund
Hartford Balanced HLS Fund
Hartford Total Return Bond HLS Fund
Hartford Capital Appreciation HLS Fund
Hartford Dividend and Growth HLS Fund
Hartford Healthcare HLS Fund
Hartford Global Growth HLS Fund
Hartford Disciplined Equity HLS Fund
Hartford Growth Opportunities HLS Fund
Hartford High Yield HLS Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2
331,961










class 4
11,873,423










class ADV










class B










class I










class IA

4,599,272

86,709,682

87,052,805

63,870,789


284,693

11,346,223

23,503,379

6,295,519

class IB

8,020,756

20,281,258

19,762,760

14,643,268

81,885

692,150

217,721

1,144,779

506,229

class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










                   Total investments
12,205,384

12,620,028

106,990,940

106,815,565

78,514,057

81,885

976,843

11,563,944

24,648,158

6,801,748

  Due from Sponsor Company
21,191




14,499



41,526


41,928

  Receivable for fund shares sold

3,549

10,848

43,615


3

44


11,933


  Other assets


2





1



 Total assets
12,226,575

12,623,577

107,001,790

106,859,180

78,528,556

81,888

976,887

11,605,471

24,660,091

6,843,676

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company

3,549

10,848

43,615


3

44


11,933


  Payable for fund shares purchased
21,191




14,499



41,526


41,928

  Other liabilities
3



2

3


3


3

1

 Total liabilities
21,194

3,549

10,848

43,617

14,502

3

47

41,526

11,936

41,929

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
12,205,381

$
12,620,028

$
106,990,942

$
106,815,563

$
78,514,054

$
81,885

$
976,840

$
11,563,945

$
24,648,155

$
6,801,747

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2
331,961










class 4
11,873,420










class ADV










class B










class I










class IA

4,599,273

86,709,684

87,052,806

63,870,786


284,693

11,346,224

23,503,375

6,295,518

class IB

8,020,755

20,281,258

19,762,757

14,643,268

81,885

692,147

217,721

1,144,780

506,229

class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total contract liabilities
$
12,205,381

$
12,620,028

$
106,990,942

$
106,815,563

$
78,514,054

$
81,885

$
976,840

$
11,563,945

$
24,648,155

$
6,801,747

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1










class 2
19,748










class 4
690,717










class ADV










class B










class I










class IA

152,395

7,707,527

1,805,701

2,769,765


10,800

777,139

644,105

773,405

class IB

262,459

1,810,827

416,233

639,165

3,777

26,489

15,088

32,624

63,200

class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total shares
710,465

414,854

9,518,354

2,221,934

3,408,930

3,777

37,289

792,227

676,729

836,605

 
 
 
 
 
 
 
 
 
 
 
Cost
$
12,644,153

$
9,711,441

$
105,747,481

$
91,042,447

$
68,847,400

$
68,900

$
802,304

$
10,855,054

$
19,578,239

$
7,015,127

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
866,794

3,851,811

16,921,535

10,505,808

7,384,763

13,753

171,371

612,670

1,237,832

407,451

  Minimum unit fair value #*
$
10.927511

$
1.474888

$
1.405911

$
2.201561

$
2.148765

$
5.953763

$
1.404724

$
2.648411

$
3.165313

$
2.378440

  Maximum unit fair value #*
$
15.163041

$
22.042902

$
14.462344

$
29.916196

$
28.657474

$
5.953763

$
29.081703

$
31.502870

$
34.682263

$
22.651433

  Contract liability
$
12,186,614

$
12,474,965

$
106,652,371

$
106,457,870

$
78,172,803

$
81,885

$
913,531

$
11,416,237

$
24,617,155

$
6,791,989

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #
1,307

76,395

184,781

110,837

115,518


14,334

9,143

1,519

1,562

Minimum unit fair value #*
$
13.910376

$
1.670101

$
1.591919

$
2.492933

$
2.433160

$

$
3.392491

$
2.720061

$
20.407348

$
2.378440

Maximum unit fair value #*
$
14.453803

$
2.039090

$
13.058152

$
17.245956

$
18.946283

$

$
16.001958

$
20.299267

$
20.407348

$
18.292131

Contract liability
$
18,767

$
145,063

$
338,571

$
357,693

$
341,251

$

$
63,309

$
147,708

$
31,000

$
9,758

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 
SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hartford International Opportunities HLS Fund
Hartford Small/Mid Cap Equity HLS Fund
Hartford MidCap HLS Fund
Hartford MidCap Value HLS Fund
Hartford Ultrashort Bond HLS Fund
Hartford Small Company HLS Fund
Hartford SmallCap Growth HLS Fund
Hartford Stock HLS Fund
Hartford U.S. Government Securities HLS Fund
Hartford Value HLS Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV










class B










class I










class IA
4,333,301

997,621



47,904,159

1,047,395

1,450,882

727,673

3,311,637

973,453

class IB
3,123,953

261,741

766,438

329,251

3,491,877

1,694,730

68,675

6,091,511

1,375,445

300,221

class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










                   Total investments
7,457,254

1,259,362

766,438

329,251

51,396,036

2,742,125

1,519,557

6,819,184

4,687,082

1,273,674

  Due from Sponsor Company
35,605




293,265


42,566


58,856


  Receivable for fund shares sold

62

102

20


194


818


52

  Other assets
4

1



9

3





 Total assets
7,492,863

1,259,425

766,540

329,271

51,689,310

2,742,322

1,562,123

6,820,002

4,745,938

1,273,726

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company

62

102

20


194


818


52

  Payable for fund shares purchased
35,605




293,265


42,566


58,856


  Other liabilities



1



1

5

1

2

 Total liabilities
35,605

62

102

21

293,265

194

42,567

823

58,857

54

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
7,457,258

$
1,259,363

$
766,438

$
329,250

$
51,396,045

$
2,742,128

$
1,519,556

$
6,819,179

$
4,687,081

$
1,273,672

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV










class B










class I










class IA
4,333,301

997,622



47,904,166

1,047,396

1,450,881

727,669

3,311,637

973,451

class IB
3,123,957

261,741

766,438

329,250

3,491,879

1,694,732

68,675

6,091,510

1,375,444

300,221

class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total contract liabilities
$
7,457,258

$
1,259,363

$
766,438

$
329,250

$
51,396,045

$
2,742,128

$
1,519,556

$
6,819,179

$
4,687,081

$
1,273,672

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1










class 2










class 4










class ADV










class B










class I










class IA
257,170

119,619



4,771,330

54,523

46,818

9,511

322,771

62,885

class IB
183,008

31,535

20,692

27,575

347,797

94,890

2,275

79,794

134,190

19,457

class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total shares
440,178

151,154

20,692

27,575

5,119,127

149,413

49,093

89,305

456,961

82,342

 
 
 
 
 
 
 
 
 
 
 
Cost
$
5,661,186

$
1,241,948

$
555,789

$
340,563

$
51,252,443

$
2,696,556

$
1,312,852

$
4,443,905

$
4,812,616

$
1,016,485

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
1,115,602

64,086

81,480

26,050

46,208,838

638,154

76,560

3,055,208

575,398

108,946

  Minimum unit fair value #*
$
1.745894

$
17.535159

$
9.063404

$
2.772375

$
0.805994

$
2.159864

$
3.160268

$
1.487466

$
1.124077

$
2.265579

  Maximum unit fair value #*
$
20.473826

$
31.261595

$
9.063404

$
32.251988

$
9.905525

$
28.151276

$
38.037991

$
28.596498

$
11.809850

$
27.025025

  Contract liability
$
7,386,036

$
1,259,363

$
738,487

$
329,250

$
50,623,445

$
2,721,019

$
1,519,556

$
6,721,502

$
4,687,081

$
1,271,908

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #
13,366


3,084


747,001

6,610


49,422


100

Minimum unit fair value #*
$
1.977041

$

$
9.063404

$

$
0.912558

$
2.445725

$

$
1.684417

$

$
17.710743

Maximum unit fair value #*
$
12.413418

$

$
9.063404

$

$
1.067979

$
17.748414

$

$
2.093231

$

$
17.710743

Contract liability
$
71,222

$

$
27,951

$

$
772,600

$
21,109

$

$
97,677

$

$
1,764

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 
SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rational Dividend Capture VA Fund
Rational Insider Buying VA Fund
Lord Abbett Fundamental Equity Fund
Lord Abbett Calibrated Dividend Growth Fund
Lord Abbett Bond Debenture Fund
Lord Abbett Growth and Income Fund
MFS® Growth Fund
MFS® Global Equity Fund
MFS® Investors Trust Fund
MFS® Mid Cap Growth Fund
 
Sub-Account (1)
Sub-Account (2)
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV










class B










class I










class IA










class IB










class II










class III










class INIT






26,206,673

5,151,390

48,380,435

14,726,018

class S1










class S2










class SRV






1,524,522


258,721


class SRV2










class VC


1,367,462

2,941,861

9,765,891

1,640,970





class Y










class - N/A
3,409,781

3,477,623









                   Total investments
3,409,781

3,477,623

1,367,462

2,941,861

9,765,891

1,640,970

27,731,195

5,151,390

48,639,156

14,726,018

  Due from Sponsor Company




27,266


38,892




  Receivable for fund shares sold
340

448

13,310

383


530


584

4,774

1,499

  Other assets



1




2



 Total assets
3,410,121

3,478,071

1,380,772

2,942,245

9,793,157

1,641,500

27,770,087

5,151,976

48,643,930

14,727,517

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
340

448

13,310

383


530


584

4,774

1,499

  Payable for fund shares purchased




27,266


38,892




  Other liabilities




1

1

4


2


 Total liabilities
340

448

13,310

383

27,267

531

38,896

584

4,776

1,499

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
3,409,781

$
3,477,623

$
1,367,462

$
2,941,862

$
9,765,890

$
1,640,969

$
27,731,191

$
5,151,392

$
48,639,154

$
14,726,018

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV










class B










class I










class IA










class IB










class II










class III










class INIT






26,206,672

5,151,392

48,380,434

14,726,018

class S1










class S2










class SRV






1,524,519


258,720


class SRV2










class VC


1,367,462

2,941,862

9,765,890

1,640,969





class Y










class - N/A
3,409,781

3,477,623









  Total contract liabilities
$
3,409,781

$
3,477,623

$
1,367,462

$
2,941,862

$
9,765,890

$
1,640,969

$
27,731,191

$
5,151,392

$
48,639,154

$
14,726,018

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1










class 2










class 4










class ADV










class B










class I










class IA










class IB










class II










class III










class INIT






570,952

244,489

1,714,403

1,628,984

class S1










class S2










class SRV






34,336


9,276


class SRV2










class VC


70,560

185,841

761,176

42,012





class Y










class - N/A
292,434

269,583









  Total shares
292,434

269,583

70,560

185,841

761,176

42,012

605,288

244,489

1,723,679

1,628,984

 
 
 
 
 
 
 
 
 
 
 
Cost
$
3,586,358

$
4,438,315

$
1,244,460

$
2,695,571

$
8,676,655

$
1,002,921

$
21,223,652

$
4,074,324

$
37,831,452

$
12,516,051

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
664,436

1,260,776

62,809

150,259

559,286

102,845

1,576,121

200,339

2,645,316

1,365,777

  Minimum unit fair value #*
$
1.920605

$
2.013920

$
18.602897

$
18.649239

$
15.825539

$
14.902567

$
11.794114

$
21.518948

$
16.006137

$
9.553129

  Maximum unit fair value #*
$
21.502103

$
27.114343

$
22.832840

$
23.945594

$
20.385457

$
22.215610

$
31.828365

$
31.957097

$
24.599837

$
32.472217

  Contract liability
$
3,405,862

$
3,474,867

$
1,367,462

$
2,941,862

$
9,749,555

$
1,640,969

$
27,479,838

$
5,082,537

$
47,984,844

$
14,673,927

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #
1,833

1,175



920


12,142

2,477

33,234

4,652

Minimum unit fair value #*
$
2.137887

$
2.345594

$

$

$
17.753333

$

$
13.344033

$
24.568067

$
17.901362

$
10.685858

Maximum unit fair value #*
$
2.137887

$
2.345594

$

$

$
17.753333

$

$
21.576804

$
30.008540

$
21.562366

$
11.456808

Contract liability
$
3,919

$
2,756

$

$

$
16,335

$

$
251,353

$
68,855

$
654,310

$
52,091

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MFS® New Discovery Fund
MFS® Total Return Fund
MFS® Value Fund
MFS® Total Return Bond Series
MFS® Research Fund
MFS® High Yield Portfolio
BlackRock Global Allocation V.I. Fund
BlackRock Global Opportunities V.I. Fund
BlackRock Large Cap Focus Growth V.I. Fund
BlackRock Equity Dividend V.I. Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account (3)
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV










class B










class I







40,729

393,030


class IA










class IB










class II










class III






229,164



700,785

class INIT
30,760,651

139,725,713

43,232,612

62,510,972

3,981,773

29,913,765





class S1










class S2










class SRV
94,946

8,050,420

18,476,703

12,042,501







class SRV2










class VC










class Y










class - N/A










                   Total investments
30,855,597

147,776,133

61,709,315

74,553,473

3,981,773

29,913,765

229,164

40,729

393,030

700,785

  Due from Sponsor Company










  Receivable for fund shares sold
2,858

74,392

19,702

31,656

418

11,004

4

3

23

13

  Other assets
1


3



4





 Total assets
30,858,456

147,850,525

61,729,020

74,585,129

3,982,191

29,924,773

229,168

40,732

393,053

700,798

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
2,858

74,392

19,702

31,656

418

11,004

4

3

23

13

  Payable for fund shares purchased










  Other liabilities



2

1


1


1


 Total liabilities
2,858

74,392

19,702

31,658

419

11,004

5

3

24

13

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
30,855,598

$
147,776,133

$
61,709,318

$
74,553,471

$
3,981,772

$
29,913,769

$
229,163

$
40,729

$
393,029

$
700,785

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV










class B










class I







40,729

393,029


class IA










class IB










class II










class III






229,163



700,785

class INIT
30,760,652

139,725,712

43,232,617

62,510,972

3,981,772

29,913,769





class S1










class S2










class SRV
94,946

8,050,421

18,476,701

12,042,499







class SRV2










class VC










class Y










class - N/A










  Total contract liabilities
$
30,855,598

$
147,776,133

$
61,709,318

$
74,553,471

$
3,981,772

$
29,913,769

$
229,163

$
40,729

$
393,029

$
700,785

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1










class 2










class 4










class ADV










class B










class I







2,071

24,641


class IA










class IB










class II










class III






15,516



57,773

class INIT
1,632,731

5,851,160

2,169,223

4,757,304

142,818

5,193,362





class S1










class S2










class SRV
5,450

342,717

943,170

932,082







class SRV2










class VC










class Y










class - N/A










  Total shares
1,638,181

6,193,877

3,112,393

5,689,386

142,818

5,193,362

15,516

2,071

24,641

57,773

 
 
 
 
 
 
 
 
 
 
 
Cost
$
25,868,843

$
128,202,640

$
48,421,113

$
73,494,538

$
3,530,757

$
31,343,077

$
227,565

$
29,855

$
286,056

$
566,943

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
1,288,779

7,078,883

2,318,614

5,296,977

176,860

2,534,352

17,075

2,009

17,953

36,651

  Minimum unit fair value #*
$
16.686326

$
14.082100

$
17.211250

$
11.405546

$
20.620942

$
11.200770

$
13.371303

$
20.202423

$
18.435269

$
18.131193

  Maximum unit fair value #*
$
35.214311

$
26.101300

$
35.366581

$
15.614413

$
26.579326

$
12.171524

$
13.505545

$
20.457202

$
29.775337

$
19.315296

  Contract liability
$
30,525,764

$
146,010,209

$
61,397,294

$
74,322,490

$
3,981,772

$
29,608,595

$
229,163

$
40,729

$
393,029

$
700,785

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #
11,878

76,305

9,815

15,966


25,751





Minimum unit fair value #*
$
19.051416

$
15.796820

$
19.306993

$
14.033711

$

$
11.738467

$

$

$

$

Maximum unit fair value #*
$
33.064687

$
24.398304

$
33.210153

$
14.664240

$

$
11.914869

$

$

$

$

Contract liability
$
329,834

$
1,765,924

$
312,024

$
230,981

$

$
305,174

$

$

$

$

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Morgan Stanley VIF Core Plus Fixed Income Portfolio
Morgan Stanley VIF Growth Portfolio
Morgan Stanley VIF Mid Cap Growth Portfolio
Invesco V.I. American Value Fund
BlackRock Capital Appreciation V.I. Fund
Columbia Variable Portfolio - Asset Allocation Fund
Columbia Variable Portfolio - Dividend Opportunity Fund
Columbia Variable Portfolio - Income Opportunities Fund
Columbia Variable Portfolio - Mid Cap Growth Fund
Oppenheimer Capital Appreciation Fund/VA
 
Sub-Account (4)
Sub-Account (5)
Sub-Account (6)
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$
1,895,201

$
7,214,938

$
5,762,606

$
7,167,761

$

class 2










class 4










class ADV










class B










class I










class IA










class IB










class II
45,023

268,297

1,433,576








class III




550,597






class INIT










class S1










class S2



1,070,650







class SRV









586,996

class SRV2










class VC










class Y










class - N/A










                   Total investments
45,023

268,297

1,433,576

1,070,650

550,597

1,895,201

7,214,938

5,762,606

7,167,761

586,996

  Due from Sponsor Company



30,422







  Receivable for fund shares sold
6

1,042

284


11

317

1,387

357

460

75

  Other assets



1



1




 Total assets
45,029

269,339

1,433,860

1,101,073

550,608

1,895,518

7,216,326

5,762,963

7,168,221

587,071

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
6

1,042

284


11

317

1,387

357

460

75

  Payable for fund shares purchased



30,422







  Other liabilities

2






1

2

1

 Total liabilities
6

1,044

284

30,422

11

317

1,387

358

462

76

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
45,023

$
268,295

$
1,433,576

$
1,070,651

$
550,597

$
1,895,201

$
7,214,939

$
5,762,605

$
7,167,759

$
586,995

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$
1,895,201

$
7,214,939

$
5,762,605

$
7,167,759

$

class 2










class 4










class ADV










class B










class I










class IA










class IB










class II
45,023

268,295

1,433,576








class III




550,597






class INIT










class S1










class S2



1,070,651







class SRV









586,995

class SRV2










class VC










class Y










class - N/A










  Total contract liabilities
$
45,023

$
268,295

$
1,433,576

$
1,070,651

$
550,597

$
1,895,201

$
7,214,939

$
5,762,605

$
7,167,759

$
586,995

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1





122,508

301,124

763,259

291,847


class 2










class 4










class ADV










class B










class I










class IA










class IB










class II
4,146

9,332

128,919








class III




52,942






class INIT










class S1










class S2



62,067







class SRV









11,321

class SRV2










class VC










class Y










class - N/A










  Total shares
4,146

9,332

128,919

62,067

52,942

122,508

301,124

763,259

291,847

11,321

 
 
 
 
 
 
 
 
 
 
 
Cost
$
41,982

$
243,432

$
1,360,538

$
947,319

$
470,925

$
1,820,839

$
4,603,400

$
6,664,350

$
4,520,542

$
564,169

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
4,013

14,241

85,175

59,295

29,121

909,909

493,654

495,260

471,127

29,462

  Minimum unit fair value #*
$
11.219494

$
18.181750

$
15.287718

$
16.131665

$
17.661633

$
1.528690

$
13.911635

$
11.045348

$
14.672594

$
15.306209

  Maximum unit fair value #*
$
11.219494

$
19.299440

$
28.494754

$
27.588682

$
20.366573

$
20.109304

$
14.929387

$
11.609131

$
15.386639

$
17.170951

  Contract liability
$
45,023

$
268,295

$
1,433,576

$
1,070,651

$
550,597

$
1,886,970

$
7,161,493

$
5,641,698

$
7,096,334

$
491,099

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #





4,755

3,580

10,415

4,642

5,803

Minimum unit fair value #*
$

$

$

$

$

$
1.731058

$
14.929387

$
11.609131

$
15.386639

$
16.525383

Maximum unit fair value #*
$

$

$

$

$

$
1.731058

$
14.929387

$
11.609131

$
15.386639

$
16.525383

Contract liability
$

$

$

$

$

$
8,231

$
53,446

$
120,907

$
71,425

$
95,896

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 



SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Oppenheimer Global Fund/VA
Oppenheimer Main Street Fund®/VA
Oppenheimer Main Street Small Cap Fund/VA
Putnam VT Diversified Income Fund
Putnam VT Global Asset Allocation Fund
Putnam VT Growth Opportunities Fund
Putnam VT International Value Fund
Putnam VT International Equity Fund
Putnam VT Small Cap Value Fund
JPMorgan Insurance Trust Core Bond Portfolio
 
Sub-Account
Sub-Account (7)
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV










class B










class I










class IA










class IB



11,785,654

725,125

1,890,410

37,500

333,973

302,788


class II










class III










class INIT










class S1










class S2










class SRV
5,234,872

925,547

4,286,654








class SRV2










class VC










class Y










class - N/A









33,442,435

                   Total investments
5,234,872

925,547

4,286,654

11,785,654

725,125

1,890,410

37,500

333,973

302,788

33,442,435

  Due from Sponsor Company










  Receivable for fund shares sold
1,800

119

1,848

5,572

112

638

5

50

808

6,907

  Other assets
1


1


1






 Total assets
5,236,673

925,666

4,288,503

11,791,226

725,238

1,891,048

37,505

334,023

303,596

33,449,342

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
1,800

119

1,848

5,572

112

638

5

50

808

6,907

  Payable for fund shares purchased










  Other liabilities

1








3

 Total liabilities
1,800

120

1,848

5,572

112

638

5

50

808

6,910

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
5,234,873

$
925,546

$
4,286,655

$
11,785,654

$
725,126

$
1,890,410

$
37,500

$
333,973

$
302,788

$
33,442,432

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV










class B










class I










class IA










class IB



11,785,654

725,126

1,890,410

37,500

333,973

302,788


class II










class III










class INIT










class S1










class S2










class SRV
5,234,873

925,546

4,286,655








class SRV2










class VC










class Y










class - N/A









33,442,432

  Total contract liabilities
$
5,234,873

$
925,546

$
4,286,655

$
11,785,654

$
725,126

$
1,890,410

$
37,500

$
333,973

$
302,788

$
33,442,432

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1










class 2










class 4










class ADV










class B










class I










class IA










class IB



1,944,827

41,247

201,967

3,319

22,612

19,237


class II










class III










class INIT










class S1










class S2










class SRV
119,736

29,580

171,535








class SRV2










class VC










class Y










class - N/A









3,068,113

  Total shares
119,736

29,580

171,535

1,944,827

41,247

201,967

3,319

22,612

19,237

3,068,113

 
 
 
 
 
 
 
 
 
 
 
Cost
$
3,482,366

$
792,465

$
3,168,965

$
12,805,066

$
645,401

$
1,552,356

$
30,796

$
250,804

$
295,787

$
33,811,866

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
296,111

46,914

189,976

841,940

43,597

146,814

3,433

30,414

14,673

2,325,532

  Minimum unit fair value #*
$
15.913293

$
17.716424

$
20.325403

$
12.657307

$
15.536148

$
12.746809

$
9.328438

$
9.930025

$
18.070046

$
12.071477

  Maximum unit fair value #*
$
26.492924

$
27.677869

$
33.196484

$
18.999264

$
23.292779

$
12.909125

$
16.606870

$
17.198445

$
30.003728

$
21.289826

  Contract liability
$
5,234,873

$
910,901

$
4,286,655

$
11,785,654

$
725,126

$
1,890,410

$
33,842

$
333,973

$
302,788

$
32,971,686

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #

738





367



32,509

Minimum unit fair value #*
$

$
19.127484

$

$

$

$

$
9.976235

$

$

$
14.480462

Maximum unit fair value #*
$

$
19.874530

$

$

$

$

$
9.976235

$

$

$
14.480462

Contract liability
$

$
14,645

$

$

$

$

$
3,658

$

$

$
470,746

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
JPMorgan Insurance Trust U.S. Equity Portfolio
JPMorgan Insurance Trust Mid Cap Value Portfolio
Putnam VT Equity Income Fund
PIMCO All Asset Fund
PIMCO StocksPLUS Global Portfolio
PIMCO Global Multi-Asset Managed Allocation Portfolio
Jennison 20/20 Focus Fund
Jennison Fund
Prudential Value Portfolio
Prudential SP International Growth Portfolio
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV



143,117

409,431

8,417





class B










class I










class IA










class IB


143,106








class II






31,730

160,407

18,958

9,920

class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A
4,778,651

3,483,094









                   Total investments
4,778,651

3,483,094

143,106

143,117

409,431

8,417

31,730

160,407

18,958

9,920

  Due from Sponsor Company










  Receivable for fund shares sold
692

684

7

8

23

1

5

24

3

1

  Other assets







1



 Total assets
4,779,343

3,483,778

143,113

143,125

409,454

8,418

31,735

160,432

18,961

9,921

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
692

684

7

8

23

1

5

24

3

1

  Payable for fund shares purchased










  Other liabilities






3




 Total liabilities
692

684

7

8

23

1

8

24

3

1

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
4,778,651

$
3,483,094

$
143,106

$
143,117

$
409,431

$
8,417

$
31,727

$
160,408

$
18,958

$
9,920

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$

$

class 2










class 4










class ADV



143,117

409,431

8,417





class B










class I










class IA










class IB


143,106








class II






31,727

160,408

18,958

9,920

class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A
4,778,651

3,483,094









  Total contract liabilities
$
4,778,651

$
3,483,094

$
143,106

$
143,117

$
409,431

$
8,417

$
31,727

$
160,408

$
18,958

$
9,920

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1










class 2










class 4










class ADV



13,166

45,141

668





class B










class I










class IA










class IB


5,704








class II






1,116

2,887

644

1,330

class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A
157,815

308,511









  Total shares
157,815

308,511

5,704

13,166

45,141

668

1,116

2,887

644

1,330

 
 
 
 
 
 
 
 
 
 
 
Cost
$
3,012,168

$
3,580,303

$
106,205

$
143,818

$
457,298

$
8,197

$
12,888

$
66,744

$
12,307

$
7,180

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
176,090

124,145

5,061

11,338

29,657

786

11,125

58,529

9,870

7,148

  Minimum unit fair value #*
$
23.904240

$
24.760925

$
22.117664

$
12.000776

$
13.092672

$
10.710219

$
2.442177

$
1.867547

$
1.773996

$
1.387721

  Maximum unit fair value #*
$
41.103731

$
43.771667

$
28.888944

$
12.785174

$
14.162056

$
10.710219

$
25.734610

$
15.234809

$
1.981401

$
1.387721

  Contract liability
$
4,732,009

$
3,442,558

$
143,106

$
143,117

$
409,431

$
8,417

$
31,727

$
137,324

$
18,958

$
9,920

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #
1,752

1,470






1,515



Minimum unit fair value #*
$
26.630292

$
27.584502

$

$

$

$

$

$
15.234809

$

$

Maximum unit fair value #*
$
26.630292

$
27.584502

$

$

$

$

$

$
15.234809

$

$

Contract liability
$
46,642

$
40,536

$

$

$

$

$

$
23,084

$

$

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ClearBridge Variable Dividend Strategy Portfolio
Western Asset Variable Global High Yield Bond Portfolio
ClearBridge Variable Large Cap Value Portfolio
Invesco V.I. Growth and Income Fund
Invesco V.I. Comstock Fund
Invesco V.I. American Franchise Fund
Invesco V.I. Mid Cap Growth Fund
Wells Fargo VT Index Asset Allocation Fund
Wells Fargo VT International Equity Fund
Wells Fargo VT Small Cap Growth Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$
906,381

$
831,501

class 2







27,291

9,626

68,979

class 4










class ADV










class B










class I
23,767

35,578

677,399








class IA










class IB










class II










class III










class INIT










class S1





17,077,847

2,339,583




class S2



1,291,628

222,025

437,416

467,377




class SRV










class SRV2










class VC










class Y










class - N/A










                   Total investments
23,767

35,578

677,399

1,291,628

222,025

17,515,263

2,806,960

27,291

916,007

900,480

  Due from Sponsor Company
2

21









  Receivable for fund shares sold


61

1,162

40

21,908

2,428

4

208

127

  Other assets



2


1

1

1



 Total assets
23,769

35,599

677,460

1,292,792

222,065

17,537,172

2,809,389

27,296

916,215

900,607

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company


61

1,162

40

21,908

2,428

4

208

127

  Payable for fund shares purchased
2

21









  Other liabilities










 Total liabilities
2

21

61

1,162

40

21,908

2,428

4

208

127

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
23,767

$
35,578

$
677,399

$
1,291,630

$
222,025

$
17,515,264

$
2,806,961

$
27,292

$
916,007

$
900,480

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$
906,381

$
831,501

class 2







27,292

9,626

68,979

class 4










class ADV










class B










class I
23,767

35,578

677,399








class IA










class IB










class II










class III










class INIT










class S1





17,077,848

2,339,583




class S2



1,291,630

222,025

437,416

467,378




class SRV










class SRV2










class VC










class Y










class - N/A










  Total contract liabilities
$
23,767

$
35,578

$
677,399

$
1,291,630

$
222,025

$
17,515,264

$
2,806,961

$
27,292

$
916,007

$
900,480

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1








178,071

82,818

class 2







1,383

1,876

7,032

class 4










class ADV










class B










class I
1,244

4,651

31,773








class IA










class IB










class II










class III










class INIT










class S1





279,827

434,060




class S2



59,659

11,618

7,419

88,018




class SRV










class SRV2










class VC










class Y










class - N/A










  Total shares
1,244

4,651

31,773

59,659

11,618

287,246

522,078

1,383

179,947

89,850

 
 
 
 
 
 
 
 
 
 
 
Cost
$
18,793

$
39,133

$
605,805

$
1,120,958

$
187,403

$
13,173,294

$
2,752,734

$
19,270

$
876,123

$
750,916

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
1,388

13,829

260,811

65,151

8,479

915,593

175,345

5,113

529,196

42,688

  Minimum unit fair value #*
$
17.123955

$
2.572767

$
2.409970

$
17.284600

$
25.174848

$
17.047163

$
15.071319

$
2.284627

$
1.209194

$
2.797147

  Maximum unit fair value #*
$
17.123955

$
2.572767

$
2.475133

$
29.489798

$
28.301356

$
20.198363

$
16.436501

$
22.770477

$
17.207874

$
23.005967

  Contract liability
$
23,767

$
35,578

$
644,556

$
1,291,630

$
222,025

$
17,221,978

$
2,797,124

$
27,292

$
897,126

$
900,480

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #


13,269



15,137

610


12,559


Minimum unit fair value #*
$

$

$
2.475133

$

$

$
19.106169

$
16.118399

$

$
1.308715

$

Maximum unit fair value #*
$

$

$
2.475133

$

$

$
19.548587

$
16.118399

$

$
2.234769

$

Contract liability
$

$

$
32,843

$

$

$
293,286

$
9,837

$

$
18,881

$

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 


SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wells Fargo VT Discovery Fund
Wells Fargo VT Opportunity Fund
HIMCO VIT Index Fund
HIMCO VIT Portfolio Diversifier Fund
HIMCO VIT American Funds Asset Allocation Fund
HIMCO VIT American Funds Blue Chip Income and Growth Fund
HIMCO VIT American Funds Bond Fund
HIMCO VIT American Funds Global Bond Fund
HIMCO VIT American Funds Global Growth and Income Fund
HIMCO VIT American Funds Global Growth Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$
6,532,428

$

$

$

$

$

$

$

$

class 2
8,739

120,134









class 4










class ADV










class B










class I










class IA










class IB


4,551,177

33,202,972

9,452,840

5,554,289

21,572,982

2,125,403

8,120,054

3,200,894

class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










                   Total investments
8,739

6,652,562

4,551,177

33,202,972

9,452,840

5,554,289

21,572,982

2,125,403

8,120,054

3,200,894

  Due from Sponsor Company







37,462


30,207

  Receivable for fund shares sold
1

2,274

123

35,671

453

305

14,554


628


  Other assets


1



2




1

 Total assets
8,740

6,654,836

4,551,301

33,238,643

9,453,293

5,554,596

21,587,536

2,162,865

8,120,682

3,231,102

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
1

2,274

123

35,671

453

305

14,554


628


  Payable for fund shares purchased







37,462


30,207

  Other liabilities



1





2


 Total liabilities
1

2,274

123

35,672

453

305

14,554

37,462

630

30,207

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
8,739

$
6,652,562

$
4,551,178

$
33,202,971

$
9,452,840

$
5,554,291

$
21,572,982

$
2,125,403

$
8,120,052

$
3,200,895

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$
6,532,427

$

$

$

$

$

$

$

$

class 2
8,739

120,135









class 4










class ADV










class B










class I










class IA










class IB


4,551,178

33,202,971

9,452,840

5,554,291

21,572,982

2,125,403

8,120,052

3,200,895

class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total contract liabilities
$
8,739

$
6,652,562

$
4,551,178

$
33,202,971

$
9,452,840

$
5,554,291

$
21,572,982

$
2,125,403

$
8,120,052

$
3,200,895

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1

257,893









class 2
292

4,724









class 4










class ADV










class B










class I










class IA










class IB


105,400

4,702,971

1,148,583

656,535

2,304,806

234,592

1,228,450

454,672

class II










class III










class INIT










class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total shares
292

262,617

105,400

4,702,971

1,148,583

656,535

2,304,806

234,592

1,228,450

454,672

 
 
 
 
 
 
 
 
 
 
 
Cost
$
6,505

$
5,193,024

$
4,086,289

$
37,241,349

$
9,735,231

$
6,431,082

$
22,040,548

$
2,136,848

$
7,994,051

$
3,157,939

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
278

335,154

178,406

4,756,879

550,364

297,556

1,915,914

191,608

528,634

182,605

  Minimum unit fair value #*
$
31.400567

$
18.541957

$
9.286842

$
6.628771

$
15.135149

$
16.283522

$
10.247737

$
10.397132

$
13.611293

$
15.673269

  Maximum unit fair value #*
$
31.400567

$
21.200693

$
30.369766

$
7.205355

$
23.719496

$
28.454690

$
13.039951

$
12.100776

$
24.590458

$
26.775395

  Contract liability
$
8,739

$
6,652,562

$
4,551,178

$
33,202,971

$
9,430,694

$
5,480,922

$
21,537,405

$
2,114,844

$
8,076,575

$
3,199,238

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #




1,357

4,179

3,174

933

2,944

98

Minimum unit fair value #*
$

$

$

$

$
16.319164

$
17.557375

$
11.049317

$
11.316437

$
14.676141

$
16.899448

Maximum unit fair value #*
$

$

$

$

$
16.319164

$
17.557375

$
11.473315

$
11.316437

$
15.239450

$
16.899448

Contract liability
$

$

$

$

$
22,146

$
73,369

$
35,577

$
10,559

$
43,477

$
1,657

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Assets and Liabilities - UNAUDITED (continued)
 
 
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
HIMCO VIT American Funds Global Small Capitalization Fund
HIMCO VIT American Funds Growth Fund
HIMCO VIT American Funds Growth-Income Fund
HIMCO VIT American Funds International Fund
HIMCO VIT American Funds New World Fund
MFS® Core Equity Portfolio
MFS® Massachusetts Investors Growth Stock Portfolio
MFS® Research International Portfolio
Columbia Variable Portfolio - Large Cap Growth Fund
Columbia Variable Portfolio - Select International Equity Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
  Investments, at market value
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$
7,558,521

$

class 2









5,495,427

class 4










class ADV










class B










class I










class IA










class IB
7,011,555

45,729,141

25,936,740

28,288,555

4,401,124






class II










class III










class INIT





4,840,149

6,692,162

9,753,765



class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A








 
 
                   Total investments
7,011,555

45,729,141

25,936,740

28,288,555

4,401,124

4,840,149

6,692,162

9,753,765

7,558,521

5,495,427

  Due from Sponsor Company




17,074






  Receivable for fund shares sold
3,742

34,492

7,234

13,304


407

457

1,988

1,141

1,031

  Other assets
1


1

1

1


1

1

1


 Total assets
7,015,298

45,763,633

25,943,975

28,301,860

4,418,199

4,840,556

6,692,620

9,755,754

7,559,663

5,496,458

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
  Due to Sponsor Company
3,742

34,492

7,234

13,304


407

457

1,988

1,141

1,031

  Payable for fund shares purchased




17,074






  Other liabilities

2








1

 Total liabilities
3,742

34,494

7,234

13,304

17,074

407

457

1,988

1,141

1,032

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  For contract liabilities
$
7,011,556

$
45,729,139

$
25,936,741

$
28,288,556

$
4,401,125

$
4,840,149

$
6,692,163

$
9,753,766

$
7,558,522

$
5,495,426

 
 
 
 
 
 
 
 
 
 
 
Contract Liabilities:
 
 
 
 
 
 
 
 
 
 
class 1
$

$

$

$

$

$

$

$

$
7,558,522

$

class 2









5,495,426

class 4










class ADV










class B










class I










class IA










class IB
7,011,556

45,729,139

25,936,741

28,288,556

4,401,125






class II










class III










class INIT





4,840,149

6,692,163

9,753,766



class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total contract liabilities
$
7,011,556

$
45,729,139

$
25,936,741

$
28,288,556

$
4,401,125

$
4,840,149

$
6,692,163

$
9,753,766

$
7,558,522

$
5,495,426

 
 
 
 
 
 
 
 
 
 
 
Shares:
 
 
 
 
 
 
 
 
 
 
class 1








470,643


class 2









367,096

class 4










class ADV










class B










class I










class IA










class IB
1,204,735

7,035,252

3,699,963

3,766,785

675,019






class II










class III










class INIT





203,967

386,607

603,201



class S1










class S2










class SRV










class SRV2










class VC










class Y










class - N/A










  Total shares
1,204,735

7,035,252

3,699,963

3,766,785

675,019

203,967

386,607

603,201

470,643

367,096

 
 
 
 
 
 
 
 
 
 
 
Cost
$
8,096,135

$
53,471,942

$
30,999,722

$
28,182,514

$
3,877,952

$
4,735,391

$
6,699,524

$
9,206,148

$
5,840,876

$
4,739,578

 
 
 
 
 
 
 
 
 
 
 
Deferred contracts in the accumulation period:
 
 
 
 
 
 
 
 
 
 
  Units owned by participants #
514,267

2,367,094

1,384,916

2,315,586

358,210

368,650

534,307

867,896

585,683

461,492

  Minimum unit fair value #*
$
11.922133

$
16.900183

$
16.425967

$
10.828802

$
10.692684

$
12.572463

$
12.120258

$
10.859012

$
12.601082

$
11.631101

  Maximum unit fair value #*
$
25.531284

$
30.938371

$
28.354955

$
19.698943

$
19.239415

$
13.032531

$
12.580529

$
11.437771

$
12.815162

$
11.828829

  Contract liability
$
6,999,751

$
45,653,500

$
25,744,311

$
28,246,922

$
4,387,424

$
4,738,989

$
6,629,460

$
9,682,790

$
7,456,697

$
5,418,624

 
 
 
 
 
 
 
 
 
 
 
Contracts in payout (annuitization) period:
 
 
 
 
 
 
 
 
 
 
Units owned by participants #
918

4,131

10,865

3,498

1,188

7,788

4,998

6,328

7,946

6,493

Minimum unit fair value #*
$
12.855019

$
18.308361

$
17.710977

$
11.676131

$
11.529282

$
12.911682

$
12.463869

$
11.181805

$
12.815162

$
11.828829

Maximum unit fair value #*
$
12.855019

$
18.308361

$
17.710977

$
12.124324

$
11.529282

$
13.032531

$
12.580529

$
11.286499

$
12.815162

$
11.828829

Contract liability
$
11,805

$
75,639

$
192,430

$
41,634

$
13,701

$
101,160

$
62,703

$
70,976

$
101,825

$
76,802

 
 
 
 
 
 
 
 
 
 
 
# Rounded units/unit fair values
 
 
 
 
 
 
 
 
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
Statements of Assets and Liabilities - UNAUDITED (concluded)
September 30, 2017
 
 
 
 
 
 
Variable Portfolio - Loomis Sayles Growth Fund
 
 
Sub-Account
 
 
 
 
Assets:
 
 
  Investments, at market value
 
 
class 1
$
5,454,674

 
class 2

 
class 4

 
class ADV

 
class B

 
class I

 
class IA

 
class IB

 
class II

 
class III

 
class INIT

 
class S1

 
class S2

 
class SRV

 
class SRV2

 
class VC

 
class Y

 
class - N/A

 
                   Total investments
5,454,674

 
  Due from Sponsor Company

 
  Receivable for fund shares sold
992

 
  Other assets

 
 Total assets
5,455,666

 
 
 
 
Liabilities:
 
 
  Due to Sponsor Company
992

 
  Payable for fund shares purchased

 
  Other liabilities

 
 Total liabilities
992

 
 
 
 
Net assets:
 
 
  For contract liabilities
$
5,454,674

 
 
 
 
Contract Liabilities:
 
 
class 1
$
5,454,674

 
class 2

 
class 4

 
class ADV

 
class B

 
class I

 
class IA

 
class IB

 
class II

 
class III

 
class INIT

 
class S1

 
class S2

 
class SRV

 
class SRV2

 
class VC

 
class Y

 
class - N/A

 
  Total contract liabilities
$
5,454,674


 
 
 
Shares:
 
 
class 1
198,496

 
class 2

 
class 4

 
class ADV

 
class B

 
class I

 
class IA

 
class IB

 
class II

 
class III

 
class INIT

 
class S1

 
class S2

 
class SRV

 
class SRV2

 
class VC

 
class Y

 
class - N/A

 
  Total shares
198,496


 
 
 
Cost
$
4,144,072


 
 
 
Deferred contracts in the accumulation period:
 
 
  Units owned by participants #
412,271


  Minimum unit fair value #*
$
12.940490


  Maximum unit fair value #*
$
13.150242


  Contract liability
$
5,385,456


 
 
 
Contracts in payout (annuitization) period:
 
 
Units owned by participants #
5,264


Minimum unit fair value #*
$
13.150242


Maximum unit fair value #*
$
13.150242


Contract liability
$
69,218


 
 
 
# Rounded units/unit fair values
 
 
* For Sub-Accounts with only one unit fair value, the unit fair value is illustrated in both the minimum and maximum unit fair value rows.
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
(1) Formerly Catalyst Dividend Capture VA Fund. Change effective May 1, 2017.
(2) Formerly Catalyst Insider Buying VA Fund. Change effective May 1, 2017.
(3) Formerly BlackRock Large Cap Growth V.I. Fund. Change effective June 12, 2017.
(4) Formerly UIF Core Plus Fixed Income Portfolio. Change effective May 1, 2017.
(5) Formerly UIF Growth Portfolio. Change effective May 1, 2017.
(6) Formerly UIF Mid Cap Growth Portfolio. Change effective May 1, 2017.
(7) Merged with Oppenheimer Equity Income Fund/VA. Change effective April 28, 2017.











SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
American Century VP Value Fund
American Century VP Growth Fund
AB VPS Balanced Wealth Strategy Portfolio
AB VPS International Value Portfolio
AB VPS Small/Mid Cap Value Portfolio
AB VPS Value Portfolio
AB VPS International Growth Portfolio
Invesco V.I. Value Opportunities Fund
Invesco V.I. Core Equity Fund
Invesco V.I. Government Securities Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
23,186

$
582

$
81,835

$
12,903

$
4,349

$
2,565

$
5,444

$
60,809

$
314,899

$
1,864,445

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges







(16,531
)
(38,330
)
(98,038
)
  Mortality and expense risk charges
(9,762
)
(441
)
(46,360
)
(59,114
)
(22,094
)
(2,517
)
(8,212
)
(203,622
)
(395,651
)
(1,140,708
)
    Total expenses
(9,762
)
(441
)
(46,360
)
(59,114
)
(22,094
)
(2,517
)
(8,212
)
(220,153
)
(433,981
)
(1,238,746
)
    Net investment income (loss)
13,424

141

35,475

(46,211
)
(17,745
)
48

(2,768
)
(159,344
)
(119,082
)
625,699

 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
95,821

2,014

(4,850
)
81,598

45,226

5,329

21,931

(533,082
)
870,554

(619,181
)
  Net realized gain distributions

3,883

37,244


88,531




1,590,052


  Change in unrealized appreciation (depreciation) during the period
(41,460
)
10,348

386,742

881,422

(28,546
)
6,869

135,307

2,176,304

350,356

399,547

    Net gain (loss) on investments
54,361

16,245

419,136

963,020

105,211

12,198

157,238

1,643,222

2,810,962

(219,634
)
    Net increase (decrease) in net assets resulting from operations
$
67,785

$
16,386

$
454,611

$
916,809

$
87,466

$
12,246

$
154,470

$
1,483,878

$
2,691,880

$
406,065

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 
SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Invesco V.I. High Yield Fund
Invesco V.I. International Growth Fund
Invesco V.I. Mid Cap Core Equity Fund
Invesco V.I. Small Cap Equity Fund
Invesco V.I. Balanced Risk Allocation Fund
Invesco V.I. Diversified Dividend Fund
Invesco V.I. Government Money Market Fund
American Century VP Mid Cap Value Fund
American Funds Global Bond Fund
American Funds Global Growth and Income Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
20,340

$
472,466

$
169,060

$

$
63,124

$
110

$
205,058

$
1,904

$

$
120,505

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges
(287
)
(27,002
)
(33,130
)
(33
)






  Mortality and expense risk charges
(8,525
)
(395,875
)
(427,418
)
(302,527
)
(20,064
)
(92
)
(702,920
)
(737
)
(324,654
)
(547,094
)
    Total expenses
(8,812
)
(422,877
)
(460,548
)
(302,560
)
(20,064
)
(92
)
(702,920
)
(737
)
(324,654
)
(547,094
)
    Net investment income (loss)
11,528

49,589

(291,488
)
(302,560
)
43,060

18

(497,862
)
1,167

(324,654
)
(426,589
)
 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
(500
)
1,559,411

355,219

299,345

(9,311
)
258


1,829

55,379

1,502,211

  Net realized gain distributions


655,204

1,009,976

90,549

253


2,834

148,029

740,246

  Change in unrealized appreciation (depreciation) during the period
10,102

4,128,994

2,142,021

782,574

(60,950
)
(254
)

2,786

1,345,097

5,719,116

    Net gain (loss) on investments
9,602

5,688,405

3,152,444

2,091,895

20,288

257


7,449

1,548,505

7,961,573

    Net increase (decrease) in net assets resulting from operations
$
21,130

$
5,737,994

$
2,860,956

$
1,789,335

$
63,348

$
275

$
(497,862
)
$
8,616

$
1,223,851

$
7,534,984

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 


SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
American Funds Asset Allocation Fund
American Funds Blue Chip Income and Growth Fund
American Funds Bond Fund
American Funds Global Growth Fund
American Funds Growth Fund
American Funds Growth-Income Fund
American Funds International Fund
American Funds New World Fund
American Funds Global Small Capitalization Fund
Columbia Variable Portfolio - Small Company Growth Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
414,689

$
267,847

$
629,094

$
39,075

$
479,661

$
818,365

$
249,974

$
39,081

$
125,271

$

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges
(177,998
)
(85,816
)
(142,932
)
(54,507
)
(456,549
)
(401,685
)
(95,288
)
(34,587
)
(36,912
)

  Mortality and expense risk charges
(1,869,373
)
(1,061,088
)
(1,371,477
)
(565,234
)
(4,846,313
)
(4,189,995
)
(970,885
)
(380,627
)
(398,051
)
(73,237
)
    Total expenses
(2,047,371
)
(1,146,904
)
(1,514,409
)
(619,741
)
(5,302,862
)
(4,591,680
)
(1,066,173
)
(415,214
)
(434,963
)
(73,237
)
    Net investment income (loss)
(1,632,682
)
(879,057
)
(885,315
)
(580,666
)
(4,823,201
)
(3,773,315
)
(816,199
)
(376,133
)
(309,692
)
(73,237
)
 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
5,163,059

2,707,536

(184,266
)
1,607,331

11,315,065

8,257,996

1,427,404

801,127

535,754

87,175

  Net realized gain distributions
6,848,852

3,068,592

1,735,432

1,422,007

37,815,821

21,968,865

949,902



251,474

  Change in unrealized appreciation (depreciation) during the period
5,619,171

1,185,797

1,895,545

7,496,159

24,624,044

19,024,832

15,962,600

5,460,830

5,108,594

581,424

    Net gain (loss) on investments
17,631,082

6,961,925

3,446,711

10,525,497

73,754,930

49,251,693

18,339,906

6,261,957

5,644,348

920,073

    Net increase (decrease) in net assets resulting from operations
$
15,998,400

$
6,082,868

$
2,561,396

$
9,944,831

$
68,931,729

$
45,478,378

$
17,523,707

$
5,885,824

$
5,334,656

$
846,836

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wells Fargo VT Omega Growth Fund
Fidelity® VIP Growth Portfolio
Fidelity® VIP Contrafund® Portfolio
Fidelity® VIP Mid Cap Portfolio
Fidelity® VIP Value Strategies Portfolio
Fidelity® VIP Dynamic Capital Appreciation Portfolio
Fidelity® VIP Strategic Income Portfolio
Franklin Rising Dividends VIP Fund
Franklin Income VIP Fund
Franklin Large Cap Growth VIP Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
1,690

$
1,615

$
27,545

$
16,135

$
1,306

$
956

$

$
2,498,163

$
14,354,467

$
144,581

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges
(914
)






(170,326
)
(356,118
)
(25,556
)
  Mortality and expense risk charges
(8,501
)
(21,988
)
(177,821
)
(153,280
)
(8,385
)
(5,361
)
(512
)
(1,968,178
)
(4,231,683
)
(297,446
)
    Total expenses
(9,415
)
(21,988
)
(177,821
)
(153,280
)
(8,385
)
(5,361
)
(512
)
(2,138,504
)
(4,587,801
)
(323,002
)
    Net investment income (loss)
(7,725
)
(20,373
)
(150,276
)
(137,145
)
(7,079
)
(4,405
)
(512
)
359,659

9,766,666

(178,421
)
 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
5,711

35,763

764,257

493,435

8,674

2,626

(18
)
4,797,875

2,564,495

517,680

  Net realized gain distributions
21,776

113,743

595,259

529,005

117,208

16,474


5,951,251


1,847,725

  Change in unrealized appreciation (depreciation) during the period
130,984

331,632

952,405

614,586

(50,655
)
36,738

7,480

7,235,966

9,657,037

1,954,567

    Net gain (loss) on investments
158,471

481,138

2,311,921

1,637,026

75,227

55,838

7,462

17,985,092

12,221,532

4,319,972

    Net increase (decrease) in net assets resulting from operations
$
150,746

$
460,765

$
2,161,645

$
1,499,881

$
68,148

$
51,433

$
6,950

$
18,344,751

$
21,988,198

$
4,141,551

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Franklin Global Real Estate VIP Fund
Franklin Small-Mid Cap Growth VIP Fund
Franklin Small Cap Value VIP Fund
Franklin Strategic Income VIP Fund
Franklin Mutual Shares VIP Fund
Templeton Developing Markets VIP Fund
Templeton Foreign VIP Fund
Templeton Growth VIP Fund
Franklin Mutual Global Discovery VIP Fund
Franklin Flex Cap Growth VIP Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
25,751

$

$
61,781

$
3,126,068

$
4,346,824

$
196,365

$
1,627,893

$
1,782,347

$
1,041,672

$

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges
(937
)
(51,464
)

(100,340
)
(214,199
)
(16,855
)
(71,652
)
(120,410
)
(56,933
)
(11,823
)
  Mortality and expense risk charges
(8,589
)
(600,904
)
(172,293
)
(1,295,187
)
(2,379,638
)
(216,714
)
(777,759
)
(1,341,711
)
(766,406
)
(139,967
)
    Total expenses
(9,526
)
(652,368
)
(172,293
)
(1,395,527
)
(2,593,837
)
(233,569
)
(849,411
)
(1,462,121
)
(823,339
)
(151,790
)
    Net investment income (loss)
16,225

(652,368
)
(110,512
)
1,730,541

1,752,987

(37,204
)
778,482

320,226

218,333

(151,790
)
 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
(110
)
(1,050,099
)
194,010

(1,037,885
)
5,609,836

(119,817
)
332,707

2,844,613

474,246

(521,578
)
  Net realized gain distributions

4,647,823

880,982


7,931,195




3,339,428

25,348

  Change in unrealized appreciation (depreciation) during the period
27,309

3,182,323

(603,288
)
2,406,424

(5,371,558
)
4,387,653

6,368,665

10,902,918

(394,634
)
2,666,095

    Net gain (loss) on investments
27,199

6,780,047

471,704

1,368,539

8,169,473

4,267,836

6,701,372

13,747,531

3,419,040

2,169,865

    Net increase (decrease) in net assets resulting from operations
$
43,424

$
6,127,679

$
361,192

$
3,099,080

$
9,922,460

$
4,230,632

$
7,479,854

$
14,067,757

$
3,637,373

$
2,018,075

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Templeton Global Bond VIP Fund
Hartford Balanced HLS Fund
Hartford Total Return Bond HLS Fund
Hartford Capital Appreciation HLS Fund
Hartford Dividend and Growth HLS Fund
Hartford Healthcare HLS Fund
Hartford Global Growth HLS Fund
Hartford Disciplined Equity HLS Fund
Hartford Growth Opportunities HLS Fund
Hartford High Yield HLS Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$

$
60,129

$
3,148,188

$
163,135

$
993

$

$
3,283

$
118

$

$
410,050

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges

(8,228
)
(21,899
)
(18,229
)
(13,033
)
(89
)
(424
)
(235
)
(60
)
(86
)
  Mortality and expense risk charges
(146,088
)
(173,022
)
(1,284,275
)
(1,268,064
)
(926,141
)
(743
)
(11,356
)
(130,557
)
(284,232
)
(78,996
)
    Total expenses
(146,088
)
(181,250
)
(1,306,174
)
(1,286,293
)
(939,174
)
(832
)
(11,780
)
(130,792
)
(284,292
)
(79,082
)
    Net investment income (loss)
(146,088
)
(121,121
)
1,842,014

(1,123,158
)
(938,181
)
(832
)
(8,497
)
(130,674
)
(284,292
)
330,968

 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
(113,224
)
438,455

320,984

2,311,023

2,123,739

6,978

32,557

182,149

740,991

(11,013
)
  Net realized gain distributions
38,962



1,370,222

4,969,072

12,015

44,703

1,123,104

307,906


  Change in unrealized appreciation (depreciation) during the period
545,993

765,562

1,394,977

12,684,083

1,664,975

(1,187
)
132,543

122,666

4,242,214

67,949

    Net gain (loss) on investments
471,731

1,204,017

1,715,961

16,365,328

8,757,786

17,806

209,803

1,427,919

5,291,111

56,936

    Net increase (decrease) in net assets resulting from operations
$
325,643

$
1,082,896

$
3,557,975

$
15,242,170

$
7,819,605

$
16,974

$
201,306

$
1,297,245

$
5,006,819

$
387,904

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hartford International Opportunities HLS Fund
Hartford Small/Mid Cap Equity HLS Fund
Hartford MidCap HLS Fund
Hartford MidCap Value HLS Fund
Hartford Ultrashort Bond HLS Fund
Hartford Small Company HLS Fund
Hartford SmallCap Growth HLS Fund
Hartford Stock HLS Fund
Hartford U.S. Government Securities HLS Fund
Hartford Value HLS Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
94,963

$
9,989

$

$
999

$
404,328

$

$
555

$
3,731

$
98,462

$
1,813

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges
(1,689
)

(825
)

(56,922
)
(1,843
)
(71
)
(6,645
)
(198
)

  Mortality and expense risk charges
(81,731
)
(20,898
)
(6,872
)
(5,877
)
(661,530
)
(37,359
)
(16,089
)
(93,061
)
(47,721
)
(14,171
)
    Total expenses
(83,420
)
(20,898
)
(7,697
)
(5,877
)
(718,452
)
(39,202
)
(16,160
)
(99,706
)
(47,919
)
(14,171
)
    Net investment income (loss)
11,543

(10,909
)
(7,697
)
(4,878
)
(314,124
)
(39,202
)
(15,605
)
(95,975
)
50,543

(12,358
)
 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
210,446

(7,537
)
12,294

(5,086
)
63,128

(37,313
)
24,299

236,477

(8,205
)
70,557

  Net realized gain distributions

39,159

25,191

21,738






85,645

  Change in unrealized appreciation (depreciation) during the period
1,030,850

72,715

69,422

9,766

(39,695
)
500,955

169,563

594,862

(8,197
)
(45,535
)
    Net gain (loss) on investments
1,241,296

104,337

106,907

26,418

23,433

463,642

193,862

831,339

(16,402
)
110,667

    Net increase (decrease) in net assets resulting from operations
$
1,252,839

$
93,428

$
99,210

$
21,540

$
(290,691
)
$
424,440

$
178,257

$
735,364

$
34,141

$
98,309

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rational Dividend Capture VA Fund
Rational Insider Buying VA Fund
Lord Abbett Fundamental Equity Fund
Lord Abbett Calibrated Dividend Growth Fund
Lord Abbett Bond Debenture Fund
Lord Abbett Growth and Income Fund
MFS® Growth Fund
MFS® Global Equity Fund
MFS® Investors Trust Fund
MFS® Mid Cap Growth Fund
 
Sub-Account (1)
Sub-Account (2)
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
117,190

$
20,000

$

$
20

$

$

$
26,708

$
42,399

$
349,511

$
17,627

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges
(3,166
)
(1,971
)




(31,454
)
(5,755
)
(58,421
)
(16,316
)
  Mortality and expense risk charges
(34,249
)
(41,793
)
(7,515
)
(36,131
)
(111,303
)
(20,469
)
(341,155
)
(64,522
)
(609,513
)
(191,655
)
    Total expenses
(37,415
)
(43,764
)
(7,515
)
(36,131
)
(111,303
)
(20,469
)
(372,609
)
(70,277
)
(667,934
)
(207,971
)
    Net investment income (loss)
79,775

(23,764
)
(7,515
)
(36,111
)
(111,303
)
(20,469
)
(345,901
)
(27,878
)
(318,423
)
(190,344
)
 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
2,635

(136,767
)
14,187

35,264

87,501

97,322

1,885,921

248,366

2,011,781

387,844

  Net realized gain distributions

447,077

11,564

32,726


11,244

1,066,950

191,200

1,888,711

844,157

  Change in unrealized appreciation (depreciation) during the period
(207,769
)
23,837

67,072

251,423

598,171

4,842

2,940,232

389,267

2,977,510

1,485,683

    Net gain (loss) on investments
(205,134
)
334,147

92,823

319,413

685,672

113,408

5,893,103

828,833

6,878,002

2,717,684

    Net increase (decrease) in net assets resulting from operations
$
(125,359
)
$
310,383

$
85,308

$
283,302

$
574,369

$
92,939

$
5,547,202

$
800,955

$
6,559,579

$
2,527,340

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MFS® New Discovery Fund
MFS® Total Return Fund
MFS® Value Fund
MFS® Total Return Bond Series
MFS® Research Fund
MFS® High Yield Portfolio
BlackRock Global Allocation V.I. Fund
BlackRock Global Opportunities V.I. Fund
BlackRock Large Cap Focus Growth V.I. Fund
BlackRock Equity Dividend V.I. Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account (3)
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$

$
3,454,217

$
1,145,532

$
2,459,307

$
53,668

$
1,920,543

$
936

$

$
22

$
5,471

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges
(35,798
)
(173,681
)
(44,077
)
(78,958
)
(4,885
)


(13
)
(441
)

  Mortality and expense risk charges
(374,258
)
(1,847,180
)
(733,501
)
(822,159
)
(49,775
)
(410,785
)
(1,101
)
(659
)
(6,476
)
(3,565
)
    Total expenses
(410,056
)
(2,020,861
)
(777,578
)
(901,117
)
(54,660
)
(410,785
)
(1,101
)
(672
)
(6,917
)
(3,565
)
    Net investment income (loss)
(410,056
)
1,433,356

367,954

1,558,190

(992
)
1,509,758

(165
)
(672
)
(6,895
)
1,906

 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
533,050

3,442,169

2,780,755

366,781

138,905

(110,304
)
(81
)
356

25,787

16,160

  Net realized gain distributions
569,214

4,040,505

2,429,519


263,595




4,235

4,568

  Change in unrealized appreciation (depreciation) during the period
4,099,538

1,653,971

660,366

15,048

142,128

110,411

21,149

7,155

55,122

43,638

    Net gain (loss) on investments
5,201,802

9,136,645

5,870,640

381,829

544,628

107

21,068

7,511

85,144

64,366

    Net increase (decrease) in net assets resulting from operations
$
4,791,746

$
10,570,001

$
6,238,594

$
1,940,019

$
543,636

$
1,509,865

$
20,903

$
6,839

$
78,249

$
66,272

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Morgan Stanley VIF Core Plus Fixed Income Portfolio
Morgan Stanley VIF Growth Portfolio
Morgan Stanley VIF Mid Cap Growth Portfolio
Invesco V.I. American Value Fund
Morgan Stanley Mid Cap Growth Portfolio
BlackRock Capital Appreciation V.I. Fund
Columbia Variable Portfolio - Asset Allocation Fund
Columbia Variable Portfolio - Dividend Opportunity Fund
Columbia Variable Portfolio - Income Opportunities Fund
Columbia Variable Portfolio - Mid Cap Growth Fund
 
Sub-Account (4)
Sub-Account (5)
Sub-Account (6)
Sub-Account
Sub-Account (7)
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
1,295

$

$

$
6,195

$

$

$
30,532

$

$
362,104

$

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges




(214
)



(2,098
)
(1,582
)
  Mortality and expense risk charges
(565
)
(3,994
)
(17,029
)
(11,413
)
(1,307
)
(2,897
)
(28,670
)
(119,295
)
(90,800
)
(111,880
)
    Total expenses
(565
)
(3,994
)
(17,029
)
(11,413
)
(1,521
)
(2,897
)
(28,670
)
(119,295
)
(92,898
)
(113,462
)
    Net investment income (loss)
730

(3,994
)
(17,029
)
(5,218
)
(1,521
)
(2,897
)
1,862

(119,295
)
269,206

(113,462
)
 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
59

6,754

(8,157
)
27,258

(2,809
)
10,082

(1,410
)
373,739

(120,211
)
273,178

  Net realized gain distributions

23,552


12,254


9,568

1,748




  Change in unrealized appreciation (depreciation) during the period
855

49,085

383,584

(6,539
)
36,544

97,738

157,874

220,346

127,010

834,281

    Net gain (loss) on investments
914

79,391

375,427

32,973

33,735

117,388

158,212

594,085

6,799

1,107,459

    Net increase (decrease) in net assets resulting from operations
$
1,644

$
75,397

$
358,398

$
27,755

$
32,214

$
114,491

$
160,074

$
474,790

$
276,005

$
993,997

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Oppenheimer Capital Appreciation Fund/VA
Oppenheimer Global Fund/VA
Oppenheimer Main Street Fund®/VA
Oppenheimer Main Street Small Cap Fund/VA
Oppenheimer Equity Income Fund/VA
Putnam VT Diversified Income Fund
Putnam VT Global Asset Allocation Fund
Putnam VT Growth Opportunities Fund
Putnam VT International Value Fund
Putnam VT International Equity Fund
 
Sub-Account
Sub-Account
Sub-Account (8)
Sub-Account
Sub-Account (9)
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
52

$
36,940

$
15,638

$
27,893

$
6,016

$
679,630

$
10,262

$
2,097

$
599

$
6,816

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges










  Mortality and expense risk charges
(6,747
)
(60,323
)
(13,902
)
(50,838
)
(1,395
)
(138,749
)
(9,979
)
(10,022
)
(557
)
(4,342
)
    Total expenses
(6,747
)
(60,323
)
(13,902
)
(50,838
)
(1,395
)
(138,749
)
(9,979
)
(10,022
)
(557
)
(4,342
)
    Net investment income (loss)
(6,695
)
(23,383
)
1,736

(22,945
)
4,621

540,881

283

(7,925
)
42

2,474

 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
(4,966
)
175,717

88,730

207,942

32,490

(180,262
)
5,268

47,874

2,967

6,119

  Net realized gain distributions
51,556


25,649

232,621



24,347

27,032



  Change in unrealized appreciation (depreciation) during the period
54,184

961,011

24,179

13,091

(30,257
)
173,761

31,246

323,980

6,061

50,478

    Net gain (loss) on investments
100,774

1,136,728

138,558

453,654

2,233

(6,501
)
60,861

398,886

9,028

56,597

    Net increase (decrease) in net assets resulting from operations
$
94,079

$
1,113,345

$
140,294

$
430,709

$
6,854

$
534,380

$
61,144

$
390,961

$
9,070

$
59,071

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 


SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Putnam VT Small Cap Value Fund
JPMorgan Insurance Trust Core Bond Portfolio
JPMorgan Insurance Trust U.S. Equity Portfolio
JPMorgan Insurance Trust Intrepid Mid Cap Portfolio
JPMorgan Insurance Trust Mid Cap Value Portfolio
Putnam VT Equity Income Fund
PIMCO All Asset Fund
PIMCO StocksPLUS Global Portfolio
PIMCO Global Multi-Asset Managed Allocation Portfolio
Jennison 20/20 Focus Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account (10)
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
2,577

$
883,718

$
42,032

$

$
29,145

$
2,387

$
3,537

$
13,765

$
122

$

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges









(45
)
  Mortality and expense risk charges
(4,520
)
(401,167
)
(56,620
)
(34,307
)
(44,275
)
(644
)
(723
)
(2,158
)
(88
)
(499
)
    Total expenses
(4,520
)
(401,167
)
(56,620
)
(34,307
)
(44,275
)
(644
)
(723
)
(2,158
)
(88
)
(544
)
    Net investment income (loss)
(1,943
)
482,551

(14,588
)
(34,307
)
(15,130
)
1,743

2,814

11,607

34

(544
)
 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
(5,759
)
(54,434
)
306,736

298,411

(24,910
)
956

(160
)
(18,892
)
(40
)
12,768

  Net realized gain distributions
14,624


47,239


162,538

4,227





  Change in unrealized appreciation (depreciation) during the period
1,610

261,090

244,962

(23,534
)
136,087

7,728

10,034

70,850

738

(4,379
)
    Net gain (loss) on investments
10,475

206,656

598,937

274,877

273,715

12,911

9,874

51,958

698

8,389

    Net increase (decrease) in net assets resulting from operations
$
8,532

$
689,207

$
584,349

$
240,570

$
258,585

$
14,654

$
12,688

$
63,565

$
732

$
7,845

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Jennison Fund
Prudential Value Portfolio
Prudential SP International Growth Portfolio
ClearBridge Variable Dividend Strategy Portfolio
Western Asset Variable Global High Yield Bond Portfolio
ClearBridge Variable Large Cap Value Portfolio
Invesco V.I. Growth and Income Fund
Invesco V.I. Comstock Fund
Invesco V.I. American Franchise Fund
Invesco V.I. Mid Cap Growth Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$

$

$

$
29

$

$
364

$
16,973

$
4,254

$
13,373

$

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges
(168
)



(39
)
(766
)
(279
)
(199
)


  Mortality and expense risk charges
(1,839
)
(338
)
(139
)
(236
)
(326
)
(6,420
)
(15,264
)
(3,324
)
(241,158
)
(40,294
)
    Total expenses
(2,007
)
(338
)
(139
)
(236
)
(365
)
(7,186
)
(15,543
)
(3,523
)
(241,158
)
(40,294
)
    Net investment income (loss)
(2,007
)
(338
)
(139
)
(207
)
(365
)
(6,822
)
1,430

731

(227,785
)
(40,294
)
 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
3,777

9,761

719

73

(209
)
3,648

50,999

17,640

844,948

21,943

  Net realized gain distributions





1,350

54,617

9,320

1,338,649

180,021

  Change in unrealized appreciation (depreciation) during the period
31,842

(6,931
)
2,518

2,568

2,846

57,385

(6,697
)
(11,709
)
1,271,270

260,986

    Net gain (loss) on investments
35,619

2,830

3,237

2,641

2,637

62,383

98,919

15,251

3,454,867

462,950

    Net increase (decrease) in net assets resulting from operations
$
33,612

$
2,492

$
3,098

$
2,434

$
2,272

$
55,561

$
100,349

$
15,982

$
3,227,082

$
422,656

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wells Fargo VT Index Asset Allocation Fund
Wells Fargo VT International Equity Fund
Wells Fargo VT Small Cap Growth Fund
Wells Fargo VT Discovery Fund
Wells Fargo VT Opportunity Fund
HIMCO VIT Index Fund
HIMCO VIT Portfolio Diversifier Fund
HIMCO VIT American Funds Asset Allocation Fund
HIMCO VIT American Funds Blue Chip Income and Growth Fund
HIMCO VIT American Funds Bond Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
173

$
27,850

$

$

$
61,534

$
80,503

$
347,226

$
127,606

$
141,170

$
344,360

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges





(6,694
)

(6,471
)
(4,530
)
(24,726
)
  Mortality and expense risk charges
(364
)
(11,134
)
(11,419
)
(82
)
(78,917
)
(18,397
)
(182,204
)
(132,511
)
(65,080
)
(225,832
)
    Total expenses
(364
)
(11,134
)
(11,419
)
(82
)
(78,917
)
(25,091
)
(182,204
)
(138,982
)
(69,610
)
(250,558
)
    Net investment income (loss)
(191
)
16,716

(11,419
)
(82
)
(17,383
)
55,412

165,022

(11,376
)
71,560

93,802

 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
127

(4,260
)
21,601

31

280,906

95,142

(383,718
)
(11,153
)
(54,570
)
(64,896
)
  Net realized gain distributions
1,133


26,197

435

542,134

256,549


648,663

820,018

39,502

  Change in unrealized appreciation (depreciation) during the period
663

132,165

122,774

1,106

(54,024
)
156,635

(936,406
)
459,172

(421,943
)
390,064

    Net gain (loss) on investments
1,923

127,905

170,572

1,572

769,016

508,326

(1,320,124
)
1,096,682

343,505

364,670

    Net increase (decrease) in net assets resulting from operations
$
1,732

$
144,621

$
159,153

$
1,490

$
751,633

$
563,738

$
(1,155,102
)
$
1,085,306

$
415,065

$
458,472

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Operations - UNAUDITED (continued)
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
HIMCO VIT American Funds Global Bond Fund
HIMCO VIT American Funds Global Growth and Income Fund
HIMCO VIT American Funds Global Growth Fund
HIMCO VIT American Funds Global Small Capitalization Fund
HIMCO VIT American Funds Growth Fund
HIMCO VIT American Funds Growth-Income Fund
HIMCO VIT American Funds International Fund
HIMCO VIT American Funds New World Fund
MFS® Core Equity Portfolio
MFS® Massachusetts Investors Growth Stock Portfolio
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
 
 
 
 
 
  Dividends
$
5,936

$
116,943

$
24,548

$
11,430

$
204,264

$
429,546

$
288,774

$
17,583

$
45,240

$
42,590

 
 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
 
  Administrative charges
(2,034
)
(5,805
)
(2,048
)
(5,928
)
(44,817
)
(24,298
)
(29,127
)
(2,867
)


  Mortality and expense risk charges
(22,161
)
(94,424
)
(33,953
)
(78,247
)
(478,059
)
(257,723
)
(282,086
)
(51,437
)
(66,809
)
(94,063
)
    Total expenses
(24,195
)
(100,229
)
(36,001
)
(84,175
)
(522,876
)
(282,021
)
(311,213
)
(54,304
)
(66,809
)
(94,063
)
    Net investment income (loss)
(18,259
)
16,714

(11,453
)
(72,745
)
(318,612
)
147,525

(22,439
)
(36,721
)
(21,569
)
(51,473
)
 
 
 
 
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
 
 
 
 
 
  Net realized gain (loss) on security transactions
(9,485
)
(1,999
)
14,233

(56,322
)
(894,420
)
(298,019
)
18,747

22,779

13,048

(9,742
)
  Net realized gain distributions

589,102

323,491

1,485,180

8,015,860

4,925,797

2,689,682


278,726

339,583

  Change in unrealized appreciation (depreciation) during the period
128,800

820,389

268,183

(200,191
)
1,360,096

(1,441,431
)
3,311,540

825,698

442,090

830,951

    Net gain (loss) on investments
119,315

1,407,492

605,907

1,228,667

8,481,536

3,186,347

6,019,969

848,477

733,864

1,160,792

    Net increase (decrease) in net assets resulting from operations
$
101,056

$
1,424,206

$
594,454

$
1,155,922

$
8,162,924

$
3,333,872

$
5,997,530

$
811,756

$
712,295

$
1,109,319

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
 
Hartford Life Insurance Company
 
 
Statements of Assets and Liabilities - UNAUDITED (concluded)
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
MFS® Research International Portfolio
Columbia Variable Portfolio - Large Cap Growth Fund
Columbia Variable Portfolio - Select International Equity Fund
Variable Portfolio - Loomis Sayles Growth Fund
 
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
Investment income:
 
 
 
 
 
  Dividends
$
178,800

$

$
100,237

$

 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
  Administrative charges




 
  Mortality and expense risk charges
(129,988
)
(116,017
)
(86,192
)
(83,473
)
 
    Total expenses
(129,988
)
(116,017
)
(86,192
)
(83,473
)
 
    Net investment income (loss)
48,812

(116,017
)
14,045

(83,473
)
 
 
 
 
 
 
 
Net realized and unrealized gain (loss) on investments:
 
 
 
 
 
  Net realized gain (loss) on security transactions
(21,169
)
118,323

42,176

95,239

 
  Net realized gain distributions




 
  Change in unrealized appreciation (depreciation) during the period
1,761,430

1,357,030

900,908

1,065,908

 
    Net gain (loss) on investments
1,740,261

1,475,353

943,084

1,161,147

 
    Net increase (decrease) in net assets resulting from operations
$
1,789,073

$
1,359,336

$
957,129

$
1,077,674

 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 

 
 
 
 
 
 
 
 
(1) Formerly Catalyst Dividend Capture VA Fund. Change effective May 1, 2017.
(2) Formerly Catalyst Insider Buying VA Fund. Change effective May 1, 2017.
(3) Formerly BlackRock Large Cap Growth V.I. Fund. Change effective June 12, 2017.
(4) Formerly UIF Core Plus Fixed Income Portfolio. Change effective May 1, 2017.
(5) Formerly UIF Growth Portfolio. Change effective May 1, 2017.
(6) Formerly UIF Mid Cap Growth Portfolio. Change effective May 1, 2017.
(7) Liquidated as of September 29, 2017.
(8) Merged with Oppenheimer Equity Income Fund/VA. Change effective April 28, 2017.
(9) Merged with Oppenheimer Main Street Fund®/VA. Change effective April 28, 2017.
(10) Liquidated as of May 19, 2017.















SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED
 
 
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
American Century VP Value Fund
American Century VP Growth Fund
AB VPS Balanced Wealth Strategy Portfolio
AB VPS International Value Portfolio
AB VPS Small/Mid Cap Value Portfolio
AB VPS Value Portfolio
AB VPS International Growth Portfolio
Invesco V.I. Value Opportunities Fund
Invesco V.I. Core Equity Fund
Invesco V.I. Government Securities Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
13,424

$
141

$
35,475

$
(46,211
)
$
(17,745
)
$
48

$
(2,768
)
$
(159,344
)
$
(119,082
)
$
625,699

  Net realized gain (loss) on security transactions
95,821

2,014

(4,850
)
81,598

45,226

5,329

21,931

(533,082
)
870,554

(619,181
)
  Net realized gain distributions

3,883

37,244


88,531




1,590,052


  Change in unrealized appreciation (depreciation) during the period
(41,460
)
10,348

386,742

881,422

(28,546
)
6,869

135,307

2,176,304

350,356

399,547

  Net increase (decrease) in net assets resulting from operations
67,785

16,386

454,611

916,809

87,466

12,246

154,470

1,483,878

2,691,880

406,065

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases
2,717

1,950

43,080

18,534

7,512



46,365

188,035

277,940

  Net transfers
(17,030
)
403

102,733

(176,291
)
(170,623
)
3,939

28,725

(343,465
)
134,907

4,322,899

  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(137,867
)
(1,732
)
(348,896
)
(339,076
)
(233,149
)
(15,838
)
(84,446
)
(1,487,988
)
(3,236,289
)
(9,723,141
)
  Other transactions
1



19


(1
)

663

416

1,471

  Death benefits
(1,986
)

(124,385
)
(136,597
)
(2,627
)

(3,678
)
(300,338
)
(624,940
)
(1,846,981
)
  Net annuity transactions



(34,436
)

(11,837
)

36,108

(23,519
)
125,314

  Net increase (decrease) in net assets resulting from unit transactions
(154,165
)
621

(327,468
)
(667,847
)
(398,887
)
(23,737
)
(59,399
)
(2,048,655
)
(3,561,390
)
(6,842,498
)
  Net increase (decrease) in net assets
(86,380
)
17,007

127,143

248,962

(311,421
)
(11,491
)
95,071

(564,777
)
(869,510
)
(6,436,433
)
 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
1,933,623

81,729

4,357,815

4,843,999

2,065,868

241,028

541,877

16,246,582

31,902,428

95,179,434

  End of period
$
1,847,243

$
98,736

$
4,484,958

$
5,092,961

$
1,754,447

$
229,537

$
636,948

$
15,681,805

$
31,032,918

$
88,743,001

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Invesco V.I. High Yield Fund
Invesco V.I. International Growth Fund
Invesco V.I. Mid Cap Core Equity Fund
Invesco V.I. Small Cap Equity Fund
Invesco V.I. Balanced Risk Allocation Fund
Invesco V.I. Diversified Dividend Fund
Invesco V.I. Government Money Market Fund
American Century VP Mid Cap Value Fund
American Funds Global Bond Fund
American Funds Global Growth and Income Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
11,528

$
49,589

$
(291,488
)
$
(302,560
)
$
43,060

$
18

$
(497,862
)
$
1,167

$
(324,654
)
$
(426,589
)
  Net realized gain (loss) on security transactions
(500
)
1,559,411

355,219

299,345

(9,311
)
258


1,829

55,379

1,502,211

  Net realized gain distributions


655,204

1,009,976

90,549

253


2,834

148,029

740,246

  Change in unrealized appreciation (depreciation) during the period
10,102

4,128,994

2,142,021

782,574

(60,950
)
(254
)

2,786

1,345,097

5,719,116

  Net increase (decrease) in net assets resulting from operations
21,130

5,737,994

2,860,956

1,789,335

63,348

275

(497,862
)
8,616

1,223,851

7,534,984

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases

281,790

195,027

129,190

91,840


584,740

422

31,361

177,345

  Net transfers
457

(803,271
)
(639,677
)
(164,449
)
(17,305
)

19,337,325

10,851

869,827

(240,433
)
  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(55,709
)
(3,956,188
)
(2,717,554
)
(2,173,717
)
(310,097
)
(541
)
(20,182,159
)
(4,457
)
(2,377,583
)
(4,248,396
)
  Other transactions

437

337

279

1

1

2,069


90

791

  Death benefits
(38,431
)
(586,870
)
(264,971
)
(272,733
)
(41,994
)

(2,123,902
)
(301
)
(341,650
)
(683,973
)
  Net annuity transactions
(346
)
47,199

50,396

29,090



(6,714
)

(14,195
)
76,223

  Net increase (decrease) in net assets resulting from unit transactions
(94,029
)
(5,016,903
)
(3,376,442
)
(2,452,340
)
(277,555
)
(540
)
(2,388,641
)
6,515

(1,832,150
)
(4,918,443
)
  Net increase (decrease) in net assets
(72,899
)
721,091

(515,486
)
(663,005
)
(214,207
)
(265
)
(2,886,503
)
15,131

(608,299
)
2,616,541

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
580,337

34,208,224

32,861,252

23,354,664

1,847,282

7,639

56,196,085

140,836

24,561,109

40,552,639

  End of period
$
507,438

$
34,929,315

$
32,345,766

$
22,691,659

$
1,633,075

$
7,374

$
53,309,582

$
155,967

$
23,952,810

$
43,169,180

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 
SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
American Funds Asset Allocation Fund
American Funds Blue Chip Income and Growth Fund
American Funds Bond Fund
American Funds Global Growth Fund
American Funds Growth Fund
American Funds Growth-Income Fund
American Funds International Fund
American Funds New World Fund
American Funds Global Small Capitalization Fund
Columbia Variable Portfolio - Small Company Growth Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
(1,632,682
)
$
(879,057
)
$
(885,315
)
$
(580,666
)
$
(4,823,201
)
$
(3,773,315
)
$
(816,199
)
$
(376,133
)
$
(309,692
)
$
(73,237
)
  Net realized gain (loss) on security transactions
5,163,059

2,707,536

(184,266
)
1,607,331

11,315,065

8,257,996

1,427,404

801,127

535,754

87,175

  Net realized gain distributions
6,848,852

3,068,592

1,735,432

1,422,007

37,815,821

21,968,865

949,902



251,474

  Change in unrealized appreciation (depreciation) during the period
5,619,171

1,185,797

1,895,545

7,496,159

24,624,044

19,024,832

15,962,600

5,460,830

5,108,594

581,424

  Net increase (decrease) in net assets resulting from operations
15,998,400

6,082,868

2,561,396

9,944,831

68,931,729

45,478,378

17,523,707

5,885,824

5,334,656

846,836

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases
350,117

200,374

340,934

87,447

1,709,721

1,282,588

196,477

136,215

71,508

365

  Net transfers
850,820

(797,042
)
4,464,226

(3,315
)
(7,537,656
)
(4,736,380
)
(1,121,372
)
1,005,529

(79,720
)
(150,274
)
  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(14,456,612
)
(7,522,934
)
(12,139,017
)
(4,376,682
)
(37,077,748
)
(32,362,993
)
(7,669,077
)
(3,090,885
)
(3,723,363
)
(205,718
)
  Other transactions
1,668

493

13,147

292

5,406

4,149

548

92

622

124

  Death benefits
(1,689,046
)
(1,026,001
)
(2,178,040
)
(627,305
)
(6,062,426
)
(5,351,106
)
(990,300
)
(358,025
)
(346,178
)
(56,232
)
  Net annuity transactions
198,724

(140,735
)
175,199

(59,356
)
(191,368
)
168,782

(66,327
)
(31,250
)
(16,274
)
(3,502
)
  Net increase (decrease) in net assets resulting from unit transactions
(14,744,329
)
(9,285,845
)
(9,323,551
)
(4,978,919
)
(49,154,071
)
(40,994,960
)
(9,650,051
)
(2,338,324
)
(4,093,405
)
(415,237
)
  Net increase (decrease) in net assets
1,254,071

(3,202,977
)
(6,762,155
)
4,965,912

19,777,658

4,483,418

7,873,656

3,547,500

1,241,251

431,599

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
148,582,358

84,142,065

123,541,317

43,944,517

375,951,324

337,129,140

75,344,612

28,455,125

31,146,908

4,334,457

  End of period
$
149,836,429

$
80,939,088

$
116,779,162

$
48,910,429

$
395,728,982

$
341,612,558

$
83,218,268

$
32,002,625

$
32,388,159

$
4,766,056

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wells Fargo VT Omega Growth Fund
Fidelity® VIP Growth Portfolio
Fidelity® VIP Contrafund® Portfolio
Fidelity® VIP Mid Cap Portfolio
Fidelity® VIP Value Strategies Portfolio
Fidelity® VIP Dynamic Capital Appreciation Portfolio
Fidelity® VIP Strategic Income Portfolio
Franklin Rising Dividends VIP Fund
Franklin Income VIP Fund
Franklin Large Cap Growth VIP Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
(7,725
)
$
(20,373
)
$
(150,276
)
$
(137,145
)
$
(7,079
)
$
(4,405
)
$
(512
)
$
359,659

$
9,766,666

$
(178,421
)
  Net realized gain (loss) on security transactions
5,711

35,763

764,257

493,435

8,674

2,626

(18
)
4,797,875

2,564,495

517,680

  Net realized gain distributions
21,776

113,743

595,259

529,005

117,208

16,474


5,951,251


1,847,725

  Change in unrealized appreciation (depreciation) during the period
130,984

331,632

952,405

614,586

(50,655
)
36,738

7,480

7,235,966

9,657,037

1,954,567

  Net increase (decrease) in net assets resulting from operations
150,746

460,765

2,161,645

1,499,881

68,148

51,433

6,950

18,344,751

21,988,198

4,141,551

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases

138

94,040

37,181

11,150



677,293

1,605,177

62,610

  Net transfers
51,743

(31,239
)
(496,099
)
(171,179
)
(499
)
15,109

2,364

(3,286,488
)
(2,622,195
)
321,766

  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(60,045
)
(20,431
)
(1,621,856
)
(1,625,872
)
(23,445
)
(25,787
)
(1,137
)
(14,471,507
)
(34,558,395
)
(2,330,361
)
  Other transactions
70

146

128

157




1,447

9,774

333

  Death benefits

(1,088
)
(301,459
)
(268,924
)



(2,061,924
)
(6,197,049
)
(393,704
)
  Net annuity transactions
(4,192
)
(30,954
)
(37,808
)
(1,087
)

(1,385
)

(205,896
)
(583,032
)
10,754

  Net increase (decrease) in net assets resulting from unit transactions
(12,424
)
(83,428
)
(2,363,054
)
(2,029,724
)
(12,794
)
(12,063
)
1,227

(19,347,075
)
(42,345,720
)
(2,328,602
)
  Net increase (decrease) in net assets
138,322

377,337

(201,409
)
(529,843
)
55,354

39,370

8,177

(1,002,324
)
(20,357,522
)
1,812,949

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
658,776

1,750,447

15,545,759

13,298,984

581,883

337,303

109,810

163,348,929

362,542,937

21,434,368

  End of period
$
797,098

$
2,127,784

$
15,344,350

$
12,769,141

$
637,237

$
376,673

$
117,987

$
162,346,605

$
342,185,415

$
23,247,317

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 


SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Franklin Global Real Estate VIP Fund
Franklin Small-Mid Cap Growth VIP Fund
Franklin Small Cap Value VIP Fund
Franklin Strategic Income VIP Fund
Franklin Mutual Shares VIP Fund
Templeton Developing Markets VIP Fund
Templeton Foreign VIP Fund
Templeton Growth VIP Fund
Franklin Mutual Global Discovery VIP Fund
Franklin Flex Cap Growth VIP Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
16,225

$
(652,368
)
$
(110,512
)
$
1,730,541

$
1,752,987

$
(37,204
)
$
778,482

$
320,226

$
218,333

$
(151,790
)
  Net realized gain (loss) on security transactions
(110
)
(1,050,099
)
194,010

(1,037,885
)
5,609,836

(119,817
)
332,707

2,844,613

474,246

(521,578
)
  Net realized gain distributions

4,647,823

880,982


7,931,195




3,339,428

25,348

  Change in unrealized appreciation (depreciation) during the period
27,309

3,182,323

(603,288
)
2,406,424

(5,371,558
)
4,387,653

6,368,665

10,902,918

(394,634
)
2,666,095

  Net increase (decrease) in net assets resulting from operations
43,424

6,127,679

361,192

3,099,080

9,922,460

4,230,632

7,479,854

14,067,757

3,637,373

2,018,075

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases
13

183,753

31,037

263,658

486,406

135,436

238,186

269,342

141,288

51,430

  Net transfers
(64,368
)
181,112

(1,080,153
)
2,661,112

(1,986,431
)
607,272

(1,329,376
)
(1,570,123
)
(639,251
)
(148,826
)
  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(22,671
)
(4,652,161
)
(1,764,489
)
(9,928,528
)
(18,974,498
)
(1,808,400
)
(6,323,619
)
(10,682,712
)
(5,315,203
)
(789,753
)
  Other transactions

576

3

1,961

6,798

1,293

1,113

5,007

5,649

728

  Death benefits
(1,171
)
(489,488
)
(61,036
)
(1,442,611
)
(3,803,131
)
(128,027
)
(1,015,261
)
(1,805,508
)
(696,000
)
(80,889
)
  Net annuity transactions
(2,598
)
38,990

(4,813
)
(166,759
)
161,220

(7,858
)
41,486

172,009

(32,288
)
(4,950
)
  Net increase (decrease) in net assets resulting from unit transactions
(90,795
)
(4,737,218
)
(2,879,451
)
(8,611,167
)
(24,109,636
)
(1,200,284
)
(8,387,471
)
(13,611,985
)
(6,535,805
)
(972,260
)
  Net increase (decrease) in net assets
(47,371
)
1,390,461

(2,518,259
)
(5,512,087
)
(14,187,176
)
3,030,348

(907,617
)
455,772

(2,898,432
)
1,045,815

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
855,299

45,772,218

14,743,972

108,493,198

207,416,296

14,913,656

64,936,858

110,930,197

61,818,346

10,079,964

  End of period
$
807,928

$
47,162,679

$
12,225,713

$
102,981,111

$
193,229,120

$
17,944,004

$
64,029,241

$
111,385,969

$
58,919,914

$
11,125,779

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Templeton Global Bond VIP Fund
Hartford Balanced HLS Fund
Hartford Total Return Bond HLS Fund
Hartford Capital Appreciation HLS Fund
Hartford Dividend and Growth HLS Fund
Hartford Healthcare HLS Fund
Hartford Global Growth HLS Fund
Hartford Disciplined Equity HLS Fund
Hartford Growth Opportunities HLS Fund
Hartford High Yield HLS Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
(146,088
)
$
(121,121
)
$
1,842,014

$
(1,123,158
)
$
(938,181
)
$
(832
)
$
(8,497
)
$
(130,674
)
$
(284,292
)
$
330,968

  Net realized gain (loss) on security transactions
(113,224
)
438,455

320,984

2,311,023

2,123,739

6,978

32,557

182,149

740,991

(11,013
)
  Net realized gain distributions
38,962



1,370,222

4,969,072

12,015

44,703

1,123,104

307,906


  Change in unrealized appreciation (depreciation) during the period
545,993

765,562

1,394,977

12,684,083

1,664,975

(1,187
)
132,543

122,666

4,242,214

67,949

  Net increase (decrease) in net assets resulting from operations
325,643

1,082,896

3,557,975

15,242,170

7,819,605

16,974

201,306

1,297,245

5,006,819

387,904

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases
53,279

110,335

203,014

280,587

209,826


78

92,599

207,614

110,170

  Net transfers
360,110

164,384

6,428,598

(4,130,910
)
(2,849,435
)
232

(38,909
)
(177,310
)
(842,602
)
264,045

  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(1,614,136
)
(1,113,992
)
(12,668,085
)
(12,044,651
)
(9,485,668
)
(32,624
)
(66,389
)
(905,059
)
(2,689,512
)
(1,008,875
)
  Other transactions
24

6

849

(43
)
497


(1
)
384

10

4

  Death benefits
(254,625
)
(420,252
)
(1,949,868
)
(2,099,725
)
(1,694,524
)
(233
)
(10,279
)
(151,399
)
(370,870
)
(201,488
)
  Net annuity transactions
(3,007
)
(18,303
)
(48,149
)
38,123

(55,997
)

(12,841
)
(72,650
)
(4,278
)
(3,766
)
  Net increase (decrease) in net assets resulting from unit transactions
(1,458,355
)
(1,277,822
)
(8,033,641
)
(17,956,619
)
(13,875,301
)
(32,625
)
(128,341
)
(1,213,435
)
(3,699,638
)
(839,910
)
  Net increase (decrease) in net assets
(1,132,712
)
(194,926
)
(4,475,666
)
(2,714,449
)
(6,055,696
)
(15,651
)
72,965

83,810

1,307,181

(452,006
)
 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
13,338,093

12,814,954

111,466,608

109,530,012

84,569,750

97,536

903,875

11,480,135

23,340,974

7,253,753

  End of period
$
12,205,381

$
12,620,028

$
106,990,942

$
106,815,563

$
78,514,054

$
81,885

$
976,840

$
11,563,945

$
24,648,155

$
6,801,747

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hartford International Opportunities HLS Fund
Hartford Small/Mid Cap Equity HLS Fund
Hartford MidCap HLS Fund
Hartford MidCap Value HLS Fund
Hartford Ultrashort Bond HLS Fund
Hartford Small Company HLS Fund
Hartford SmallCap Growth HLS Fund
Hartford Stock HLS Fund
Hartford U.S. Government Securities HLS Fund
Hartford Value HLS Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
11,543

$
(10,909
)
$
(7,697
)
$
(4,878
)
$
(314,124
)
$
(39,202
)
$
(15,605
)
$
(95,975
)
$
50,543

$
(12,358
)
  Net realized gain (loss) on security transactions
210,446

(7,537
)
12,294

(5,086
)
63,128

(37,313
)
24,299

236,477

(8,205
)
70,557

  Net realized gain distributions

39,159

25,191

21,738






85,645

  Change in unrealized appreciation (depreciation) during the period
1,030,850

72,715

69,422

9,766

(39,695
)
500,955

169,563

594,862

(8,197
)
(45,535
)
  Net increase (decrease) in net assets resulting from operations
1,252,839

93,428

99,210

21,540

(290,691
)
424,440

178,257

735,364

34,141

98,309

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases
112,920

650



99,045


10,590

1,772

21,669

28,973

  Net transfers
(29,731
)
(15,813
)
995

(91,815
)
2,718,022

(139,775
)
227,013

(46,380
)
257,504

(123,824
)
  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(490,862
)
(483,969
)
(37,715
)
(11,307
)
(7,848,972
)
(156,247
)
(43,807
)
(411,468
)
(303,956
)
(110,956
)
  Other transactions
41


(1
)

(51
)
13

182

366

170


  Death benefits
(71,697
)
(10,386
)

(6,043
)
(917,732
)
(108,314
)
(13,540
)
(82,057
)
(30,688
)

  Net annuity transactions
(39,275
)

(4,549
)

(88,131
)
(3,965
)

(12,863
)

(916
)
  Net increase (decrease) in net assets resulting from unit transactions
(518,604
)
(509,518
)
(41,270
)
(109,165
)
(6,037,819
)
(408,288
)
180,438

(550,630
)
(55,301
)
(206,723
)
  Net increase (decrease) in net assets
734,235

(416,090
)
57,940

(87,625
)
(6,328,510
)
16,152

358,695

184,734

(21,160
)
(108,414
)
 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
6,723,023

1,675,453

708,498

416,875

57,724,555

2,725,976

1,160,861

6,634,445

4,708,241

1,382,086

  End of period
$
7,457,258

$
1,259,363

$
766,438

$
329,250

$
51,396,045

$
2,742,128

$
1,519,556

$
6,819,179

$
4,687,081

$
1,273,672

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rational Dividend Capture VA Fund
Rational Insider Buying VA Fund
Lord Abbett Fundamental Equity Fund
Lord Abbett Calibrated Dividend Growth Fund
Lord Abbett Bond Debenture Fund
Lord Abbett Growth and Income Fund
MFS® Growth Fund
MFS® Global Equity Fund
MFS® Investors Trust Fund
MFS® Mid Cap Growth Fund
 
Sub-Account (1)
Sub-Account (2)
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
79,775

$
(23,764
)
$
(7,515
)
$
(36,111
)
$
(111,303
)
$
(20,469
)
$
(345,901
)
$
(27,878
)
$
(318,423
)
$
(190,344
)
  Net realized gain (loss) on security transactions
2,635

(136,767
)
14,187

35,264

87,501

97,322

1,885,921

248,366

2,011,781

387,844

  Net realized gain distributions

447,077

11,564

32,726


11,244

1,066,950

191,200

1,888,711

844,157

  Change in unrealized appreciation (depreciation) during the period
(207,769
)
23,837

67,072

251,423

598,171

4,842

2,940,232

389,267

2,977,510

1,485,683

  Net increase (decrease) in net assets resulting from operations
(125,359
)
310,383

85,308

283,302

574,369

92,939

5,547,202

800,955

6,559,579

2,527,340

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases
3,958

11,342

1,125

34,690

29,083


18,704

2,505

150,023

20,516

  Net transfers
25,254

(106,104
)
(14,094
)
(225,418
)
683,300

(10,695
)
(1,890,047
)
191,980

(1,788,654
)
8,648

  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(487,664
)
(476,516
)
(136,938
)
(425,707
)
(675,526
)
(179,944
)
(2,577,821
)
(562,925
)
(4,962,513
)
(1,710,110
)
  Other transactions
2

2

4

1

53

57

3

2

1,313

47

  Death benefits
162

(4,555
)

(8,459
)
(159,772
)
(16,084
)
(258,282
)
(77,438
)
(686,809
)
(286,293
)
  Net annuity transactions
1,541

682



(1,371
)

94,519

24,731

122,608

(3,867
)
  Net increase (decrease) in net assets resulting from unit transactions
(456,747
)
(575,149
)
(149,903
)
(624,893
)
(124,233
)
(206,666
)
(4,612,924
)
(421,145
)
(7,164,032
)
(1,971,059
)
  Net increase (decrease) in net assets
(582,106
)
(264,766
)
(64,595
)
(341,591
)
450,136

(113,727
)
934,278

379,810

(604,453
)
556,281

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
3,991,887

3,742,389

1,432,057

3,283,453

9,315,754

1,754,696

26,796,913

4,771,582

49,243,607

14,169,737

  End of period
$
3,409,781

$
3,477,623

$
1,367,462

$
2,941,862

$
9,765,890

$
1,640,969

$
27,731,191

$
5,151,392

$
48,639,154

$
14,726,018

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MFS® New Discovery Fund
MFS® Total Return Fund
MFS® Value Fund
MFS® Total Return Bond Series
MFS® Research Fund
MFS® High Yield Portfolio
BlackRock Global Allocation V.I. Fund
BlackRock Global Opportunities V.I. Fund
BlackRock Large Cap Focus Growth V.I. Fund
BlackRock Equity Dividend V.I. Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account (3)
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
(410,056
)
$
1,433,356

$
367,954

$
1,558,190

$
(992
)
$
1,509,758

$
(165
)
$
(672
)
$
(6,895
)
$
1,906

  Net realized gain (loss) on security transactions
533,050

3,442,169

2,780,755

366,781

138,905

(110,304
)
(81
)
356

25,787

16,160

  Net realized gain distributions
569,214

4,040,505

2,429,519


263,595




4,235

4,568

  Change in unrealized appreciation (depreciation) during the period
4,099,538

1,653,971

660,366

15,048

142,128

110,411

21,149

7,155

55,122

43,638

  Net increase (decrease) in net assets resulting from operations
4,791,746

10,570,001

6,238,594

1,940,019

543,636

1,509,865

20,903

6,839

78,249

66,272

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases
87,805

952,312

201,372

120,240

7,168

96,935




160

  Net transfers
(459,858
)
(995,294
)
(998,266
)
3,051,764

193,377

1,214,714

9,331


(80,559
)
(13,647
)
  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(3,124,033
)
(16,020,945
)
(6,121,156
)
(8,181,485
)
(336,301
)
(3,157,904
)
(1,356
)
(2,488
)
(28,758
)
(56,379
)
  Other transactions
275

1,614

824

146

90

930





  Death benefits
(449,796
)
(2,694,660
)
(837,917
)
(1,148,035
)
(69,383
)
(448,831
)


(19,763
)
(1,241
)
  Net annuity transactions
(27,884
)
328,350

72,869

171,294

(5,916
)
45,139





  Net increase (decrease) in net assets resulting from unit transactions
(3,973,491
)
(18,428,623
)
(7,682,274
)
(5,986,076
)
(210,965
)
(2,249,017
)
7,975

(2,488
)
(129,080
)
(71,107
)
  Net increase (decrease) in net assets
818,255

(7,858,622
)
(1,443,680
)
(4,046,057
)
332,671

(739,152
)
28,878

4,351

(50,831
)
(4,835
)
 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
30,037,343

155,634,755

63,152,998

78,599,528

3,649,101

30,652,921

200,285

36,378

443,860

705,620

  End of period
$
30,855,598

$
147,776,133

$
61,709,318

$
74,553,471

$
3,981,772

$
29,913,769

$
229,163

$
40,729

$
393,029

$
700,785

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Morgan Stanley VIF Core Plus Fixed Income Portfolio
Morgan Stanley VIF Growth Portfolio
Morgan Stanley VIF Mid Cap Growth Portfolio
Invesco V.I. American Value Fund
Morgan Stanley Mid Cap Growth Portfolio
BlackRock Capital Appreciation V.I. Fund
Columbia Variable Portfolio - Asset Allocation Fund
Columbia Variable Portfolio - Dividend Opportunity Fund
Columbia Variable Portfolio - Income Opportunities Fund
Columbia Variable Portfolio - Mid Cap Growth Fund
 
Sub-Account (4)
Sub-Account (5)
Sub-Account (6)
Sub-Account
Sub-Account (7)
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
730

$
(3,994
)
$
(17,029
)
$
(5,218
)
$
(1,521
)
$
(2,897
)
$
1,862

$
(119,295
)
$
269,206

$
(113,462
)
  Net realized gain (loss) on security transactions
59

6,754

(8,157
)
27,258

(2,809
)
10,082

(1,410
)
373,739

(120,211
)
273,178

  Net realized gain distributions

23,552


12,254


9,568

1,748




  Change in unrealized appreciation (depreciation) during the period
855

49,085

383,584

(6,539
)
36,544

97,738

157,874

220,346

127,010

834,281

  Net increase (decrease) in net assets resulting from operations
1,644

75,397

358,398

27,755

32,214

114,491

160,074

474,790

276,005

993,997

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases


13,388

10,884




2,018

311

189

  Net transfers

(4,802
)
(67,319
)
223,379

(142,281
)
(71,261
)
(34,524
)
(121,387
)
73,598

(114,810
)
  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(415
)
(49,862
)
(129,042
)
(133,968
)
(16,606
)
(52,312
)
(127,133
)
(608,639
)
(518,670
)
(409,106
)
  Other transactions


1

(152
)
2



372

52

270

  Death benefits


(41,308
)
(7,355
)


(31,931
)
(52,748
)
(67,177
)
(87,921
)
  Net annuity transactions






(884
)
(7,759
)
(5,974
)
(1,639
)
  Net increase (decrease) in net assets resulting from unit transactions
(415
)
(54,664
)
(224,280
)
92,788

(158,885
)
(123,573
)
(194,472
)
(788,143
)
(517,860
)
(613,017
)
  Net increase (decrease) in net assets
1,229

20,733

134,118

120,543

(126,671
)
(9,082
)
(34,398
)
(313,353
)
(241,855
)
380,980

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
43,794

247,562

1,299,458

950,108

126,671

559,679

1,929,599

7,528,292

6,004,460

6,786,779

  End of period
$
45,023

$
268,295

$
1,433,576

$
1,070,651

$

$
550,597

$
1,895,201

$
7,214,939

$
5,762,605

$
7,167,759

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Oppenheimer Capital Appreciation Fund/VA
Oppenheimer Global Fund/VA
Oppenheimer Main Street Fund®/VA
Oppenheimer Main Street Small Cap Fund/VA
Oppenheimer Equity Income Fund/VA
Putnam VT Diversified Income Fund
Putnam VT Global Asset Allocation Fund
Putnam VT Growth Opportunities Fund
Putnam VT International Value Fund
Putnam VT International Equity Fund
 
Sub-Account
Sub-Account
Sub-Account (8)
Sub-Account
Sub-Account (9)
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
(6,695
)
$
(23,383
)
$
1,736

$
(22,945
)
$
4,621

$
540,881

$
283

$
(7,925
)
$
42

$
2,474

  Net realized gain (loss) on security transactions
(4,966
)
175,717

88,730

207,942

32,490

(180,262
)
5,268

47,874

2,967

6,119

  Net realized gain distributions
51,556


25,649

232,621



24,347

27,032



  Change in unrealized appreciation (depreciation) during the period
54,184

961,011

24,179

13,091

(30,257
)
173,761

31,246

323,980

6,061

50,478

  Net increase (decrease) in net assets resulting from operations
94,079

1,113,345

140,294

430,709

6,854

534,380

61,144

390,961

9,070

59,071

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases
325

9,727

34,045

15,582


49,164


2,717


30

  Net transfers
7,418

96,461

26,421

(231,145
)
17,482

215,277

(10,002
)
(300,901
)
(72,682
)
28,555

  Net interfund transfers due to corporate actions


277,471


(277,471
)





  Surrenders for benefit payments and fees
(7,166
)
(370,942
)
(664,217
)
(373,250
)
(3,124
)
(1,229,108
)
(21,012
)
(139,579
)
(12,164
)
(39,679
)
  Other transactions
43

(1
)
(3
)
3



39




  Death benefits

(83,997
)
(28,435
)
(90,937
)

(228,911
)

(2,024
)

(8,533
)
  Net annuity transactions
(51,318
)

13,737


(28,005
)



(1,649
)

  Net increase (decrease) in net assets resulting from unit transactions
(50,698
)
(348,752
)
(340,981
)
(679,747
)
(291,118
)
(1,193,578
)
(30,975
)
(439,787
)
(86,495
)
(19,627
)
  Net increase (decrease) in net assets
43,381

764,593

(200,687
)
(249,038
)
(284,264
)
(659,198
)
30,169

(48,826
)
(77,425
)
39,444

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
543,614

4,470,280

1,126,233

4,535,693

284,264

12,444,852

694,957

1,939,236

114,925

294,529

  End of period
$
586,995

$
5,234,873

$
925,546

$
4,286,655

$

$
11,785,654

$
725,126

$
1,890,410

$
37,500

$
333,973

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Putnam VT Small Cap Value Fund
JPMorgan Insurance Trust Core Bond Portfolio
JPMorgan Insurance Trust U.S. Equity Portfolio
JPMorgan Insurance Trust Intrepid Mid Cap Portfolio
JPMorgan Insurance Trust Mid Cap Value Portfolio
Putnam VT Equity Income Fund
PIMCO All Asset Fund
PIMCO StocksPLUS Global Portfolio
PIMCO Global Multi-Asset Managed Allocation Portfolio
Jennison 20/20 Focus Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account (10)
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
(1,943
)
$
482,551

$
(14,588
)
$
(34,307
)
$
(15,130
)
$
1,743

$
2,814

$
11,607

$
34

$
(544
)
  Net realized gain (loss) on security transactions
(5,759
)
(54,434
)
306,736

298,411

(24,910
)
956

(160
)
(18,892
)
(40
)
12,768

  Net realized gain distributions
14,624


47,239


162,538

4,227





  Change in unrealized appreciation (depreciation) during the period
1,610

261,090

244,962

(23,534
)
136,087

7,728

10,034

70,850

738

(4,379
)
  Net increase (decrease) in net assets resulting from operations
8,532

689,207

584,349

240,570

258,585

14,654

12,688

63,565

732

7,845

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases
10,825

76,249

18,730

482

3,489






  Net transfers
103,873

1,234,182

(232,904
)
(5,610,173
)
97,752

(78
)
(252
)
(47,515
)
256


  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(96,997
)
(3,455,111
)
(458,124
)
(320,012
)
(572,460
)
(4,545
)
(1,816
)
(45,060
)
(762
)
(6,543
)
  Other transactions

1,289

167

46

162

(1
)




  Death benefits

(590,620
)
(64,444
)
(24,448
)
(69,232
)

(1,959
)


(23,845
)
  Net annuity transactions

(104,399
)
(10,377
)
(16,163
)
(27,122
)





  Net increase (decrease) in net assets resulting from unit transactions
17,701

(2,838,410
)
(746,952
)
(5,970,268
)
(567,411
)
(4,624
)
(4,027
)
(92,575
)
(506
)
(30,388
)
  Net increase (decrease) in net assets
26,233

(2,149,203
)
(162,603
)
(5,729,698
)
(308,826
)
10,030

8,661

(29,010
)
226

(22,543
)
 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
276,555

35,591,635

4,941,254

5,729,698

3,791,920

133,076

134,456

438,441

8,191

54,270

  End of period
$
302,788

$
33,442,432

$
4,778,651

$

$
3,483,094

$
143,106

$
143,117

$
409,431

$
8,417

$
31,727

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 


SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Jennison Fund
Prudential Value Portfolio
Prudential SP International Growth Portfolio
ClearBridge Variable Dividend Strategy Portfolio
Western Asset Variable Global High Yield Bond Portfolio
ClearBridge Variable Large Cap Value Portfolio
Invesco V.I. Growth and Income Fund
Invesco V.I. Comstock Fund
Invesco V.I. American Franchise Fund
Invesco V.I. Mid Cap Growth Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
(2,007
)
$
(338
)
$
(139
)
$
(207
)
$
(365
)
$
(6,822
)
$
1,430

$
731

$
(227,785
)
$
(40,294
)
  Net realized gain (loss) on security transactions
3,777

9,761

719

73

(209
)
3,648

50,999

17,640

844,948

21,943

  Net realized gain distributions





1,350

54,617

9,320

1,338,649

180,021

  Change in unrealized appreciation (depreciation) during the period
31,842

(6,931
)
2,518

2,568

2,846

57,385

(6,697
)
(11,709
)
1,271,270

260,986

  Net increase (decrease) in net assets resulting from operations
33,612

2,492

3,098

2,434

2,272

55,561

100,349

15,982

3,227,082

422,656

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases






90


52,186

1,740

  Net transfers
(1,287
)


351

437

4,293

(122,200
)
7

587,791

54,148

  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(24
)
(7,775
)
(5,574
)
(298
)
(1,154
)
(37,814
)
(181,304
)
(12,354
)
(1,595,217
)
(314,545
)
  Other transactions

(1
)






(59
)
1

  Death benefits

(20,349
)



(3,174
)
(28
)

(121,465
)
(33,088
)
  Net annuity transactions
(5,299
)




(4,053
)


18,449

(11,397
)
  Net increase (decrease) in net assets resulting from unit transactions
(6,610
)
(28,125
)
(5,574
)
53

(717
)
(40,748
)
(303,442
)
(12,347
)
(1,058,315
)
(303,141
)
  Net increase (decrease) in net assets
27,002

(25,633
)
(2,476
)
2,487

1,555

14,813

(203,093
)
3,635

2,168,767

119,515

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
133,406

44,591

12,396

21,280

34,023

662,586

1,494,723

218,390

15,346,497

2,687,446

  End of period
$
160,408

$
18,958

$
9,920

$
23,767

$
35,578

$
677,399

$
1,291,630

$
222,025

$
17,515,264

$
2,806,961

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 


SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wells Fargo VT Index Asset Allocation Fund
Wells Fargo VT International Equity Fund
Wells Fargo VT Small Cap Growth Fund
Wells Fargo VT Discovery Fund
Wells Fargo VT Opportunity Fund
HIMCO VIT Index Fund
HIMCO VIT Portfolio Diversifier Fund
HIMCO VIT American Funds Asset Allocation Fund
HIMCO VIT American Funds Blue Chip Income and Growth Fund
HIMCO VIT American Funds Bond Fund
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
(191
)
$
16,716

$
(11,419
)
$
(82
)
$
(17,383
)
$
55,412

$
165,022

$
(11,376
)
$
71,560

$
93,802

  Net realized gain (loss) on security transactions
127

(4,260
)
21,601

31

280,906

95,142

(383,718
)
(11,153
)
(54,570
)
(64,896
)
  Net realized gain distributions
1,133


26,197

435

542,134

256,549


648,663

820,018

39,502

  Change in unrealized appreciation (depreciation) during the period
663

132,165

122,774

1,106

(54,024
)
156,635

(936,406
)
459,172

(421,943
)
390,064

  Net increase (decrease) in net assets resulting from operations
1,732

144,621

159,153

1,490

751,633

563,738

(1,155,102
)
1,085,306

415,065

458,472

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases
10

1,643

462


21,436

15,672

61,953

975

1,292

75,960

  Net transfers

(1,881
)
12,375


(342,073
)
(74,144
)
2,049,649

113,509

(59,402
)
1,132,852

  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(54
)
(114,611
)
(103,591
)
(58
)
(554,175
)
(353,182
)
(2,910,193
)
(2,549,951
)
(578,532
)
(1,925,954
)
  Other transactions

2




2

32

(311
)

(273
)
  Death benefits

(16,884
)
(9,045
)

(159,025
)
(63,287
)
(102,387
)
(167,918
)
(28,471
)
(285,324
)
  Net annuity transactions

18,648






(23,437
)
(30,415
)
(9,681
)
  Net increase (decrease) in net assets resulting from unit transactions
(44
)
(113,083
)
(99,799
)
(58
)
(1,033,837
)
(474,939
)
(900,946
)
(2,627,133
)
(695,528
)
(1,012,420
)
  Net increase (decrease) in net assets
1,688

31,538

59,354

1,432

(282,204
)
88,799

(2,056,048
)
(1,541,827
)
(280,463
)
(553,948
)
 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
25,604

884,469

841,126

7,307

6,934,766

4,462,379

35,259,019

10,994,667

5,834,754

22,126,930

  End of period
$
27,292

$
916,007

$
900,480

$
8,739

$
6,652,562

$
4,551,178

$
33,202,971

$
9,452,840

$
5,554,291

$
21,572,982

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Statements of Changes in Net Assets - UNAUDITED (continued)
 
 
 
 
 
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
HIMCO VIT American Funds Global Bond Fund
HIMCO VIT American Funds Global Growth and Income Fund
HIMCO VIT American Funds Global Growth Fund
HIMCO VIT American Funds Global Small Capitalization Fund
HIMCO VIT American Funds Growth Fund
HIMCO VIT American Funds Growth-Income Fund
HIMCO VIT American Funds International Fund
HIMCO VIT American Funds New World Fund
MFS® Core Equity Portfolio
MFS® Massachusetts Investors Growth Stock Portfolio
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
 
 
 
 
 
  Net investment income (loss)
$
(18,259
)
$
16,714

$
(11,453
)
$
(72,745
)
$
(318,612
)
$
147,525

$
(22,439
)
$
(36,721
)
$
(21,569
)
$
(51,473
)
  Net realized gain (loss) on security transactions
(9,485
)
(1,999
)
14,233

(56,322
)
(894,420
)
(298,019
)
18,747

22,779

13,048

(9,742
)
  Net realized gain distributions

589,102

323,491

1,485,180

8,015,860

4,925,797

2,689,682


278,726

339,583

  Change in unrealized appreciation (depreciation) during the period
128,800

820,389

268,183

(200,191
)
1,360,096

(1,441,431
)
3,311,540

825,698

442,090

830,951

  Net increase (decrease) in net assets resulting from operations
101,056

1,424,206

594,454

1,155,922

8,162,924

3,333,872

5,997,530

811,756

712,295

1,109,319

 
 
 
 
 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
 
 
 
 
 
  Purchases
7,521

1,010

1,064

21,823

141,766

31,646

211,773

17,281

5,817

40,005

  Net transfers
194,998

(235,454
)
314,236

(4,689
)
(1,871,781
)
267,406

(845,100
)
102,071

(99,017
)
(159,388
)
  Net interfund transfers due to corporate actions










  Surrenders for benefit payments and fees
(205,811
)
(799,867
)
(144,019
)
(789,451
)
(5,375,795
)
(1,883,988
)
(2,598,355
)
(422,059
)
(375,972
)
(613,983
)
  Other transactions
96

21

134

(369
)
(1,127
)
(137
)
22

6

178

(2
)
  Death benefits
(14,477
)
(120,697
)
(36,531
)
(95,949
)
(509,621
)
(264,209
)
(433,324
)
(56,304
)
(14,078
)
(142,968
)
  Net annuity transactions
(5,295
)
(32,551
)
(763
)
(2,351
)
(43,626
)
(97,194
)
(3,824
)
(6,587
)
(41,520
)
903

  Net increase (decrease) in net assets resulting from unit transactions
(22,968
)
(1,187,538
)
134,121

(870,986
)
(7,660,184
)
(1,946,476
)
(3,668,808
)
(365,592
)
(524,592
)
(875,433
)
  Net increase (decrease) in net assets
78,088

236,668

728,575

284,936

502,740

1,387,396

2,328,722

446,164

187,703

233,886

 
 
 
 
 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
 
 
 
 
 
  Beginning of period
2,047,315

7,883,384

2,472,320

6,726,620

45,226,399

24,549,345

25,959,834

3,954,961

4,652,446

6,458,277

  End of period
$
2,125,403

$
8,120,052

$
3,200,895

$
7,011,556

$
45,729,139

$
25,936,741

$
28,288,556

$
4,401,125

$
4,840,149

$
6,692,163

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
 
 
 
 
 

SEPARATE ACCOUNT SEVEN
 
Hartford Life Insurance Company
 
 
Statements of Changes in Net Assets - UNAUDITED (concluded)
 
 
 
For the Periods Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
MFS® Research International Portfolio
Columbia Variable Portfolio - Large Cap Growth Fund
Columbia Variable Portfolio - Select International Equity Fund
Variable Portfolio - Loomis Sayles Growth Fund
 
 
Sub-Account
Sub-Account
Sub-Account
Sub-Account
 
 
 
 
 
 
 
Operations:
 
 
 
 
 
  Net investment income (loss)
$
48,812

$
(116,017
)
$
14,045

$
(83,473
)
 
  Net realized gain (loss) on security transactions
(21,169
)
118,323

42,176

95,239

 
  Net realized gain distributions




 
  Change in unrealized appreciation (depreciation) during the period
1,761,430

1,357,030

900,908

1,065,908

 
  Net increase (decrease) in net assets resulting from operations
1,789,073

1,359,336

957,129

1,077,674

 
 
 
 
 
 
 
Unit transactions:
 
 
 
 
 
  Purchases
99,938

2,153

1,320


 
  Net transfers
(345,560
)
(129,458
)
(74,018
)
(76,181
)
 
  Net interfund transfers due to corporate actions




 
  Surrenders for benefit payments and fees
(1,148,002
)
(367,145
)
(316,654
)
(286,058
)
 
  Other transactions
281

2

281

291

 
  Death benefits
(170,664
)
(47,951
)
(70,503
)
(50,289
)
 
  Net annuity transactions
40,153

(10,561
)
(3,746
)
(5,715
)
 
  Net increase (decrease) in net assets resulting from unit transactions
(1,523,854
)
(552,960
)
(463,320
)
(417,952
)
 
  Net increase (decrease) in net assets
265,219

806,376

493,809

659,722

 
 
 
 
 
 
 
Net assets:
 
 
 
 
 
  Beginning of period
9,488,547

6,752,146

5,001,617

4,794,952

 
  End of period
$
9,753,766

$
7,558,522

$
5,495,426

$
5,454,674

 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 

 
 
 
 
 
 
 
 

(1) Formerly Catalyst Dividend Capture VA Fund. Change effective May 1, 2017.
(2) Formerly Catalyst Insider Buying VA Fund. Change effective May 1, 2017.
(3) Formerly BlackRock Large Cap Growth V.I. Fund. Change effective June 12, 2017.
(4) Formerly UIF Core Plus Fixed Income Portfolio. Change effective May 1, 2017.
(5) Formerly UIF Growth Portfolio. Change effective May 1, 2017.
(6) Formerly UIF Mid Cap Growth Portfolio. Change effective May 1, 2017.
(7) Liquidated as of September 29, 2017.
(8) Merged with Oppenheimer Equity Income Fund/VA. Change effective April 28, 2017.
(9) Merged with Oppenheimer Main Street Fund®/VA. Change effective April 28, 2017.
(10) Liquidated as of May 19, 2017.
















SEPARATE ACCOUNT SEVEN
Hartford Life Insurance Company
 
 
 
 
 
 
 
Notes to Financial Statements - UNAUDITED
 
 
 
 
 
September 30, 2017
 
 
 
 
 

1. Organization:

Separate Account Seven (the “Account”) is a separate investment account established by Hartford Life Insurance Company (the “Sponsor Company”) and is registered with the Securities and Exchange Commission (“SEC”) as a unit investment trust under the Investment Company Act of 1940, as amended. Both the Sponsor Company and the Account are subject to supervision and regulation by the Department of Insurance of the State of Connecticut and the SEC. The contract owners of the Sponsor Company direct their deposits into various investment options (the “Sub-Accounts”) within the Account.

The Account is comprised of the following Sub-Accounts:
American Century VP Value Fund, American Century VP Growth Fund, AB VPS Balanced Wealth Strategy Portfolio, AB VPS International Value Portfolio, AB VPS Small/Mid Cap Value Portfolio, AB VPS Value Portfolio, AB VPS International Growth Portfolio, Invesco V.I. Value Opportunities Fund, Invesco V.I. Core Equity Fund, Invesco V.I. Government Securities Fund, Invesco V.I. High Yield Fund, Invesco V.I. International Growth Fund, Invesco V.I. Mid Cap Core Equity Fund, Invesco V.I. Small Cap Equity Fund, Invesco V.I. Balanced Risk Allocation Fund, Invesco V.I. Diversified Dividend Fund, Invesco V.I. Government Money Market Fund, American Century VP Mid Cap Value Fund, American Funds Global Bond Fund, American Funds Global Growth and Income Fund, American Funds Asset Allocation Fund, American Funds Blue Chip Income and Growth Fund, American Funds Bond Fund, American Funds Global Growth Fund, American Funds Growth Fund, American Funds Growth-Income Fund, American Funds International Fund, American Funds New World Fund, American Funds Global Small Capitalization Fund, Columbia Variable Portfolio - Small Company Growth Fund, Wells Fargo VT Omega Growth Fund, Fidelity® VIP Growth Portfolio, Fidelity® VIP Contrafund® Portfolio, Fidelity® VIP Mid Cap Portfolio, Fidelity® VIP Value Strategies Portfolio, Fidelity® VIP Dynamic Capital Appreciation Portfolio, Fidelity® VIP Strategic Income Portfolio, Franklin Rising Dividends VIP Fund, Franklin Income VIP Fund, Franklin Large Cap Growth VIP Fund, Franklin Global Real Estate VIP Fund, Franklin Small-Mid Cap Growth VIP Fund, Franklin Small Cap Value VIP Fund, Franklin Strategic Income VIP Fund, Franklin Mutual Shares VIP Fund, Templeton Developing Markets VIP Fund, Templeton Foreign VIP Fund, Templeton Growth VIP Fund, Franklin Mutual Global Discovery VIP Fund, Franklin Flex Cap Growth VIP Fund, Templeton Global Bond VIP Fund, Hartford Balanced HLS Fund, Hartford Total Return Bond HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Healthcare HLS Fund, Hartford Global Growth HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Growth Opportunities HLS Fund, Hartford High Yield HLS Fund, Hartford International Opportunities HLS Fund, Hartford Small/Mid Cap Equity HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Value HLS Fund, Hartford Ultrashort Bond HLS Fund, Hartford Small Company HLS Fund, Hartford SmallCap Growth HLS Fund, Hartford Stock HLS Fund, Hartford U.S. Government Securities HLS Fund, Hartford Value HLS Fund, Rational Dividend Capture VA Fund (Formerly Catalyst Dividend Capture VA Fund), Rational Insider Buying VA Fund (Formerly Catalyst Insider Buying VA Fund), Lord Abbett Fundamental Equity Fund, Lord Abbett Calibrated Dividend Growth Fund, Lord Abbett Bond Debenture Fund, Lord Abbett Growth and Income Fund, MFS® Growth Fund, MFS® Global Equity Fund, MFS® Investors Trust Fund, MFS® Mid Cap Growth Fund, MFS® New Discovery Fund, MFS® Total Return Fund, MFS® Value Fund, MFS® Total Return Bond Series, MFS® Research Fund, MFS® High Yield Portfolio, BlackRock Global Allocation V.I. Fund, BlackRock Global Opportunities V.I. Fund, BlackRock Large Cap Focus Growth V.I. Fund (Formerly BlackRock Large Cap Growth V.I. Fund), BlackRock Equity Dividend V.I. Fund, Morgan Stanley VIF Core Plus Fixed Income Portfolio (Formerly UIF Core Plus Fixed Income Portfolio), Morgan Stanley VIF Growth Portfolio (Formerly UIF Growth Portfolio), Morgan Stanley VIF Mid Cap Growth Portfolio (Formerly UIF Mid Cap Growth Portfolio), Invesco V.I. American Value Fund, Morgan Stanley Mid Cap Growth Portfolio*, BlackRock Capital Appreciation V.I. Fund, Columbia Variable Portfolio - Asset Allocation Fund, Columbia Variable Portfolio - Dividend Opportunity Fund, Columbia Variable Portfolio - Income Opportunities Fund, Columbia Variable Portfolio - Mid Cap Growth Fund, Oppenheimer Capital Appreciation Fund/VA, Oppenheimer Global Fund/VA, Oppenheimer Main Street Fund®/VA (Merged with Oppenheimer Equity Income Fund/VA), Oppenheimer Main Street Small Cap Fund/VA, Oppenheimer Equity Income Fund/VA (Merged with Oppenheimer Main Street Fund®/VA), Putnam VT Diversified Income Fund, Putnam VT Global Asset Allocation Fund, Putnam VT Growth Opportunities Fund, Putnam VT International Value Fund, Putnam VT International Equity Fund, Putnam VT Small Cap Value Fund, JPMorgan Insurance Trust Core Bond Portfolio, JPMorgan Insurance Trust U.S. Equity Portfolio, JPMorgan Insurance Trust Intrepid Mid Cap Portfolio*, JPMorgan Insurance Trust Mid Cap Value Portfolio, Putnam VT Equity Income Fund, PIMCO All Asset Fund, PIMCO StocksPLUS Global Portfolio, PIMCO Global Multi-Asset Managed Allocation Portfolio, Jennison 20/20 Focus Fund, Jennison Fund, Prudential Value Portfolio, Prudential SP International Growth Portfolio, ClearBridge Variable Dividend Strategy Portfolio, Western Asset Variable Global High Yield Bond Portfolio, ClearBridge Variable Large Cap Value Portfolio, Invesco V.I. Growth and Income Fund, Invesco V.I. Comstock Fund, Invesco V.I. American Franchise Fund, Invesco V.I. Mid Cap Growth Fund, Wells Fargo VT Index Asset Allocation Fund, Wells Fargo VT International Equity Fund, Wells Fargo VT Small Cap Growth Fund, Wells Fargo VT Discovery Fund, Wells Fargo VT Opportunity Fund, HIMCO VIT Index Fund, HIMCO VIT Portfolio Diversifier Fund, HIMCO VIT American Funds Asset Allocation Fund, HIMCO VIT American Funds Blue Chip Income and Growth Fund, HIMCO VIT American Funds Bond Fund, HIMCO VIT American Funds Global Bond Fund, HIMCO VIT American Funds Global Growth and Income Fund, HIMCO VIT American Funds Global Growth Fund, HIMCO VIT American Funds Global Small Capitalization Fund, HIMCO VIT American Funds Growth Fund, HIMCO VIT American Funds Growth-Income Fund, HIMCO VIT American Funds International Fund, HIMCO VIT American Funds New World Fund, MFS® Core Equity Portfolio, MFS® Massachusetts Investors Growth Stock Portfolio, MFS® Research International Portfolio, Columbia Variable Portfolio - Large Cap Growth Fund, Columbia Variable Portfolio - Select International Equity Fund, Variable Portfolio - Loomis Sayles Growth Fund.
* During 2017, this Sub-Account was liquidated.

The Sub-Accounts are invested in mutual funds (the “Funds”) of the same name. Each Sub-Account may invest in one or more share classes of a Fund, depending upon the product(s) available in that Sub-Account. A contract owner's unitized performance correlates with the share class associated with the contract owner's product.

If a Fund is subject to a merger by the Fund Manager, the Sub-Account invested in the surviving Fund acquires, at fair value, the net assets of the Sub-Account associated with the merging Fund on the date disclosed. These transfers are reflected in net interfund transfers due to corporate actions on the statements of changes in net assets.

Under applicable insurance law, the assets and liabilities of the Account are clearly identified and distinguished from the Sponsor Company’s other assets and liabilities and are not chargeable with liabilities arising out of any other business the Sponsor Company may conduct.

The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information.  These financial statements and notes should be read in conjunction with the Account’s 2016 annual financial statements and notes thereto included.

The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full year. The accompanying financial statements and notes are unaudited. These financial statements reflect all adjustments (generally consisting only of normal accruals) which are, in the opinion of management, necessary for the fair presentation of the financial position of each of the individual Sub-Accounts, the results of their operations and the changes in their net assets for the interim period presented.

2. Significant Accounting Policies:

The Account qualifies as an investment company and follows the accounting and reporting guidance as defined in Accounting Standards Codification 946, "Financial Services - Investment Companies." The following is a summary of significant accounting policies of the Account, which are in accordance with U.S. GAAP:

a) Security Transactions - Security transactions are recorded on the trade date (date the order to buy or sell is executed). Realized gains and losses on the sales of securities are computed using the average cost method. Dividend income is either accrued daily or as of the ex-dividend date based upon the Fund. Net realized gain distributions are accrued as of the ex-dividend date. Net realized gain distributions represent those dividends from the Funds which are characterized as capital gains under tax regulations.

b) Unit Transactions - Unit transactions are executed based on the unit values calculated at the close of the business day.

c) Federal Income Taxes - The operations of the Account form a part of, and are taxed with, the total operations of the Sponsor Company, which is taxed as an insurance company under the Internal Revenue Code ("IRC"). Under the current provisions of the IRC, the Sponsor Company does not expect to incur federal income taxes on the earnings of the Account to the extent the earnings are credited to the contract owners. Based on this, no charge is being made currently to the Account for federal income taxes. The Sponsor Company will review periodically the status of this policy. In the event of changes in the tax law, a charge may be made in future years for any federal income taxes that would be attributable to the contracts.

d) Use of Estimates - The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Actual results could differ from those estimates. The most significant estimates contained within the financial statements are the fair value measurements.

e) Mortality Risk - The mortality risk associated with net assets allocated to contracts in the annuity period is determined using certain mortality tables. The mortality risk is fully borne by the Sponsor Company and may result in additional amounts being transferred into the Account by the Sponsor Company to cover greater longevity of contract owners than expected. Conversely, if amounts allocated exceed amounts required, transfers may be made to the Sponsor Company. These amounts are included in net annuity transactions on the accompanying statements of changes in net assets.

f) Fair Value Measurements - The Sub-Accounts' investments are carried at fair value in the Account’s financial statements. The investments in shares of the Funds are valued at the September 30, 2017 closing net asset value as determined by the appropriate Fund Manager. For financial instruments that are carried at fair value, a hierarchy is used to place the instruments into three broad levels (Levels 1, 2 and 3) by prioritizing the inputs in the valuation techniques used to measure fair value.

Level 1: Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets that the Account has the ability to access at the measurement date. Level 1 investments include mutual funds.

Level 2: Observable inputs, other than unadjusted quoted prices included in Level 1, for the asset or liability or prices for similar assets and liabilities. Level 2 investments include those that are model priced by vendors using observable inputs.

Level 3: Valuations that are derived from techniques in which one or more of the significant inputs are unobservable (including assumptions about risk). Because Level 3 fair values, by their nature, contain unobservable market inputs, considerable judgment is used to determine the Level 3 fair values. Level 3 fair values represent the best estimate of an amount that could be realized in a current market exchange absent actual market exchanges.

In certain cases, the inputs used to measure fair value fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

As of September 30, 2017, the Sub-Accounts invest in mutual funds which are carried at fair value and represent Level 1 investments under the fair value hierarchy levels. There were no Level 2 or Level 3 investments in the Sub-Accounts. The Account’s policy is to recognize transfers of securities among the levels at the beginning of the reporting period. There were no transfers among the levels for the periods ended September 30, 2017.

g) Accounting for Uncertain Tax Positions - The federal audit of the years 2012 and 2013 began in March 2015 and was completed as of March 31, 2017 with no additional adjustments. Management believes that adequate provision has been made in the financial statements for any potential assessments that may result from tax examinations and other tax-related matters for all open tax years.

3. Administration of the Account and Related Charges:

Each Sub-Account is charged certain fees, according to contract terms, as follows:

a) Mortality and Expense Risk Charges - The Sponsor Company, as an issuer of variable annuity contracts, assesses mortality and expense risk charges for which it receives a maximum annual fee of 1.55% of the Sub-Account’s average daily net assets. These charges are reflected in the accompanying statements of operations as a reduction in unit value.

b) Tax Expense Charges - If applicable, the Sponsor Company will make deductions up to a maximum rate of 3.50% of the contract’s average daily net assets to meet premium tax requirements. An additional tax charge based on a percentage of the Sub-Account’s average daily net assets may be assessed on partial withdrawals or surrenders. These charges are a redemption of units from applicable contract owners’ accounts and are reflected in surrenders for benefit payments and fees on the accompanying statements of changes in net assets.

c) Administrative Charges - The Sponsor Company provides administrative services to the Account and receives a maximum annual fee of 0.20% of the Sub-Account’s average daily net assets for these services. These charges are reflected in the accompanying statements of operations as a reduction in unit value.

d) Annual Maintenance Fees - An annual maintenance fee up to a maximum of $50 may be charged. These charges are deducted through a redemption of units from applicable contract owners’ accounts and are reflected in surrenders for benefit payments and fees in the accompanying statements of changes in net assets.

e) Rider Charges -

The Sponsor Company will make certain deductions (as a percentage of average daily Sub-Account value) for various rider charges:

Optional Death Benefit Charge maximum of 0.15%
Earnings Protection Benefit Charge maximum of 0.20%
Principal First Charge maximum of 0.75%
Principal First Preferred Charge maximum of 0.20%
MAV/EPB Death Benefit Charge maximum of 0.30%
MAV 70 Death Benefit Charge maximum of 0.20%
MAV Plus Charge maximum of 0.30%
Maximum Anniversary Value III Charge maximum of 1.50%
Liquidity Feature Charge maximum of 0.50%
MAV V Charge maximum of 1.50%
MAV IV Charge maximum of 1.50%
Legacy Lock Charge maximum of 1.50%
Daily Lock Charge maximum of 2.50%
Safety Plus Charge maximum of 2.50%
Future 5 Charge maximum of 2.50%
Future 6 Charge maximum of 2.50%
Maximum Daily Value Charge maximum of 1.50%
Return of Premium IV Charge maximum of 0.75%
Return of Premium V Charge maximum of 0.75%
Return of Premium III Charge maximum of 0.75%
Return of Premium Death Benefit Charge maximum of 0.75%
The Hartford’s Lifetime Income Builder Charge maximum of 0.75%
The Hartford’s Lifetime Income Builder II Charge maximum of 0.75%
The Hartford’s Lifetime Income Foundation Charge maximum of 0.30%
The Hartford’s Lifetime Income Builder Selects Charge maximum of 1.50%
The Hartford’s Lifetime Income Builder Portfolios Charge maximum of 1.50%
Income Foundation Builder maximum of 2.50%

These charges can be assessed as a reduction in unit values or a redemption of units from applicable contract owners’ accounts as specified in the product prospectus.

f) Distribution Charge - A Distribution Charge of 0.85% may be charged, by the Sponsor Company, to the contract’s value each year at the contract anniversary date. This charge is based on a percentage of remaining gross premiums with each premium payment having its own Distribution Charge schedule. The Distribution Charge is reduced to zero after the completion of seven or eight years (based upon contract terms) after each respective premium payment. These charges are deducted through a redemption of units from applicable contract owners’ accounts and are reflected in surrenders for benefit payments and fees in the accompanying statements of changes in net assets.

g) Transactions with Related Parties - The Sponsor and its affiliates receive fees from the HLS and HIMCO VIT funds for services provided to these Funds. The fees received for these services are a maximum of 1.12% and 1.35%, respectively, of the Funds’ average daily net assets.

4. Purchases and Sales of Investments:

The cost of purchases and proceeds from sales of investments for the period ended September 30, 2017 were as follows:

Sub-Account
Purchases at Cost
Proceeds from Sales
American Century VP Value Fund
 
$
166,952

$
307,692

American Century VP Growth Fund
 
$
15,823

$
11,177

AB VPS Balanced Wealth Strategy Portfolio
 
$
318,762

$
573,511

AB VPS International Value Portfolio
 
$
114,858

$
828,915

AB VPS Small/Mid Cap Value Portfolio
 
$
198,563

$
526,665

AB VPS Value Portfolio
 
$
7,009

$
30,696

AB VPS International Growth Portfolio
 
$
99,261

$
161,428

Invesco V.I. Value Opportunities Fund
 
$
987,169

$
3,195,165

Invesco V.I. Core Equity Fund
 
$
2,643,721

$
4,734,141

Invesco V.I. Government Securities Fund
 
$
7,873,891

$
14,090,688

Invesco V.I. High Yield Fund
 
$
23,439

$
105,939

Invesco V.I. International Growth Fund
 
$
1,974,364

$
6,941,688

Invesco V.I. Mid Cap Core Equity Fund
 
$
1,918,088

$
4,930,815

Invesco V.I. Small Cap Equity Fund
 
$
2,168,584

$
3,913,506

Invesco V.I. Balanced Risk Allocation Fund
 
$
337,207

$
481,154

Invesco V.I. Diversified Dividend Fund
 
$
364

$
631

Invesco V.I. Government Money Market Fund
 
$
29,591,677

$
32,478,182

American Century VP Mid Cap Value Fund
 
$
19,151

$
8,635

American Funds Global Bond Fund
 
$
2,844,583

$
4,853,360

American Funds Global Growth and Income Fund
 
$
2,747,542

$
7,352,328

American Funds Asset Allocation Fund
 
$
12,029,164

$
21,557,319

American Funds Blue Chip Income and Growth Fund
 
$
7,108,840

$
14,205,140

American Funds Bond Fund
 
$
8,552,797

$
17,026,233

American Funds Global Growth Fund
 
$
4,122,828

$
8,260,409

American Funds Growth Fund
 
$
44,698,288

$
60,859,742

American Funds Growth-Income Fund
 
$
27,258,075

$
50,057,485

American Funds International Fund
 
$
5,127,258

$
14,643,603

American Funds New World Fund
 
$
2,430,882

$
5,145,337

American Funds Global Small Capitalization Fund
 
$
1,147,858

$
5,550,954

Columbia Variable Portfolio - Small Company Growth Fund
 
$
416,992

$
653,989

Wells Fargo VT Omega Growth Fund
 
$
135,190

$
133,560

Fidelity® VIP Growth Portfolio
 
$
274,730

$
264,790

Fidelity® VIP Contrafund® Portfolio
 
$
1,138,984

$
3,057,055

Fidelity® VIP Mid Cap Portfolio
 
$
959,811

$
2,597,675

Fidelity® VIP Value Strategies Portfolio
 
$
131,236

$
33,901

Fidelity® VIP Dynamic Capital Appreciation Portfolio
 
$
39,440

$
39,434

Fidelity® VIP Strategic Income Portfolio
 
$
2,507

$
1,793

Franklin Rising Dividends VIP Fund
 
$
11,004,352

$
24,040,514

Franklin Income VIP Fund
 
$
18,800,307

$
51,379,365

Franklin Large Cap Growth VIP Fund
 
$
3,807,336

$
4,466,633

Franklin Global Real Estate VIP Fund
 
$
37,201

$
111,770

Franklin Small-Mid Cap Growth VIP Fund
 
$
6,531,272

$
7,273,040

Franklin Small Cap Value VIP Fund
 
$
2,080,675

$
4,189,655

Franklin Strategic Income VIP Fund
 
$
7,412,631

$
14,293,258

Franklin Mutual Shares VIP Fund
 
$
15,183,418

$
29,608,875

Templeton Developing Markets VIP Fund
 
$
2,387,223

$
3,624,712

Templeton Foreign VIP Fund
 
$
3,347,105

$
10,956,094

Templeton Growth VIP Fund
 
$
3,671,931

$
16,963,683

Franklin Mutual Global Discovery VIP Fund
 
$
6,014,421

$
8,992,469

Franklin Flex Cap Growth VIP Fund
 
$
595,979

$
1,694,682

Templeton Global Bond VIP Fund
 
$
772,440

$
2,337,918

Hartford Balanced HLS Fund
 
$
673,913

$
2,072,856

Hartford Total Return Bond HLS Fund
 
$
10,500,624

$
16,692,256

Hartford Capital Appreciation HLS Fund
 
$
2,476,235

$
20,185,784

Hartford Dividend and Growth HLS Fund
 
$
6,397,436

$
16,241,849

Hartford Healthcare HLS Fund
 
$
12,194

$
33,636

Hartford Global Growth HLS Fund
 
$
153,435

$
245,573

Hartford Disciplined Equity HLS Fund
 
$
1,598,550

$
1,819,554

Hartford Growth Opportunities HLS Fund
 
$
1,303,773

$
4,979,795

Hartford High Yield HLS Fund
 
$
1,015,889

$
1,524,832

Hartford International Opportunities HLS Fund
 
$
581,504

$
1,088,567

Hartford Small/Mid Cap Equity HLS Fund
 
$
140,672

$
621,939

Hartford MidCap HLS Fund
 
$
25,191

$
48,967

Hartford MidCap Value HLS Fund
 
$
47,469

$
139,775

Hartford Ultrashort Bond HLS Fund
 
$
5,492,772

$
11,844,722

Hartford Small Company HLS Fund
 
$
72,087

$
519,579

Hartford SmallCap Growth HLS Fund
 
$
383,924

$
219,091

Hartford Stock HLS Fund
 
$
101,452

$
748,057

Hartford U.S. Government Securities HLS Fund
 
$
610,120

$
614,878

Hartford Value HLS Fund
 
$
134,300

$
267,736

Rational Dividend Capture VA Fund+
 
$
297,997

$
674,968

Rational Insider Buying VA Fund+
 
$
479,912

$
631,750

Lord Abbett Fundamental Equity Fund
 
$
66,996

$
212,849

Lord Abbett Calibrated Dividend Growth Fund
 
$
120,656

$
748,934

Lord Abbett Bond Debenture Fund
 
$
808,101

$
1,043,637

Lord Abbett Growth and Income Fund
 
$
36,117

$
252,006

MFS® Growth Fund
 
$
3,691,569

$
7,583,441

MFS® Global Equity Fund
 
$
841,828

$
1,099,652

MFS® Investors Trust Fund
 
$
3,296,043

$
8,889,789

MFS® Mid Cap Growth Fund
 
$
1,870,252

$
3,187,500

MFS® New Discovery Fund
 
$
1,264,219

$
5,078,552

MFS® Total Return Fund
 
$
10,003,228

$
22,957,992

MFS® Value Fund
 
$
7,348,779

$
12,233,582

MFS® Total Return Bond Series
 
$
8,145,663

$
12,573,544

MFS® Research Fund
 
$
931,788

$
880,150

MFS® High Yield Portfolio
 
$
4,925,540

$
5,664,805

BlackRock Global Allocation V.I. Fund
 
$
10,847

$
3,036

BlackRock Global Opportunities V.I. Fund
 
$

$
3,160

BlackRock Large Cap Focus Growth V.I. Fund+
 
$
4,256

$
135,996

BlackRock Equity Dividend V.I. Fund
 
$
37,902

$
102,535

Morgan Stanley VIF Core Plus Fixed Income Portfolio+
 
$
1,295

$
980

Morgan Stanley VIF Growth Portfolio+
 
$
28,142

$
63,248

Morgan Stanley VIF Mid Cap Growth Portfolio+
 
$
84,047

$
325,356

Invesco V.I. American Value Fund
 
$
310,009

$
210,188

Morgan Stanley Mid Cap Growth Portfolio+
 
$
1

$
160,405

BlackRock Capital Appreciation V.I. Fund
 
$
18,592

$
135,494

Columbia Variable Portfolio - Asset Allocation Fund
 
$
65,765

$
256,625

Columbia Variable Portfolio - Dividend Opportunity Fund
 
$
176,705

$
1,084,142

Columbia Variable Portfolio - Income Opportunities Fund
 
$
529,659

$
778,311

Columbia Variable Portfolio - Mid Cap Growth Fund
 
$
112,225

$
838,702

Oppenheimer Capital Appreciation Fund/VA
 
$
63,191

$
69,027

Oppenheimer Global Fund/VA
 
$
256,267

$
628,400

Oppenheimer Main Street Fund®/VA+
 
$
456,718

$
770,314

Oppenheimer Main Street Small Cap Fund/VA
 
$
386,302

$
856,373

Oppenheimer Equity Income Fund/VA+
 
$
6,017

$
292,513

Putnam VT Diversified Income Fund
 
$
1,107,978

$
1,760,674

Putnam VT Global Asset Allocation Fund
 
$
49,549

$
55,895

Putnam VT Growth Opportunities Fund
 
$
33,716

$
454,396

Putnam VT International Value Fund
 
$
979

$
87,432

Putnam VT International Equity Fund
 
$
41,282

$
58,434

Putnam VT Small Cap Value Fund
 
$
159,134

$
128,752

JPMorgan Insurance Trust Core Bond Portfolio
 
$
2,504,254

$
4,860,110

JPMorgan Insurance Trust U.S. Equity Portfolio
 
$
190,712

$
905,013

JPMorgan Insurance Trust Intrepid Mid Cap Portfolio+
 
$
51,906

$
6,056,482

JPMorgan Insurance Trust Mid Cap Value Portfolio
 
$
535,700

$
955,704

Putnam VT Equity Income Fund
 
$
6,629

$
5,281

PIMCO All Asset Fund
 
$
3,537

$
4,750

PIMCO StocksPLUS Global Portfolio
 
$
14,005

$
94,973

PIMCO Global Multi-Asset Managed Allocation Portfolio
 
$
378

$
851

Jennison 20/20 Focus Fund
 
$

$
30,931

Jennison Fund
 
$
4

$
8,623

Prudential Value Portfolio
 
$

$
28,465

Prudential SP International Growth Portfolio
 
$

$
5,714

ClearBridge Variable Dividend Strategy Portfolio
 
$
307

$
461

Western Asset Variable Global High Yield Bond Portfolio
 
$
336

$
1,419

ClearBridge Variable Large Cap Value Portfolio
 
$
3,658

$
49,877

Invesco V.I. Growth and Income Fund
 
$
140,472

$
387,867

Invesco V.I. Comstock Fund
 
$
83,168

$
85,463

Invesco V.I. American Franchise Fund
 
$
3,123,579

$
3,071,032

Invesco V.I. Mid Cap Growth Fund
 
$
851,098

$
1,014,512

Wells Fargo VT Index Asset Allocation Fund
 
$
1,315

$
417

Wells Fargo VT International Equity Fund
 
$
85,129

$
181,497

Wells Fargo VT Small Cap Growth Fund
 
$
92,659

$
177,680

Wells Fargo VT Discovery Fund
 
$
435

$
139

Wells Fargo VT Opportunity Fund
 
$
682,007

$
1,191,092

HIMCO VIT Index Fund
 
$
607,203

$
770,179

HIMCO VIT Portfolio Diversifier Fund
 
$
2,926,429

$
3,662,351

HIMCO VIT American Funds Asset Allocation Fund
 
$
1,955,732

$
3,945,580

HIMCO VIT American Funds Blue Chip Income and Growth Fund
 
$
1,105,302

$
909,252

HIMCO VIT American Funds Bond Fund
 
$
2,342,789

$
3,221,908

HIMCO VIT American Funds Global Bond Fund
 
$
269,571

$
310,798

HIMCO VIT American Funds Global Growth and Income Fund
 
$
713,884

$
1,295,606

HIMCO VIT American Funds Global Growth Fund
 
$
773,076

$
326,916

HIMCO VIT American Funds Global Small Capitalization Fund
 
$
1,694,855

$
1,153,406

HIMCO VIT American Funds Growth Fund
 
$
9,357,733

$
9,320,666

HIMCO VIT American Funds Growth-Income Fund
 
$
6,466,288

$
3,339,443

HIMCO VIT American Funds International Fund
 
$
4,441,296

$
5,442,860

HIMCO VIT American Funds New World Fund
 
$
222,618

$
624,933

MFS® Core Equity Portfolio
 
$
522,023

$
789,460

MFS® Massachusetts Investors Growth Stock Portfolio
 
$
673,919

$
1,261,244

MFS® Research International Portfolio
 
$
717,640

$
2,192,683

Columbia Variable Portfolio - Large Cap Growth Fund
 
$
108,568

$
777,546

Columbia Variable Portfolio - Select International Equity Fund
 
$
228,354

$
677,628

Variable Portfolio - Loomis Sayles Growth Fund
 
$
69,825

$
571,251


+ See Note 1 for additional information related to this Sub-Account.

5. Changes in Units Outstanding:

The changes in units outstanding for the period ended September 30, 2017 were as follows:

Sub-Account
 
Units Issued
Units Redeemed
Net Increase/(Decrease)
American Century VP Value Fund
 
7,633

15,427

(7,794
)
American Century VP Growth Fund
 
636

614

22

AB VPS Balanced Wealth Strategy Portfolio
 
13,437

38,162

(24,725
)
AB VPS International Value Portfolio
 
13,034

99,266

(86,232
)
AB VPS Small/Mid Cap Value Portfolio
 
5,106

23,241

(18,135
)
AB VPS Value Portfolio
 
333

2,082

(1,749
)
AB VPS International Growth Portfolio
 
11,429

18,194

(6,765
)
Invesco V.I. Value Opportunities Fund
 
535,360

1,737,773

(1,202,413
)
Invesco V.I. Core Equity Fund
 
45,106

251,864

(206,758
)
Invesco V.I. Government Securities Fund
 
4,965,903

10,175,146

(5,209,243
)
Invesco V.I. High Yield Fund
 
1,358

41,938

(40,580
)
Invesco V.I. International Growth Fund
 
641,384

2,042,050

(1,400,666
)
Invesco V.I. Mid Cap Core Equity Fund
 
467,037

1,831,344

(1,364,307
)
Invesco V.I. Small Cap Equity Fund
 
53,863

163,864

(110,001
)
Invesco V.I. Balanced Risk Allocation Fund
 
14,048

35,678

(21,630
)
Invesco V.I. Diversified Dividend Fund
 

30

(30
)
Invesco V.I. Government Money Market Fund
 
3,167,377

3,423,946

(256,569
)
American Century VP Mid Cap Value Fund
 
703

387

316

American Funds Global Bond Fund
 
226,618

372,440

(145,822
)
American Funds Global Growth and Income Fund
 
126,647

433,333

(306,686
)
American Funds Asset Allocation Fund
 
247,019

942,478

(695,459
)
American Funds Blue Chip Income and Growth Fund
 
2,103,410

6,949,561

(4,846,151
)
American Funds Bond Fund
 
439,717

1,044,841

(605,124
)
American Funds Global Growth Fund
 
119,976

329,533

(209,557
)
American Funds Growth Fund
 
368,711

2,636,763

(2,268,052
)
American Funds Growth-Income Fund
 
263,726

2,030,180

(1,766,454
)
American Funds International Fund
 
264,084

814,119

(550,035
)
American Funds New World Fund
 
88,750

172,728

(83,978
)
American Funds Global Small Capitalization Fund
 
45,833

224,144

(178,311
)
Columbia Variable Portfolio - Small Company Growth Fund
 
15,022

258,673

(243,651
)
Wells Fargo VT Omega Growth Fund
 
97,455

79,027

18,428

Fidelity® VIP Growth Portfolio
 
8,325

13,661

(5,336
)
Fidelity® VIP Contrafund® Portfolio
 
30,109

154,090

(123,981
)
Fidelity® VIP Mid Cap Portfolio
 
24,039

137,046

(113,007
)
Fidelity® VIP Value Strategies Portfolio
 
712

1,394

(682
)
Fidelity® VIP Dynamic Capital Appreciation Portfolio
 
1,183

1,794

(611
)
Fidelity® VIP Strategic Income Portfolio
 
167

85

82

Franklin Rising Dividends VIP Fund
 
139,862

899,970

(760,108
)
Franklin Income VIP Fund
 
300,797

2,328,291

(2,027,494
)
Franklin Large Cap Growth VIP Fund
 
103,368

228,872

(125,504
)
Franklin Global Real Estate VIP Fund
 
523

4,340

(3,817
)
Franklin Small-Mid Cap Growth VIP Fund
 
115,421

384,929

(269,508
)
Franklin Small Cap Value VIP Fund
 
68,915

241,121

(172,206
)
Franklin Strategic Income VIP Fund
 
243,355

668,862

(425,507
)
Franklin Mutual Shares VIP Fund
 
168,376

1,265,983

(1,097,607
)
Templeton Developing Markets VIP Fund
 
103,274

171,972

(68,698
)
Templeton Foreign VIP Fund
 
137,866

745,291

(607,425
)
Templeton Growth VIP Fund
 
138,280

954,893

(816,613
)
Franklin Mutual Global Discovery VIP Fund
 
69,622

292,005

(222,383
)
Franklin Flex Cap Growth VIP Fund
 
33,938

87,188

(53,250
)
Templeton Global Bond VIP Fund
 
53,209

157,906

(104,697
)
Hartford Balanced HLS Fund
 
130,213

589,487

(459,274
)
Hartford Total Return Bond HLS Fund
 
872,744

2,095,722

(1,222,978
)
Hartford Capital Appreciation HLS Fund
 
104,473

1,575,461

(1,470,988
)
Hartford Dividend and Growth HLS Fund
 
109,640

1,226,536

(1,116,896
)
Hartford Healthcare HLS Fund
 
42

6,514

(6,472
)
Hartford Global Growth HLS Fund
 
7,064

58,876

(51,812
)
Hartford Disciplined Equity HLS Fund
 
30,015

92,643

(62,628
)
Hartford Growth Opportunities HLS Fund
 
51,326

247,761

(196,435
)
Hartford High Yield HLS Fund
 
35,742

82,288

(46,546
)
Hartford International Opportunities HLS Fund
 
57,154

132,418

(75,264
)
Hartford Small/Mid Cap Equity HLS Fund
 
5,056

30,402

(25,346
)
Hartford MidCap HLS Fund
 
113

5,010

(4,897
)
Hartford MidCap Value HLS Fund
 
1,366

8,559

(7,193
)
Hartford Ultrashort Bond HLS Fund
 
4,328,559

9,391,002

(5,062,443
)
Hartford Small Company HLS Fund
 
9,995

61,276

(51,281
)
Hartford SmallCap Growth HLS Fund
 
15,888

8,507

7,381

Hartford Stock HLS Fund
 
17,146

299,547

(282,401
)
Hartford U.S. Government Securities HLS Fund
 
49,200

65,395

(16,195
)
Hartford Value HLS Fund
 
3,429

17,301

(13,872
)
Rational Dividend Capture VA Fund+
 
24,510

74,681

(50,171
)
Rational Insider Buying VA Fund+
 
6,343

198,191

(191,848
)
Lord Abbett Fundamental Equity Fund
 
2,684

9,618

(6,934
)
Lord Abbett Calibrated Dividend Growth Fund
 
4,806

37,777

(32,971
)
Lord Abbett Bond Debenture Fund
 
47,910

55,376

(7,466
)
Lord Abbett Growth and Income Fund
 
1,705

15,530

(13,825
)
MFS® Growth Fund
 
167,516

479,919

(312,403
)
MFS® Global Equity Fund
 
26,261

42,208

(15,947
)
MFS® Investors Trust Fund
 
70,472

489,959

(419,487
)
MFS® Mid Cap Growth Fund
 
102,375

304,574

(202,199
)
MFS® New Discovery Fund
 
41,876

224,802

(182,926
)
MFS® Total Return Fund
 
179,779

1,111,413

(931,634
)
MFS® Value Fund
 
140,817

463,712

(322,895
)
MFS® Total Return Bond Series
 
431,418

867,572

(436,154
)
MFS® Research Fund
 
29,188

38,204

(9,016
)
MFS® High Yield Portfolio
 
273,095

468,798

(195,703
)
BlackRock Global Allocation V.I. Fund
 
760

153

607

BlackRock Global Opportunities V.I. Fund
 

129

(129
)
BlackRock Large Cap Focus Growth V.I. Fund+
 

5,792

(5,792
)
BlackRock Equity Dividend V.I. Fund
 
1,561

5,571

(4,010
)
Morgan Stanley VIF Core Plus Fixed Income Portfolio+
 

38

(38
)
Morgan Stanley VIF Growth Portfolio+
 
304

3,271

(2,967
)
Morgan Stanley VIF Mid Cap Growth Portfolio+
 
5,908

19,998

(14,090
)
Invesco V.I. American Value Fund
 
16,715

11,344

5,371

Morgan Stanley Mid Cap Growth Portfolio+
 

9,787

(9,787
)
BlackRock Capital Appreciation V.I. Fund
 
495

7,927

(7,432
)
Columbia Variable Portfolio - Asset Allocation Fund
 
18,488

131,350

(112,862
)
Columbia Variable Portfolio - Dividend Opportunity Fund
 
13,619

69,281

(55,662
)
Columbia Variable Portfolio - Income Opportunities Fund
 
16,335

62,582

(46,247
)
Columbia Variable Portfolio - Mid Cap Growth Fund
 
8,327

51,695

(43,368
)
Oppenheimer Capital Appreciation Fund/VA
 
681

3,971

(3,290
)
Oppenheimer Global Fund/VA
 
14,127

35,161

(21,034
)
Oppenheimer Main Street Fund®/VA+
 
22,933

39,143

(16,210
)
Oppenheimer Main Street Small Cap Fund/VA
 
5,958

38,134

(32,176
)
Oppenheimer Equity Income Fund/VA+
 

20,584

(20,584
)
Putnam VT Diversified Income Fund
 
30,798

118,628

(87,830
)
Putnam VT Global Asset Allocation Fund
 
981

2,986

(2,005
)
Putnam VT Growth Opportunities Fund
 
399

37,715

(37,316
)
Putnam VT International Value Fund
 
46

10,508

(10,462
)
Putnam VT International Equity Fund
 
3,547

5,792

(2,245
)
Putnam VT Small Cap Value Fund
 
7,680

6,478

1,202

JPMorgan Insurance Trust Core Bond Portfolio
 
122,419

325,908

(203,489
)
JPMorgan Insurance Trust U.S. Equity Portfolio
 
3,971

34,152

(30,181
)
JPMorgan Insurance Trust Intrepid Mid Cap Portfolio+
 
2,137

228,053

(225,916
)
JPMorgan Insurance Trust Mid Cap Value Portfolio
 
12,604

34,089

(21,485
)
Putnam VT Equity Income Fund
 
1

169

(168
)
PIMCO All Asset Fund
 

336

(336
)
PIMCO StocksPLUS Global Portfolio
 
18

7,415

(7,397
)
PIMCO Global Multi-Asset Managed Allocation Portfolio
 
25

77

(52
)
Jennison 20/20 Focus Fund
 

3,877

(3,877
)
Jennison Fund
 
1

1,100

(1,099
)
Prudential Value Portfolio
 

15,090

(15,090
)
Prudential SP International Growth Portfolio
 

4,802

(4,802
)
ClearBridge Variable Dividend Strategy Portfolio
 
21

18

3

Western Asset Variable Global High Yield Bond Portfolio
 
172

463

(291
)
ClearBridge Variable Large Cap Value Portfolio
 
1,882

18,829

(16,947
)
Invesco V.I. Growth and Income Fund
 
3,793

18,980

(15,187
)
Invesco V.I. Comstock Fund
 
2,970

3,606

(636
)
Invesco V.I. American Franchise Fund
 
103,992

164,535

(60,543
)
Invesco V.I. Mid Cap Growth Fund
 
45,455

64,081

(18,626
)
Wells Fargo VT Index Asset Allocation Fund
 
5

25

(20
)
Wells Fargo VT International Equity Fund
 
20,615

125,527

(104,912
)
Wells Fargo VT Small Cap Growth Fund
 
3,265

8,191

(4,926
)
Wells Fargo VT Discovery Fund
 

2

(2
)
Wells Fargo VT Opportunity Fund
 
4,357

59,256

(54,899
)
HIMCO VIT Index Fund
 
11,387

32,793

(21,406
)
HIMCO VIT Portfolio Diversifier Fund
 
366,572

493,034

(126,462
)
HIMCO VIT American Funds Asset Allocation Fund
 
54,478

206,207

(151,729
)
HIMCO VIT American Funds Blue Chip Income and Growth Fund
 
8,337

45,799

(37,462
)
HIMCO VIT American Funds Bond Fund
 
178,008

268,339

(90,331
)
HIMCO VIT American Funds Global Bond Fund
 
24,375

26,964

(2,589
)
HIMCO VIT American Funds Global Growth and Income Fund
 
478

79,688

(79,210
)
HIMCO VIT American Funds Global Growth Fund
 
26,245

17,223

9,022

HIMCO VIT American Funds Global Small Capitalization Fund
 
16,167

85,675

(69,508
)
HIMCO VIT American Funds Growth Fund
 
63,983

491,373

(427,390
)
HIMCO VIT American Funds Growth-Income Fund
 
63,497

173,929

(110,432
)
HIMCO VIT American Funds International Fund
 
132,976

463,127

(330,151
)
HIMCO VIT American Funds New World Fund
 
19,391

46,217

(26,826
)
MFS® Core Equity Portfolio
 
17,600

60,402

(42,802
)
MFS® Massachusetts Investors Growth Stock Portfolio
 
26,356

100,398

(74,042
)
MFS® Research International Portfolio
 
55,906

202,594

(146,688
)
Columbia Variable Portfolio - Large Cap Growth Fund
 
9,892

57,083

(47,191
)
Columbia Variable Portfolio - Select International Equity Fund
 
12,743

55,517

(42,774
)
Variable Portfolio - Loomis Sayles Growth Fund
 
6,269

40,980

(34,711
)

+ See Note 1 for additional information related to this Sub-Account.

6. Financial Highlights:

The following is a summary of units, unit fair values, net assets, expense ratios, investment income ratios, and total return ratios as of or for each of the periods presented for the aggregate of all share classes within each Sub-Account that had outstanding units during the period ended. Years 2013-2016 represent twelve month periods. 2017 represents nine months ended September 30, 2017. The ranges presented are calculated using the results of only the contracts with the highest and lowest expense ratios. A specific unit value or ratio may be outside of the range presented in this table due to the initial assigned unit values, combined with varying performance and/or length of time since inception of the presented expense ratios. Investment income and total return ratios are calculated for the period the related share class within the Sub-Account is active, while the expense ratio is annualized. In the case of fund mergers, the expense, investment income, and total return ratios are calculated using only the results of the surviving fund and exclude the results of the fund merged into the surviving fund. For the fund merged into the surviving fund the results are through the date of the fund merger.

 
 
 Units #
 Unit
Fair Value
Lowest to Highest #
 Net Assets
Expense
Ratio Lowest to Highest*
Investment
Income
Ratio Lowest to Highest**
Total Return Ratio
Lowest to Highest***
American Century VP Value Fund
 
2017
94,427

$18.502286

to
$19.687561
$1,847,243
0.50
%
to
1.45%
1.22
%
to
1.25%
3.01
 %
to
3.74%
 
2016
102,221

$17.962488

to
$18.978389
$1,933,623
0.50
%
to
1.45%
1.26
%
to
1.58%
18.55
 %
to
19.68%
 
2015
134,163

$15.152060

to
$15.857703
$2,124,718
0.50
%
to
1.45%
1.97
%
to
1.99%
(5.41
)%
to
(4.50)%
 
2014
145,663

$16.018012

to
$16.605429
$2,421,509
0.50
%
to
1.45%
1.38
%
to
1.45%
11.27
 %
to
12.33%
 
2013
164,839

$14.395666

to
$14.782510
$2,445,633
0.50
%
to
1.45%
1.26
%
to
1.49%
29.59
 %
to
30.83%
American Century VP Growth Fund
 
2017
5,256

$18.784053

to
$18.784053
$98,736
0.65
%
to
0.65%
0.64
%
to
0.64%
20.31
 %
to
20.31%
 
2016
5,234

$15.613557

to
$15.613557
$81,729
0.65
%
to
0.65%
%
to
—%
3.52
 %
to
3.52%
 
2015
5,349

$15.082330

to
$15.082330
$80,675
0.65
%
to
0.65%
0.32
%
to
0.32%
3.87
 %
to
3.87%
 
2014
5,698

$14.519721

to
$14.519721
$82,740
0.65
%
to
0.65%
0.22
%
to
0.22%
10.35
 %
to
10.35%
 
2013
6,404

$13.158033

to
$13.158033
$84,260
0.65
%
to
0.65%
0.32
%
to
0.32%
28.09
 %
to
28.09%
AB VPS Balanced Wealth Strategy Portfolio
 
2017
295,443

$18.423951

to
$20.365619
$4,484,958
0.50
%
to
2.70%
1.84
%
to
1.85%
9.54
 %
to
11.36%
 
2016
320,168

$16.819960

to
$18.288255
$4,357,815
0.50
%
to
2.70%
1.81
%
to
1.82%
1.66
 %
to
3.92%
 
2015
374,626

$16.545243

to
$17.598041
$4,904,242
0.50
%
to
2.70%
1.08
%
to
1.98%
(1.40
)%
to
0.79%
 
2014
429,246

$16.781011

to
$17.460347
$5,609,903
0.50
%
to
2.70%
1.94
%
to
2.40%
4.26
 %
to
6.58%
 
2013
483,738

$16.095837

to
$16.383105
$5,959,909
0.50
%
to
2.70%
2.24
%
to
2.25%
13.18
 %
to
15.69%
AB VPS International Value Portfolio
 
2017
608,183

$15.279598

to
$16.273089
$5,092,961
0.50
%
to
2.70%
0.26
%
to
0.26%
18.93
 %
to
20.91%
 
2016
694,415

$12.847489

to
$13.458962
$4,843,999
0.50
%
to
2.70%
1.09
%
to
1.16%
(3.44
)%
to
(1.29)%
 
2015
838,191

$13.305686

to
$13.635361
$5,971,620
0.50
%
to
2.70%
1.80
%
to
2.31%
(0.33
)%
to
1.89%
 
2014
943,230

$7.256387

to
$13.349315
$6,632,784
0.85
%
to
2.70%
3.18
%
to
3.34%
(8.95
)%
to
(7.25)%
 
2013
1,010,778

$7.823764

to
$14.661951
$7,711,067
0.85
%
to
2.70%
5.69
%
to
5.85%
19.46
 %
to
21.69%
AB VPS Small/Mid Cap Value Portfolio
 
2017
78,240

$31.511005

to
$32.640221
$1,754,447
0.50
%
to
2.75%
0.25
%
to
0.25%
4.27
 %
to
6.04%
 
2016
96,375

$30.221710

to
$30.780680
$2,065,868
0.50
%
to
2.75%
0.36
%
to
0.36%
21.41
 %
to
24.17%
 
2015
89,305

$24.789138

to
$24.892381
$1,563,766
0.50
%
to
2.75%
0.52
%
to
0.52%
(8.25
)%
to
(6.16)%
 
2014
104,471

$26.417593

to
$27.131691
$1,958,260
0.50
%
to
2.75%
0.46
%
to
0.47%
5.99
 %
to
8.40%
 
2013
160,517

$24.369798

to
$25.663136
$2,785,675
0.50
%
to
2.70%
0.41
%
to
0.42%
33.97
 %
to
36.95%
AB VPS Value Portfolio
 
2017
16,325

$12.792798

to
$14.351500
$229,537
1.25
%
to
2.45%
1.12
%
to
1.15%
4.63
 %
to
5.58%
 
2016
18,074

$12.226389

to
$13.593127
$241,028
1.25
%
to
2.45%
1.45
%
to
1.45%
8.60
 %
to
9.91%
 
2015
20,373

$11.258625

to
$12.367875
$247,525
1.25
%
to
2.45%
1.84
%
to
1.91%
(9.42
)%
to
(8.32)%
 
2014
31,224

$12.429218

to
$13.490786
$412,812
1.25
%
to
2.45%
1.12
%
to
1.56%
8.09
 %
to
9.40%
 
2013
30,135

$11.498544

to
$12.331802
$366,054
1.25
%
to
2.45%
2.22
%
to
2.24%
33.19
 %
to
34.80%
AB VPS International Growth Portfolio
 
2017
62,995

$9.874396

to
$17.106016
$636,948
1.25
%
to
2.70%
0.89
%
to
0.97%
28.46
 %
to
29.87%
 
2016
69,760

$7.603435

to
$13.315844
$541,877
1.25
%
to
2.70%
%
to
—%
(9.55
)%
to
(8.22)%
 
2015
81,034

$8.284833

to
$14.721312
$685,378
1.25
%
to
2.70%
0.06
%
to
0.06%
(4.78
)%
to
(3.39)%
 
2014
92,219

$8.575540

to
$15.460592
$805,146
1.25
%
to
2.70%
%
to
—%
(4.04
)%
to
(2.64)%
 
2013
145,870

$8.808059

to
$16.111731
$1,288,825
1.25
%
to
2.70%
0.60
%
to
0.71%
10.30
 %
to
11.91%
Invesco V.I. Value Opportunities Fund
 
2017
8,644,756

$2.087504

to
$24.602180
$15,681,805
0.85
%
to
2.80%
0.40
%
to
0.41%
9.08
 %
to
10.69%
 
2016
9,847,169

$1.885957

to
$22.554491
$16,246,582
0.85
%
to
2.80%
0.39
%
to
0.41%
15.07
 %
to
17.33%
 
2015
11,289,971

$1.607345

to
$19.600856
$16,023,213
0.85
%
to
2.80%
2.56
%
to
2.70%
(12.88
)%
to
(11.16)%
 
2014
13,353,650

$1.809334

to
$22.498793
$21,512,109
0.85
%
to
2.80%
1.41
%
to
1.47%
3.68
 %
to
5.72%
 
2013
17,709,099

$1.711493

to
$21.756431
$27,217,711
0.85
%
to
2.75%
0.98
%
to
1.49%
30.13
 %
to
32.62%
Invesco V.I. Core Equity Fund
 
2017
1,895,715

$20.506688

to
$22.726007
$31,032,918
0.50
%
to
2.75%
0.79
%
to
1.05%
8.12
 %
to
9.72%
 
2016
2,102,473

$18.967298

to
$21.026178
$31,902,428
0.30
%
to
2.75%
%
to
0.79%
7.27
 %
to
9.69%
 
2015
2,557,382

$17.681405

to
$19.168832
$35,916,480
0.30
%
to
2.75%
%
to
0.93%
(8.33
)%
to
(6.28)%
 
2014
3,037,572

$19.287606

to
$20.230349
$45,804,800
0.50
%
to
2.75%
0.67
%
to
1.01%
5.21
 %
to
7.31%
 
2013
3,883,837

$18.331860

to
$18.852457
$54,978,053
0.50
%
to
2.75%
1.25
%
to
2.12%
25.75
 %
to
28.29%
Invesco V.I. Government Securities Fund
 
2017
67,026,887

$1.503747

to
$9.875759
$88,743,001
0.85
%
to
2.80%
2.11
%
to
2.15%
(0.34
)%
to
1.13%
 
2016
72,236,130

$1.486940

to
$9.909381
$95,179,434
0.85
%
to
2.80%
1.89
%
to
1.95%
(1.57
)%
to
0.37%
 
2015
81,385,877

$1.481433

to
$10.067115
$107,843,967
0.85
%
to
2.80%
1.40
%
to
2.28%
(2.43
)%
to
(0.50)%
 
2014
103,274,459

$1.488940

to
$10.317394
$139,060,173
0.85
%
to
2.80%
3.16
%
to
3.23%
1.26
 %
to
3.26%
 
2013
126,681,678

$1.441994

to
$10.188828
$166,630,318
0.85
%
to
2.80%
4.01
%
to
5.85%
(5.31
)%
to
(3.45)%
Invesco V.I. High Yield Fund
 
2017
124,709

$2.108922

to
$21.153281
$507,438
1.70
%
to
2.75%
4.05
%
to
4.15%
3.75
 %
to
4.57%
 
2016
165,289

$2.016745

to
$20.388679
$580,337
1.70
%
to
2.75%
4.06
%
to
4.20%
8.20
 %
to
9.34%
 
2015
285,060

$1.844510

to
$18.844144
$700,922
1.70
%
to
2.75%
0.31
%
to
5.36%
(5.79
)%
to
(4.80)%
 
2014
359,934

$1.937487

to
$20.003014
$926,477
1.70
%
to
2.75%
4.00
%
to
4.63%
(1.03
)%
to
0.01%
 
2013
496,894

$1.937261

to
$20.211788
$1,200,328
1.70
%
to
2.75%
4.05
%
to
5.05%
4.11
 %
to
5.20%
Invesco V.I. International Growth Fund
 
2017
10,061,096

$18.968350

to
$19.634722
$34,929,315
0.30
%
to
2.80%
%
to
1.46%
16.79
 %
to
18.81%
 
2016
11,461,762

$16.241116

to
$16.526576
$34,208,224
0.30
%
to
2.80%
%
to
1.42%
(3.20
)%
to
(0.99)%
 
2015
13,508,242

$16.476877

to
$16.778451
$40,865,876
0.50
%
to
2.80%
1.33
%
to
1.49%
(5.04
)%
to
(3.10)%
 
2014
16,785,585

$17.192346

to
$17.669116
$51,365,321
0.30
%
to
2.80%
1.38
%
to
1.56%
(2.44
)%
to
(0.21)%
 
2013
20,743,931

$17.228480

to
$18.110799
$62,425,737
0.30
%
to
2.80%
%
to
1.24%
15.73
 %
to
18.36%
Invesco V.I. Mid Cap Core Equity Fund
 
2017
12,391,311

$20.064642

to
$21.696397
$32,345,766
0.65
%
to
2.80%
0.33
%
to
0.54%
8.39
 %
to
9.97%
 
2016
13,755,618

$18.511422

to
$20.254163
$32,861,252
0.30
%
to
2.80%
%
to
0.08%
10.30
 %
to
12.82%
 
2015
15,879,793

$16.782407

to
$17.952080
$34,142,445
0.30
%
to
2.80%
%
to
0.35%
(6.68
)%
to
(4.57)%
 
2014
19,409,413

$17.983581

to
$18.605354
$44,250,479
0.50
%
to
2.80%
%
to
0.04%
1.55
 %
to
3.65%
 
2013
24,198,821

$17.754014

to
$17.950074
$53,794,965
0.50
%
to
2.75%
0.51
%
to
0.72%
25.32
 %
to
27.82%
Invesco V.I. Small Cap Equity Fund
 
2017
972,644

$23.563368

to
$26.488168
$22,691,659
0.30
%
to
2.80%
%
to
—%
7.39
 %
to
9.18%
 
2016
1,082,645

$21.942004

to
$24.260672
$23,354,664
0.30
%
to
2.80%
%
to
—%
8.97
 %
to
11.50%
 
2015
1,275,427

$20.135646

to
$21.757791
$25,063,705
0.30
%
to
2.80%
%
to
—%
(8.13
)%
to
(6.02)%
 
2014
1,560,844

$21.917230

to
$22.898847
$33,214,501
0.50
%
to
2.80%
%
to
—%
(0.47
)%
to
1.58%
 
2013
1,874,297

$22.019679

to
$22.543528
$39,908,287
0.50
%
to
2.80%
%
to
0.01%
33.68
 %
to
36.40%
Invesco V.I. Balanced Risk Allocation Fund
 
2017
122,565

$12.530549

to
$14.187428
$1,633,075
0.50
%
to
2.40%
3.84
%
to
3.92%
2.86
 %
to
4.33%
 
2016
144,195

$12.181854

to
$13.598736
$1,847,282
0.50
%
to
2.40%
0.15
%
to
0.18%
8.87
 %
to
10.96%
 
2015
182,225

$11.189212

to
$12.255624
$2,128,861
0.50
%
to
2.40%
3.89
%
to
3.93%
(6.67
)%
to
(4.88)%
 
2014
243,094

$11.853050

to
$12.883948
$3,014,688
0.50
%
to
2.70%
%
to
—%
2.89
 %
to
5.18%
 
2013
369,128

$11.519666

to
$12.249085
$4,386,691
0.50
%
to
2.70%
1.37
%
to
1.50%
(1.28
)%
to
0.91%
Invesco V.I. Diversified Dividend Fund
 
2017
394

$18.723583

to
$18.723583
$7,374
1.70
%
to
1.70%
1.51
%
to
1.51%
3.85
 %
to
3.85%
 
2016
424

$18.028771

to
$18.028771
$7,639
1.70
%
to
1.70%
1.15
%
to
1.15%
12.61
 %
to
12.61%
 
2015
456

$16.010378

to
$16.010378
$7,294
1.70
%
to
1.70%
1.51
%
to
1.51%
0.10
 %
to
0.10%
 
2014
487

$15.994424

to
$15.994424
$7,792
1.70
%
to
1.70%
1.51
%
to
1.51%
10.64
 %
to
10.64%
 
2013
520

$14.456478

to
$14.456478
$7,517
1.70
%
to
1.70%
2.11
%
to
2.11%
28.56
 %
to
28.56%
Invesco V.I. Government Money Market Fund
 
2017
5,714,731

$8.920996

to
$9.897097
$53,309,582
0.30
%
to
2.75%
0.21
%
to
0.39%
(1.67
)%
to
(0.03)%
 
2016
5,971,300

$9.072730

to
$9.900264
$56,196,085
0.30
%
to
2.75%
0.02
%
to
0.09%
(2.62
)%
to
(0.27)%
 
2015
5,557,239

$9.328886

to
$9.875737
$53,237,584
0.50
%
to
2.70%
0.01
%
to
0.01%
(2.65
)%
to
(0.49)%
 
2014
6,011,140

$9.575557

to
$9.924169
$58,575,866
0.50
%
to
2.75%
0.01
%
to
0.01%
(2.70
)%
to
(0.49)%
 
2013
2,143,849

$9.844166

to
$9.963797
$21,229,172
0.65
%
to
2.70%
%
to
—%
(1.56
)%
to
(0.36)%
American Century VP Mid Cap Value Fund
 
2017
7,343

$20.086970

to
$21.399568
$155,967
0.50
%
to
1.45%
1.28
%
to
1.29%
5.38
 %
to
6.13%
 
2016
7,027

$19.061376

to
$20.162741
$140,836
0.50
%
to
1.45%
1.55
%
to
1.57%
20.95
 %
to
22.11%
 
2015
7,844

$15.759549

to
$16.512615
$128,925
0.50
%
to
1.45%
1.50
%
to
1.51%
(3.00
)%
to
(2.07)%
 
2014
7,251

$16.246439

to
$16.861730
$121,938
0.50
%
to
1.45%
1.04
%
to
1.04%
14.57
 %
to
15.66%
 
2013
5,120

$14.180887

to
$14.578868
$74,713
0.50
%
to
1.45%
0.92
%
to
1.06%
28.03
 %
to
29.25%
American Funds Global Bond Fund
 
2017
1,900,290

$11.162007

to
$14.012842
$23,952,810
0.85
%
to
2.75%
%
to
—%
4.41
 %
to
5.90%
 
2016
2,046,112

$10.690698

to
$13.232531
$24,561,109
0.85
%
to
2.75%
0.55
%
to
0.56%
(0.07
)%
to
1.85%
 
2015
2,367,140

$10.698377

to
$12.992812
$28,150,075
0.85
%
to
2.75%
0.06
%
to
0.06%
(6.67
)%
to
(4.88)%
 
2014
3,130,737

$11.462756

to
$13.659029
$39,592,692
0.85
%
to
2.75%
0.97
%
to
1.39%
(1.36
)%
to
0.53%
 
2013
3,877,209

$11.620917

to
$13.586871
$49,307,481
0.85
%
to
2.75%
%
to
—%
(5.22
)%
to
(3.40)%
American Funds Global Growth and Income Fund
 
2017
2,473,872

$19.251735

to
$23.980330
$43,169,180
0.85
%
to
2.80%
0.29
%
to
0.29%
18.72
 %
to
20.45%
 
2016
2,780,558

$15.982931

to
$20.199758
$40,552,639
0.85
%
to
2.80%
1.79
%
to
1.85%
4.38
 %
to
6.44%
 
2015
3,275,195

$15.016349

to
$19.351769
$45,245,756
0.85
%
to
2.80%
1.74
%
to
1.93%
(4.07
)%
to
(2.18)%
 
2014
4,010,516

$15.350420

to
$20.172002
$57,173,603
0.85
%
to
2.80%
3.12
%
to
3.55%
2.72
 %
to
4.75%
 
2013
5,126,259

$14.654969

to
$19.637414
$70,429,149
0.85
%
to
2.80%
2.92
%
to
3.31%
19.15
 %
to
21.50%
American Funds Asset Allocation Fund
 
2017
6,779,475

$21.630527

to
$27.059863
$149,836,429
0.85
%
to
2.75%
0.27
%
to
0.28%
10.48
 %
to
12.05%
 
2016
7,474,934

$19.579122

to
$24.149417
$148,582,358
0.85
%
to
2.75%
1.52
%
to
1.60%
6.44
 %
to
8.48%
 
2015
8,515,745

$18.394082

to
$22.260837
$157,779,281
0.85
%
to
2.75%
1.30
%
to
1.75%
(1.35
)%
to
0.54%
 
2014
10,326,749

$18.646081

to
$22.141052
$192,713,621
0.85
%
to
2.75%
1.46
%
to
1.92%
2.54
 %
to
4.50%
 
2013
12,666,696

$18.184798

to
$21.186874
$228,180,458
0.85
%
to
2.75%
1.51
%
to
1.57%
20.34
 %
to
22.64%
American Funds Blue Chip Income and Growth Fund
 
2017
40,575,145

$2.281862

to
$25.368675
$80,939,088
0.85
%
to
2.80%
0.33
%
to
0.33%
6.86
 %
to
8.42%
 
2016
45,421,296

$2.104686

to
$23.741193
$84,142,065
0.85
%
to
2.80%
1.93
%
to
1.99%
15.42
 %
to
17.70%
 
2015
49,103,056

$1.788240

to
$20.568725
$78,142,230
0.85
%
to
2.80%
1.53
%
to
1.79%
(5.61
)%
to
(3.75)%
 
2014
60,912,481

$1.857941

to
$21.857895
$101,517,836
0.85
%
to
2.75%
2.78
%
to
2.96%
12.23
 %
to
14.38%
 
2013
69,658,343

$1.624298

to
$19.475651
$102,679,347
0.85
%
to
2.75%
1.68
%
to
2.47%
29.39
 %
to
31.88%
American Funds Bond Fund
 
2017
7,443,869

$11.996857

to
$18.166287
$116,779,162
0.85
%
to
2.75%
0.51
%
to
0.52%
1.37
 %
to
2.81%
 
2016
8,048,993

$11.835007

to
$17.669273
$123,541,317
0.85
%
to
2.75%
1.66
%
to
1.69%
0.15
 %
to
2.07%
 
2015
9,383,611

$11.817054

to
$17.310440
$142,174,433
0.85
%
to
2.75%
1.59
%
to
1.88%
(2.45
)%
to
(0.57)%
 
2014
11,634,548

$12.113335

to
$17.410454
$178,617,269
0.85
%
to
2.75%
1.80
%
to
2.03%
2.42
 %
to
4.39%
 
2013
14,571,483

$11.826830

to
$16.678760
$216,722,358
0.85
%
to
2.75%
1.46
%
to
1.94%
(4.81
)%
to
(2.99)%
American Funds Global Growth Fund
 
2017
1,902,486

$26.333235

to
$32.481944
$48,910,429
0.85
%
to
2.80%
0.08
%
to
0.09%
22.98
 %
to
24.78%
 
2016
2,112,043

$21.412322

to
$26.031439
$43,944,517
0.85
%
to
2.80%
0.89
%
to
0.90%
(2.16
)%
to
(0.23)%
 
2015
2,627,979

$21.884394

to
$26.091635
$55,461,338
0.85
%
to
2.80%
0.78
%
to
0.91%
3.98
 %
to
6.03%
 
2014
2,924,223

$21.110174

to
$24.607358
$58,852,611
0.85
%
to
2.75%
1.01
%
to
1.08%
(0.46
)%
to
1.45%
 
2013
3,614,598

$21.208236

to
$24.256306
$72,622,692
0.85
%
to
2.75%
1.21
%
to
1.24%
25.68
 %
to
28.08%
American Funds Growth Fund
 
2017
16,742,629

$30.133008

to
$32.333161
$395,728,982
0.85
%
to
2.80%
0.12
%
to
0.12%
18.41
 %
to
20.14%
 
2016
19,010,681

$25.447295

to
$26.911796
$375,951,324
0.85
%
to
2.80%
0.77
%
to
0.77%
6.47
 %
to
8.56%
 
2015
22,437,783

$23.902017

to
$24.789585
$412,477,546
0.85
%
to
2.80%
0.58
%
to
0.62%
3.91
 %
to
5.95%
 
2014
27,579,415

$23.003194

to
$23.396621
$483,527,481
0.85
%
to
2.80%
0.77
%
to
0.80%
5.51
 %
to
7.59%
 
2013
34,857,073

$21.745969

to
$21.801334
$573,773,764
0.85
%
to
2.80%
0.93
%
to
1.31%
26.51
 %
to
29.00%
American Funds Growth-Income Fund
 
2017
13,875,157

$26.233522

to
$30.800679
$341,612,558
0.85
%
to
2.80%
0.24
%
to
0.24%
13.42
 %
to
15.08%
 
2016
15,641,611

$23.130093

to
$26.765509
$337,129,140
0.85
%
to
2.80%
1.47
%
to
1.47%
8.44
 %
to
10.58%
 
2015
18,478,884

$21.329406

to
$24.205306
$363,762,709
0.85
%
to
2.80%
1.29
%
to
1.34%
(1.35
)%
to
0.60%
 
2014
22,806,694

$21.620632

to
$24.061873
$451,289,950
0.85
%
to
2.80%
1.21
%
to
1.29%
7.58
 %
to
9.70%
 
2013
29,071,667

$20.097293

to
$21.934620
$530,508,380
0.85
%
to
2.80%
1.31
%
to
1.99%
29.82
 %
to
32.37%
American Funds International Fund
 
2017
4,486,089

$19.412088

to
$22.882948
$83,218,268
0.85
%
to
2.75%
0.31
%
to
0.32%
23.44
 %
to
25.20%
 
2016
5,036,124

$15.725893

to
$18.277357
$75,344,612
0.85
%
to
2.75%
1.37
%
to
1.40%
0.72
 %
to
2.66%
 
2015
5,871,064

$15.612853

to
$17.804513
$86,358,475
0.85
%
to
2.75%
1.41
%
to
1.51%
(7.12
)%
to
(5.33)%
 
2014
7,146,466

$16.809166

to
$18.807754
$112,288,213
0.85
%
to
2.75%
0.96
%
to
1.40%
(5.29
)%
to
(3.48)%
 
2013
8,831,097

$17.748858

to
$19.485261
$145,297,514
0.85
%
to
2.75%
1.41
%
to
1.58%
18.34
 %
to
20.61%
American Funds New World Fund
 
2017
1,061,188

$19.013753

to
$37.743304
$32,002,625
0.85
%
to
2.75%
0.13
%
to
0.15%
20.79
 %
to
22.51%
 
2016
1,145,166

$15.740655

to
$30.807302
$28,455,125
0.85
%
to
2.75%
0.75
%
to
0.76%
2.40
 %
to
4.37%
 
2015
1,334,259

$15.371349

to
$29.518402
$32,198,956
0.85
%
to
2.75%
0.54
%
to
0.56%
(5.77
)%
to
(3.96)%
 
2014
1,699,674

$16.313049

to
$30.736786
$43,223,699
0.85
%
to
2.75%
0.88
%
to
0.89%
(10.37
)%
to
(8.65)%
 
2013
2,085,846

$18.200673

to
$33.647551
$58,781,086
0.85
%
to
2.75%
1.22
%
to
1.52%
8.36
 %
to
10.44%
American Funds Global Small Capitalization Fund
 
2017
1,268,576

$25.101492

to
$31.435107
$32,388,159
0.85
%
to
2.80%
0.39
%
to
0.39%
17.26
 %
to
18.98%
 
2016
1,446,887

$21.406541

to
$26.421449
$31,146,908
0.85
%
to
2.80%
0.24
%
to
0.24%
(0.72
)%
to
1.23%
 
2015
1,736,645

$21.561959

to
$26.099351
$37,224,562
0.85
%
to
2.80%
%
to
—%
(2.50
)%
to
(0.58)%
 
2014
2,095,226

$22.183189

to
$26.252305
$45,635,913
0.85
%
to
2.75%
0.11
%
to
0.11%
(0.65
)%
to
1.26%
 
2013
2,693,415

$22.327880

to
$25.926040
$58,725,046
0.85
%
to
2.75%
0.83
%
to
0.90%
24.80
 %
to
27.19%
Columbia Variable Portfolio - Small Company Growth Fund
 
2017
1,611,112

$2.230124

to
$27.051846
$4,766,056
1.70
%
to
2.80%
%
to
—%
20.14
 %
to
21.13%
 
2016
1,854,763

$1.841082

to
$22.517686
$4,334,457
1.70
%
to
2.80%
%
to
—%
9.63
 %
to
10.84%
 
2015
2,111,620

$1.660979

to
$20.539478
$4,404,444
1.70
%
to
2.80%
%
to
—%
0.96
 %
to
2.07%
 
2014
2,612,599

$1.627215

to
$20.344567
$5,125,430
1.70
%
to
2.80%
%
to
—%
(7.27
)%
to
(6.25)%
 
2013
3,000,847

$1.735616

to
$21.939930
$6,289,041
1.70
%
to
2.80%
0.11
%
to
0.11%
36.60
 %
to
38.11%
Wells Fargo VT Omega Growth Fund
 
2017
428,629

$26.709441

to
$30.828826
$797,098
1.25
%
to
2.75%
0.23
%
to
0.24%
22.67
 %
to
24.05%
 
2016
410,201

$21.530599

to
$25.132315
$658,776
1.25
%
to
2.75%
%
to
—%
(1.97
)%
to
(0.49)%
 
2015
535,224

$21.635741

to
$25.636925
$866,603
1.25
%
to
2.75%
%
to
—%
(1.14
)%
to
0.36%
 
2014
571,930

$21.558414

to
$25.931447
$933,625
1.25
%
to
2.75%
%
to
—%
1.26
 %
to
2.79%
 
2013
774,332

$1.193034

to
$20.972250
$1,224,790
1.25
%
to
2.50%
0.19
%
to
0.40%
36.76
 %
to
38.48%
Fidelity® VIP Growth Portfolio
 
2017
104,991

$19.802362

to
$29.974202
$2,127,784
1.25
%
to
2.70%
%
to
0.08%
25.56
 %
to
26.92%
 
2016
110,327

$15.602567

to
$23.873316
$1,750,447
1.25
%
to
2.70%
%
to
—%
(2.13
)%
to
(0.70)%
 
2015
112,585

$15.712413

to
$24.392581
$1,819,855
1.25
%
to
2.70%
0.03
%
to
0.03%
4.06
 %
to
5.58%
 
2014
142,057

$14.882518

to
$23.874181
$2,099,970
1.25
%
to
2.40%
%
to
—%
8.38
 %
to
9.63%
 
2013
76,817

$13.574728

to
$22.028133
$1,151,416
1.25
%
to
2.40%
0.05
%
to
0.12%
32.78
 %
to
34.31%
Fidelity® VIP Contrafund® Portfolio
 
2017
776,126

$26.381148

to
$29.025369
$15,344,350
0.50
%
to
2.75%
0.17
%
to
0.18%
13.81
 %
to
15.73%
 
2016
900,107

$23.180801

to
$25.080544
$15,545,759
0.50
%
to
2.75%
0.56
%
to
0.63%
4.81
 %
to
7.19%
 
2015
1,148,684

$22.117416

to
$23.397616
$18,538,795
0.50
%
to
2.75%
0.80
%
to
0.82%
(2.31
)%
to
(0.09)%
 
2014
1,393,601

$22.640127

to
$23.417586
$22,723,243
0.50
%
to
2.75%
0.73
%
to
0.84%
8.63
 %
to
11.10%
 
2013
1,636,395

$20.895412

to
$21.078399
$24,630,367
0.50
%
to
2.70%
0.85
%
to
0.86%
27.47
 %
to
30.30%
Fidelity® VIP Mid Cap Portfolio
 
2017
665,620

$27.382917

to
$27.723648
$12,769,141
0.50
%
to
2.70%
0.12
%
to
0.17%
11.26
 %
to
13.10%
 
2016
778,627

$24.512368

to
$24.611032
$13,298,984
0.50
%
to
2.70%
0.32
%
to
0.32%
8.94
 %
to
11.36%
 
2015
938,115

$22.010852

to
$22.591009
$14,496,070
0.50
%
to
2.70%
0.24
%
to
0.26%
(4.25
)%
to
(2.12)%
 
2014
1,096,983

$22.487394

to
$23.593679
$17,404,971
0.50
%
to
2.70%
0.02
%
to
0.02%
3.21
 %
to
5.50%
 
2013
1,201,597

$21.314452

to
$22.860601
$18,323,229
0.50
%
to
2.70%
0.20
%
to
0.32%
32.25
 %
to
35.19%
Fidelity® VIP Value Strategies Portfolio
 
2017
31,793

$18.308723

to
$32.229938
$637,237
1.25
%
to
2.75%
0.21
%
to
0.22%
11.11
 %
to
12.36%
 
2016
32,475

$16.295090

to
$29.007446
$581,883
1.25
%
to
2.75%
0.82
%
to
0.93%
6.31
 %
to
7.91%
 
2015
41,242

$15.099990

to
$27.286308
$657,526
1.25
%
to
2.75%
0.86
%
to
0.88%
(5.82
)%
to
(4.39)%
 
2014
48,293

$15.793821

to
$28.971599
$807,560
1.25
%
to
2.75%
0.70
%
to
0.80%
3.62
 %
to
5.19%
 
2013
94,871

$15.014580

to
$28.029835
$1,454,040
1.25
%
to
2.70%
0.68
%
to
0.70%
26.72
 %
to
28.57%
Fidelity® VIP Dynamic Capital Appreciation Portfolio
 
2017
17,157

$20.298611

to
$30.247926
$376,673
1.25
%
to
2.40%
0.20
%
to
0.27%
14.94
 %
to
15.93%
 
2016
17,768

$17.509591

to
$26.316250
$337,303
1.25
%
to
2.40%
0.81
%
to
1.08%
0.22
 %
to
1.38%
 
2015
21,840

$17.270582

to
$26.257268
$388,822
1.25
%
to
2.40%
0.51
%
to
0.99%
(1.37
)%
to
(0.23)%
 
2014
33,313

$17.310494

to
$26.622433
$560,600
1.25
%
to
2.40%
0.23
%
to
0.24%
8.04
 %
to
9.28%
 
2013
60,536

$15.839793

to
$24.768200
$932,859
1.25
%
to
2.30%
0.12
%
to
0.13%
35.11
 %
to
36.54%
Fidelity® VIP Strategic Income Portfolio
 
2017
7,472

$15.722256

to
$15.917994
$117,987
0.50
%
to
0.65%
%
to
—%
6.22
 %
to
6.34%
 
2016
7,390

$11.555892

to
$14.968580
$109,810
0.50
%
to
1.45%
%
to
3.40%
6.46
 %
to
7.48%
 
2015
9,535

$10.854415

to
$13.927036
$126,048
0.50
%
to
1.45%
2.57
%
to
2.61%
(3.35
)%
to
(2.42)%
 
2014
9,676

$11.230376

to
$14.273150
$131,512
0.50
%
to
1.45%
2.85
%
to
2.87%
1.89
 %
to
2.86%
 
2013
7,170

$13.783094

to
$13.876518
$99,079
0.50
%
to
0.65%
3.75
%
to
5.45%
(0.61
)%
to
(0.46)%
Franklin Rising Dividends VIP Fund
 
2017
6,003,955

$24.448526

to
$28.808029
$162,346,605
0.50
%
to
2.80%
1.48
%
to
1.56%
11.06
 %
to
12.90%
 
2016
6,764,063

$22.014024

to
$25.517537
$163,348,929
0.50
%
to
2.80%
1.35
%
to
1.37%
12.84
 %
to
15.36%
 
2015
7,759,455

$19.509293

to
$22.120594
$164,590,602
0.50
%
to
2.80%
1.42
%
to
1.62%
(6.31
)%
to
(4.23)%
 
2014
9,679,042

$20.822970

to
$23.097903
$217,207,566
0.50
%
to
2.80%
1.29
%
to
1.32%
5.72
 %
to
8.08%
 
2013
12,257,980

$19.696171

to
$21.371913
$258,059,095
0.50
%
to
2.80%
1.35
%
to
1.52%
26.11
 %
to
28.93%
Franklin Income VIP Fund
 
2017
15,992,752

$20.089281

to
$20.246235
$342,185,415
0.50
%
to
2.80%
3.88
%
to
4.16%
5.62
 %
to
7.43%
 
2016
18,020,246

$18.846757

to
$19.021188
$362,542,937
0.50
%
to
2.80%
4.81
%
to
4.99%
10.88
 %
to
13.30%
 
2015
21,626,662

$16.634234

to
$17.155407
$388,173,394
0.50
%
to
2.80%
4.52
%
to
4.62%
(9.62
)%
to
(7.61)%
 
2014
26,930,252

$18.004152

to
$18.981745
$531,422,802
0.50
%
to
2.80%
4.69
%
to
4.86%
1.73
 %
to
4.00%
 
2013
33,417,486

$17.311532

to
$18.659483
$645,762,006
0.50
%
to
2.80%
6.12
%
to
6.19%
10.80
 %
to
13.29%
Franklin Large Cap Growth VIP Fund
 
2017
1,183,329

$21.201676

to
$23.200869
$23,247,317
1.35
%
to
2.80%
0.63
%
to
0.63%
18.97
 %
to
20.26%
 
2016
1,308,833

$17.629724

to
$19.501475
$21,434,368
1.35
%
to
2.80%
%
to
—%
(4.50
)%
to
(3.11)%
 
2015
1,633,041

$18.195479

to
$20.421344
$27,760,346
1.35
%
to
2.80%
%
to
0.27%
2.71
 %
to
4.21%
 
2014
1,930,654

$17.460819

to
$19.943740
$31,676,912
1.35
%
to
2.75%
1.01
%
to
1.09%
9.41
 %
to
10.95%
 
2013
2,354,613

$15.737151

to
$18.228395
$35,049,205
1.35
%
to
2.75%
1.08
%
to
1.09%
25.15
 %
to
26.91%
Franklin Global Real Estate VIP Fund
 
2017
33,926

$19.024471

to
$24.499276
$807,928
1.40
%
to
2.40%
3.07
%
to
3.09%
4.71
 %
to
5.49%
 
2016
37,743

$18.169348

to
$23.224410
$855,299
1.40
%
to
2.40%
1.22
%
to
1.23%
(1.84
)%
to
(0.86)%
 
2015
37,567

$18.510266

to
$23.424914
$857,471
1.40
%
to
2.40%
3.07
%
to
3.24%
(1.81
)%
to
(0.83)%
 
2014
48,438

$18.852137

to
$23.620092
$1,114,608
1.40
%
to
2.40%
0.44
%
to
0.46%
12.28
 %
to
13.41%
 
2013
56,616

$16.789715

to
$20.826823
$1,153,745
1.40
%
to
2.40%
4.38
%
to
4.65%
(0.11
)%
to
0.90%
Franklin Small-Mid Cap Growth VIP Fund
 
2017
2,635,119

$26.440991

to
$27.953702
$47,162,679
0.50
%
to
2.80%
%
to
—%
13.09
 %
to
15.03%
 
2016
2,904,627

$23.380067

to
$24.301278
$45,772,218
0.50
%
to
2.80%
%
to
—%
1.29
 %
to
3.52%
 
2015
3,367,710

$23.081525

to
$23.475745
$52,059,671
0.50
%
to
2.80%
%
to
—%
(5.35
)%
to
(3.25)%
 
2014
4,136,936

$22.406751

to
$24.385128
$67,441,297
0.85
%
to
2.80%
%
to
—%
4.50
 %
to
6.56%
 
2013
5,125,090

$21.026849

to
$23.334129
$79,345,282
0.85
%
to
2.80%
%
to
—%
34.34
 %
to
36.99%
Franklin Small Cap Value VIP Fund
 
2017
681,437

$27.250732

to
$29.798341
$12,225,713
0.50
%
to
2.75%
0.40
%
to
0.52%
2.49
 %
to
4.16%
 
2016
853,643

$26.587670

to
$29.040831
$14,743,972
0.30
%
to
2.75%
%
to
0.78%
26.66
 %
to
29.73%
 
2015
876,888

$20.991766

to
$22.385491
$11,919,792
0.30
%
to
2.75%
%
to
0.69%
(9.90
)%
to
(7.80)%
 
2014
1,107,452

$23.298291

to
$24.012610
$16,455,234
0.50
%
to
2.75%
0.48
%
to
0.66%
(2.16
)%
to
(0.02)%
 
2013
1,390,083

$23.812141

to
$24.018165
$20,748,049
0.50
%
to
2.75%
1.16
%
to
1.32%
32.54
 %
to
35.44%
Franklin Strategic Income VIP Fund
 
2017
5,232,981

$15.412159

to
$15.516512
$102,981,111
0.50
%
to
2.80%
2.70
%
to
3.07%
2.21
 %
to
3.79%
 
2016
5,658,488

$14.949678

to
$15.079310
$108,493,198
0.50
%
to
2.80%
3.24
%
to
3.63%
5.26
 %
to
7.33%
 
2015
6,821,524

$13.929325

to
$14.325250
$122,914,593
0.50
%
to
2.80%
6.30
%
to
6.57%
(6.28
)%
to
(4.45)%
 
2014
8,389,084

$14.578740

to
$15.285334
$161,317,982
0.50
%
to
2.80%
5.79
%
to
5.93%
(0.70
)%
to
1.25%
 
2013
10,225,598

$14.399450

to
$15.392925
$198,652,045
0.50
%
to
2.80%
5.42
%
to
5.80%
0.66
 %
to
2.65%
Franklin Mutual Shares VIP Fund
 
2017
8,632,427

$20.639853

to
$23.601833
$193,229,120
0.30
%
to
2.80%
%
to
2.29%
4.13
 %
to
6.06%
 
2016
9,730,034

$19.821188

to
$22.252692
$207,416,296
0.30
%
to
2.80%
%
to
1.99%
12.85
 %
to
15.59%
 
2015
11,800,382

$17.563602

to
$19.250716
$219,877,316
0.30
%
to
2.80%
%
to
3.08%
(7.56
)%
to
(5.33)%
 
2014
14,365,304

$19.000464

to
$20.112965
$287,959,094
0.50
%
to
2.80%
1.82
%
to
1.99%
4.16
 %
to
6.51%
 
2013
17,906,901

$18.240897

to
$18.883899
$343,836,287
0.50
%
to
2.80%
2.02
%
to
2.07%
24.72
 %
to
27.41%
Templeton Developing Markets VIP Fund
 
2017
851,422

$18.148378

to
$29.682039
$17,944,004
0.85
%
to
2.75%
1.17
%
to
1.22%
28.58
 %
to
30.41%
 
2016
920,120

$14.114481

to
$22.760523
$14,913,656
0.85
%
to
2.75%
1.11
%
to
1.14%
14.60
 %
to
16.80%
 
2015
1,065,421

$12.316326

to
$19.487393
$14,902,292
0.85
%
to
2.75%
1.36
%
to
2.40%
(21.61
)%
to
(20.11)%
 
2014
1,327,897

$15.711905

to
$24.391339
$23,637,941
0.85
%
to
2.75%
1.80
%
to
1.97%
(10.58
)%
to
(8.87)%
 
2013
1,694,600

$17.571473

to
$26.764414
$34,141,312
0.85
%
to
2.75%
1.69
%
to
1.92%
(3.43
)%
to
(1.58)%
Templeton Foreign VIP Fund
 
2017
4,363,378

$16.439612

to
$17.322341
$64,029,241
0.30
%
to
2.75%
%
to
2.60%
11.37
 %
to
13.40%
 
2016
4,970,803

$14.761174

to
$15.275854
$64,936,858
0.30
%
to
2.75%
%
to
1.91%
4.27
 %
to
6.77%
 
2015
5,725,507

$14.122314

to
$14.156956
$71,098,235
0.50
%
to
2.75%
3.06
%
to
3.35%
(9.03
)%
to
(7.11)%
 
2014
6,427,949

$15.372277

to
$15.562315
$87,143,294
0.30
%
to
2.75%
%
to
1.77%
(13.54
)%
to
(11.49)%
 
2013
7,579,644

$17.367091

to
$18.000234
$118,072,167
0.30
%
to
2.75%
%
to
2.82%
19.64
 %
to
22.49%
Templeton Growth VIP Fund
 
2017
6,278,589

$19.835941

to
$21.436326
$111,385,969
0.50
%
to
2.75%
1.43
%
to
1.66%
12.61
 %
to
14.43%
 
2016
7,095,202

$17.614976

to
$18.733633
$110,930,197
0.50
%
to
2.75%
1.92
%
to
2.00%
6.65
 %
to
8.92%
 
2015
8,496,186

$16.517233

to
$17.199491
$123,367,075
0.50
%
to
2.75%
2.41
%
to
2.74%
(9.02
)%
to
(7.01)%
 
2014
10,363,841

$18.155747

to
$18.496229
$164,202,557
0.50
%
to
2.75%
1.21
%
to
1.53%
(5.45
)%
to
(3.37)%
 
2013
12,935,884

$19.140368

to
$19.202764
$215,920,588
0.50
%
to
2.75%
1.94
%
to
2.23%
27.27
 %
to
29.99%
Franklin Mutual Global Discovery VIP Fund
 
2017
2,077,207

$18.916485

to
$20.891039
$58,919,914
0.50
%
to
2.80%
1.63
%
to
1.81%
5.34
 %
to
7.08%
 
2016
2,299,590

$17.958351

to
$19.509669
$61,818,346
0.50
%
to
2.80%
1.51
%
to
1.71%
9.08
 %
to
11.46%
 
2015
2,724,775

$16.463719

to
$17.503562
$66,618,842
0.50
%
to
2.80%
2.60
%
to
2.79%
(6.31
)%
to
(4.22)%
 
2014
3,360,539

$17.572790

to
$18.275181
$87,271,968
0.50
%
to
2.80%
2.00
%
to
2.13%
2.79
 %
to
5.07%
 
2013
4,135,635

$17.095911

to
$17.393302
$104,121,213
0.50
%
to
2.80%
2.12
%
to
2.19%
24.09
 %
to
26.89%
Franklin Flex Cap Growth VIP Fund
 
2017
585,251

$22.903604

to
$25.561696
$11,125,779
0.50
%
to
2.75%
%
to
—%
19.70
 %
to
21.58%
 
2016
638,501

$19.134239

to
$21.023945
$10,079,964
0.50
%
to
2.75%
%
to
—%
(5.52
)%
to
(3.47)%
 
2015
778,813

$20.252735

to
$21.778839
$12,899,308
0.50
%
to
2.75%
%
to
—%
1.53
 %
to
3.80%
 
2014
893,234

$17.781146

to
$19.946646
$14,474,320
0.85
%
to
2.75%
%
to
—%
3.23
 %
to
5.21%
 
2013
1,109,141

$16.901039

to
$19.323070
$17,183,794
0.85
%
to
2.75%
%
to
—%
33.76
 %
to
36.32%
Templeton Global Bond VIP Fund
 
2017
868,101

$13.664946

to
$14.518205
$12,205,381
0.50
%
to
2.70%
%
to
—%
1.63
 %
to
3.31%
 
2016
972,798

$13.446298

to
$14.053626
$13,338,093
0.50
%
to
2.70%
%
to
—%
0.13
 %
to
2.36%
 
2015
1,102,227

$13.428944

to
$13.730112
$14,919,710
0.50
%
to
2.70%
6.47
%
to
8.02%
(6.94
)%
to
(4.87)%
 
2014
1,209,784

$14.430215

to
$14.432629
$17,397,591
0.50
%
to
2.70%
4.46
%
to
4.96%
(1.02
)%
to
1.19%
 
2013
1,311,053

$14.263388

to
$14.578287
$18,826,191
0.50
%
to
2.70%
4.45
%
to
4.95%
(1.17
)%
to
1.03%
Hartford Balanced HLS Fund
 
2017
3,928,205

$17.504974

to
$20.721068
$12,620,028
0.85
%
to
2.75%
0.31
%
to
0.47%
7.98
 %
to
9.73%
 
2016
4,387,479

$15.952107

to
$19.190531
$12,814,954
0.85
%
to
2.75%
2.22
%
to
2.53%
2.92
 %
to
5.14%
 
2015
5,237,448

$15.172419

to
$18.645311
$14,355,475
0.85
%
to
2.75%
1.59
%
to
1.59%
(2.78
)%
to
(0.67)%
 
2014
6,301,401

$15.274798

to
$19.177920
$16,694,431
0.85
%
to
2.75%
1.50
%
to
1.60%
6.54
 %
to
8.86%
 
2013
7,677,578

$14.031437

to
$18.001299
$18,155,718
0.85
%
to
2.75%
1.40
%
to
1.58%
17.61
 %
to
20.16%
Hartford Total Return Bond HLS Fund
 
2017
17,106,316

$12.668770

to
$14.462344
$106,990,942
0.50
%
to
2.80%
2.73
%
to
2.88%
2.18
 %
to
4.12%
 
2016
18,329,294

$12.398507

to
$13.890160
$111,466,608
0.50
%
to
2.80%
2.24
%
to
2.59%
1.34
 %
to
3.97%
 
2015
21,485,983

$12.234802

to
$13.359427
$125,304,643
0.50
%
to
2.80%
3.05
%
to
3.08%
(3.55
)%
to
(1.08)%
 
2014
25,293,527

$12.685130

to
$13.505685
$145,425,752
0.50
%
to
2.80%
2.95
%
to
3.26%
2.76
 %
to
5.36%
 
2013
28,918,085

$12.343982

to
$12.818679
$154,892,749
0.50
%
to
2.80%
3.65
%
to
4.09%
(4.37
)%
to
(1.86)%
Hartford Capital Appreciation HLS Fund
 
2017
10,616,645

$26.315740

to
$27.360064
$106,815,563
0.50
%
to
2.80%
0.15
%
to
0.15%
13.73
 %
to
15.91%
 
2016
12,087,633

$23.139746

to
$23.605269
$109,530,012
0.50
%
to
2.80%
0.86
%
to
1.13%
2.34
 %
to
5.00%
 
2015
14,077,134

$22.482246

to
$22.611663
$122,216,277
0.50
%
to
2.80%
0.66
%
to
0.90%
(2.00
)%
to
0.51%
 
2014
17,021,067

$22.367476

to
$23.072403
$145,554,664
0.50
%
to
2.80%
0.62
%
to
0.91%
4.08
 %
to
6.77%
 
2013
20,021,826

$20.948870

to
$22.167748
$156,772,819
0.50
%
to
2.80%
0.66
%
to
0.91%
34.89
 %
to
38.39%
Hartford Dividend and Growth HLS Fund
 
2017
7,500,281

$24.267186

to
$28.657474
$78,514,054
0.50
%
to
2.80%
%
to
—%
9.05
 %
to
11.16%
 
2016
8,617,177

$22.253982

to
$25.780508
$84,569,750
0.50
%
to
2.80%
1.71
%
to
2.06%
11.42
 %
to
14.31%
 
2015
10,083,636

$19.973005

to
$22.552591
$87,476,243
0.50
%
to
2.80%
1.54
%
to
1.84%
(4.13
)%
to
(1.65)%
 
2014
12,201,452

$20.897634

to
$22.930999
$104,686,058
0.50
%
to
2.75%
1.60
%
to
1.89%
9.63
 %
to
12.40%
 
2013
15,217,649

$19.062349

to
$20.401863
$110,603,880
0.50
%
to
2.75%
1.74
%
to
1.99%
28.01
 %
to
31.27%



Hartford Healthcare HLS Fund
 
2017
13,753

$5.610148

to
$5.953763
$81,885
1.40
%
to
1.75%
%
to
—%
22.24
 %
to
22.56%
 
2016
20,225

$4.589350

to
$4.857765
$97,536
1.40
%
to
1.75%
3.33
%
to
3.36%
(10.22
)%
to
(9.91)%
 
2015
29,297

$5.111962

to
$5.392026
$157,225
1.40
%
to
1.75%
%
to
—%
11.02
 %
to
11.41%
 
2014
29,421

$4.604617

to
$4.839920
$141,771
1.40
%
to
1.75%
0.04
%
to
0.04%
24.80
 %
to
25.23%
 
2013
40,443

$3.689662

to
$3.864674
$155,832
1.40
%
to
1.75%
0.24
%
to
0.30%
48.87
 %
to
49.39%
Hartford Global Growth HLS Fund
 
2017
185,705

$13.618443

to
$29.081703
$976,840
0.50
%
to
2.75%
0.27
%
to
0.53%
22.64
 %
to
24.98%
 
2016
237,517

$11.104106

to
$23.269366
$903,875
0.50
%
to
2.75%
0.13
%
to
0.68%
(1.05
)%
to
1.44%
 
2015
257,455

$11.221450

to
$22.938184
$1,034,183
0.50
%
to
2.75%
0.29
%
to
0.53%
4.84
 %
to
7.50%
 
2014
262,710

$10.703557

to
$11.985136
$880,101
1.25
%
to
2.75%
0.25
%
to
0.46%
5.46
 %
to
7.04%
 
2013
203,091

$11.364381

to
$20.976608
$691,385
1.25
%
to
2.40%
0.60
%
to
0.76%
33.07
 %
to
34.60%
Hartford Disciplined Equity HLS Fund
 
2017
621,813

$28.319854

to
$31.502870
$11,563,945
0.50
%
to
2.70%
%
to
—%
10.95
 %
to
12.78%
 
2016
684,441

$25.525292

to
$27.932790
$11,480,135
0.50
%
to
2.70%
0.17
%
to
0.97%
2.94
 %
to
5.23%
 
2015
780,338

$24.795574

to
$26.543868
$12,535,282
0.50
%
to
2.70%
0.79
%
to
4.27%
3.99
 %
to
6.30%
 
2014
966,060

$17.539302

to
$23.844431
$14,807,260
0.85
%
to
2.70%
0.11
%
to
0.73%
13.09
 %
to
15.20%
 
2013
1,101,018

$15.225344

to
$21.085043
$14,667,571
0.85
%
to
2.70%
0.96
%
to
1.00%
32.20
 %
to
34.67%
Hartford Growth Opportunities HLS Fund
 
2017
1,239,351

$31.157659

to
$34.682263
$24,648,155
0.50
%
to
2.75%
%
to
—%
21.38
 %
to
23.43%
 
2016
1,435,786

$25.668615

to
$28.097800
$23,340,974
0.50
%
to
2.75%
0.43
%
to
0.43%
(3.19
)%
to
(0.99)%
 
2015
1,788,705

$26.514567

to
$28.377928
$29,530,340
0.50
%
to
2.75%
0.13
%
to
0.13%
8.71
 %
to
11.18%
 
2014
2,294,100

$24.391204

to
$25.524668
$34,568,919
0.50
%
to
2.75%
0.17
%
to
0.18%
11.05
 %
to
13.57%
 
2013
2,491,105

$22.020532

to
$22.473877
$33,470,814
0.50
%
to
2.70%
0.01
%
to
0.01%
32.13
 %
to
35.07%
Hartford High Yield HLS Fund
 
2017
409,013

$21.034541

to
$21.864678
$6,801,747
0.50
%
to
2.70%
3.05
%
to
6.04%
4.69
 %
to
6.42%
 
2016
455,559

$19.765540

to
$20.885096
$7,253,753
0.50
%
to
2.70%
6.03
%
to
6.05%
11.21
 %
to
13.68%
 
2015
523,035

$17.386940

to
$18.780286
$7,448,045
0.50
%
to
2.70%
5.92
%
to
6.62%
(6.85
)%
to
(4.78)%
 
2014
570,252

$18.260110

to
$20.162328
$8,624,985
0.50
%
to
2.70%
7.29
%
to
7.77%
(0.15
)%
to
2.07%
 
2013
635,510

$17.890402

to
$20.193484
$9,349,739
0.50
%
to
2.70%
8.00
%
to
8.20%
3.60
 %
to
5.90%
Hartford International Opportunities HLS Fund
 
2017
1,128,968

$18.927023

to
$20.473826
$7,457,258
0.50
%
to
2.75%
1.17
%
to
1.45%
18.24
 %
to
20.43%
 
2016
1,204,232

$12.016012

to
$16.007910
$6,723,023
0.30
%
to
2.75%
%
to
0.95%
(1.80
)%
to
0.64%
 
2015
1,427,251

$16.300812

to
$16.874218
$7,595,342
0.50
%
to
2.75%
1.16
%
to
1.50%
(1.11
)%
to
1.37%
 
2014
1,596,986

$11.780937

to
$16.483110
$8,200,250
0.30
%
to
2.75%
%
to
1.96%
(6.74
)%
to
(4.43)%
 
2013
2,001,900

$12.326828

to
$17.674881
$9,647,494
0.30
%
to
2.75%
1.94
%
to
2.41%
17.99
 %
to
20.91%
Hartford Small/Mid Cap Equity HLS Fund
 
2017
64,086

$19.861730

to
$29.414414
$1,259,363
0.85
%
to
2.75%
0.62
%
to
1.12%
5.89
 %
to
7.64%
 
2016
89,432

$18.452482

to
$27.778644
$1,675,453
0.85
%
to
2.75%
%
to
1.43%
13.18
 %
to
15.50%
 
2015
102,012

$15.976238

to
$25.068396
$1,650,963
0.85
%
to
2.70%
0.95
%
to
1.24%
(7.27
)%
to
(5.54)%
 
2014
122,007

$16.913383

to
$27.034635
$2,087,497
0.85
%
to
2.70%
1.58
%
to
1.59%
2.42
 %
to
4.33%
 
2013
154,328

$16.210977

to
$26.395817
$2,486,980
0.85
%
to
2.70%
1.37
%
to
1.56%
33.85
 %
to
36.35%
Hartford MidCap HLS Fund
 
2017
84,564

$9.063404

to
$9.063404
$766,438
1.40
%
to
1.40%
%
to
—%
14.44
 %
to
14.44%
 
2016
89,461

$7.919670

to
$7.919670
$708,498
1.40
%
to
1.40%
0.03
%
to
0.03%
10.14
 %
to
10.14%
 
2015
124,922

$7.190783

to
$7.190783
$898,288
1.40
%
to
1.40%
0.08
%
to
0.08%
(0.07
)%
to
(0.07)%



 
2014
157,710

$7.035554

to
$7.195953
$1,131,916
1.40
%
to
1.55%
%
to
—%
9.38
 %
to
9.55%
 
2013
172,064

$6.431994

to
$6.568778
$1,127,729
1.40
%
to
1.55%
0.02
%
to
0.02%
37.31
 %
to
37.52%
Hartford MidCap Value HLS Fund
 
2017
26,050

$3.165203

to
$20.021204
$329,250
1.40
%
to
2.75%
0.32
%
to
0.32%
5.92
 %
to
6.99%
 
2016
33,243

$2.958388

to
$18.902209
$416,875
1.40
%
to
2.75%
%
to
0.31%
9.50
 %
to
10.99%
 
2015
65,761

$2.665391

to
$17.549879
$471,761
1.40
%
to
2.45%
0.30
%
to
0.33%
(3.83
)%
to
(2.82)%
 
2014
85,552

$2.742662

to
$27.925632
$632,544
1.40
%
to
2.50%
0.42
%
to
0.46%
5.24
 %
to
6.41%
 
2013
125,236

$2.577505

to
$26.534299
$607,498
1.40
%
to
2.50%
0.54
%
to
1.00%
31.05
 %
to
32.50%
Hartford Ultrashort Bond HLS Fund
 
2017
46,955,839

$7.894192

to
$9.905525
$51,396,045
0.30
%
to
2.80%
0.51
%
to
0.55%
(1.39
)%
to
0.48%
 
2016
52,018,282

$8.005703

to
$9.858641
$57,724,555
0.30
%
to
2.80%
0.15
%
to
0.16%
(2.13
)%
to
0.34%
 
2015
59,547,994

$8.180333

to
$9.706359
$66,818,100
0.50
%
to
2.80%
%
to
0.32%
(2.85
)%
to
(0.37)%
 
2014
76,823,463

$8.420257

to
$9.742603
$86,508,863
0.50
%
to
2.80%
%
to
—%
(2.86
)%
to
(0.40)%
 
2013
106,805,182

$8.668057

to
$9.781671
$121,724,972
0.50
%
to
2.80%
%
to
—%
(2.86
)%
to
(0.50)%
Hartford Small Company HLS Fund
 
2017
644,764

$24.718024

to
$28.151276
$2,742,128
0.50
%
to
2.80%
%
to
—%
16.22
 %
to
18.43%
 
2016
696,045

$21.267803

to
$23.769976
$2,725,976
0.50
%
to
2.80%
%
to
—%
(1.01
)%
to
1.54%
 
2015
766,328

$21.483957

to
$23.410469
$3,177,827
0.50
%
to
2.80%
%
to
—%
(10.98
)%
to
(8.67)%
 
2014
896,294

$24.207225

to
$25.632868
$4,037,360
0.50
%
to
2.75%
%
to
—%
3.95
 %
to
6.54%
 
2013
1,147,217

$23.286857

to
$24.059989
$4,973,222
0.50
%
to
2.75%
%
to
—%
40.07
 %
to
43.66%
Hartford SmallCap Growth HLS Fund
 
2017
76,560

$24.141452

to
$27.083037
$1,519,556
1.25
%
to
2.45%
0.04
%
to
0.05%
13.72
 %
to
14.74%
 
2016
69,179

$21.228904

to
$23.603716
$1,160,861
1.25
%
to
2.45%
0.15
%
to
0.15%
9.65
 %
to
10.98%
 
2015
74,024

$19.359825

to
$21.268837
$914,747
1.25
%
to
2.45%
0.06
%
to
0.07%
(2.95
)%
to
(1.78)%
 
2014
94,084

$19.949186

to
$21.654810
$1,293,400
1.25
%
to
2.45%
0.02
%
to
0.07%
3.27
 %
to
4.52%
 
2013
118,401

$19.316921

to
$21.207706
$1,951,842
0.85
%
to
2.45%
0.39
%
to
0.60%
41.37
 %
to
43.65%
Hartford Stock HLS Fund
 
2017
3,104,630

$19.744603

to
$26.879085
$6,819,179
0.85
%
to
2.75%
0.06
%
to
0.06%
10.82
 %
to
12.61%
 
2016
3,387,031

$17.533233

to
$24.255468
$6,634,445
0.85
%
to
2.75%
1.82
%
to
1.90%
4.23
 %
to
6.51%
 
2015
3,972,069

$16.462260

to
$23.270296
$7,138,262
0.85
%
to
2.75%
1.79
%
to
1.83%
(0.30
)%
to
1.87%
 
2014
4,897,250

$16.159456

to
$23.339295
$8,577,560
0.85
%
to
2.75%
1.71
%
to
1.92%
8.02
 %
to
10.36%
 
2013
5,851,086

$14.641880

to
$21.605585
$9,363,607
0.85
%
to
2.75%
1.74
%
to
2.02%
28.35
 %
to
31.13%
Hartford U.S. Government Securities HLS Fund
 
2017
575,398

$9.803663

to
$11.809850
$4,687,081
0.50
%
to
2.70%
2.16
%
to
2.16%
(0.21
)%
to
1.44%
 
2016
591,593

$9.824638

to
$11.642669
$4,708,241
0.50
%
to
2.70%
1.56
%
to
1.91%
(1.16
)%
to
1.03%
 
2015
630,736

$9.616246

to
$11.523427
$4,931,918
0.50
%
to
2.45%
1.81
%
to
1.82%
(0.90
)%
to
1.06%
 
2014
677,875

$9.703192

to
$11.403055
$5,307,328
0.50
%
to
2.45%
2.27
%
to
2.78%
0.33
 %
to
2.30%
 
2013
754,440

$9.671617

to
$11.146482
$5,890,729
0.50
%
to
2.45%
2.27
%
to
2.28%
(4.06
)%
to
(2.17)%
Hartford Value HLS Fund
 
2017
109,046

$16.403674

to
$27.025025
$1,273,672
0.50
%
to
2.45%
0.15
%
to
0.15%
7.22
 %
to
8.79%
 
2016
122,918

$15.299496

to
$24.842421
$1,382,086
0.50
%
to
2.45%
1.77
%
to
1.81%
10.94
 %
to
13.13%
 
2015
137,005

$13.790522

to
$21.959894
$1,410,659
0.50
%
to
2.45%
1.58
%
to
1.58%
(5.43
)%
to
(3.56)%
 
2014
167,091

$21.064438

to
$22.771698
$1,928,639
0.50
%
to
2.70%
%
to
1.48%
8.40
 %
to
10.81%
 
2013
177,746

$13.418558

to
$20.550139
$1,855,273
0.50
%
to
2.45%
1.69
%
to
1.76%
28.75
 %
to
31.28%
Rational Dividend Capture VA Fund+
 
2017
666,269

$20.086068

to
$21.502103
$3,409,781
0.50
%
to
2.75%
3.31
%
to
3.32%
(4.58
)%
to
(2.96)%



 
2016
716,440

$21.050591

to
$22.157222
$3,991,887
0.50
%
to
2.75%
4.42
%
to
4.73%
4.07
 %
to
6.43%
 
2015
919,469

$20.227894

to
$20.817629
$4,608,990
0.50
%
to
2.75%
4.21
%
to
4.30%
(5.69
)%
to
(3.54)%
 
2014
1,488,705

$21.447710

to
$21.581635
$8,928,843
0.50
%
to
2.75%
3.70
%
to
5.21%
7.17
 %
to
9.61%
 
2013
2,068,011

$19.689337

to
$20.012231
$9,743,486
0.50
%
to
2.75%
3.00
%
to
3.60%
16.71
 %
to
19.36%
Rational Insider Buying VA Fund+
 
2017
1,261,951

$2.013920

to
$26.999738
$3,477,623
0.50
%
to
2.50%
0.53
%
to
0.57%
8.13
 %
to
9.76%
 
2016
1,453,799

$1.862571

to
$24.598765
$3,742,389
0.50
%
to
2.50%
0.61
%
to
0.64%
8.26
 %
to
10.45%
 
2015
1,842,192

$1.720408

to
$22.271358
$4,353,545
0.50
%
to
2.50%
0.56
%
to
0.57%
(9.46
)%
to
(7.63)%
 
2014
2,898,810

$1.900179

to
$24.110995
$7,599,317
0.50
%
to
2.50%
0.30
%
to
0.35%
(4.48
)%
to
(2.55)%
 
2013
2,405,150

$1.989341

to
$24.742397
$6,269,556
0.50
%
to
2.50%
0.21
%
to
0.33%
28.67
 %
to
31.26%
Lord Abbett Fundamental Equity Fund
 
2017
62,809

$18.700917

to
$22.832840
$1,367,462
0.50
%
to
1.50%
%
to
—%
5.60
 %
to
6.40%
 
2016
69,743

$17.709076

to
$21.460226
$1,432,057
0.50
%
to
1.50%
1.14
%
to
1.20%
14.02
 %
to
15.17%
 
2015
87,998

$15.531399

to
$18.634025
$1,564,491
0.50
%
to
1.50%
1.08
%
to
1.19%
(4.88
)%
to
(3.93)%
 
2014
93,914

$16.328531

to
$19.395320
$1,740,888
0.50
%
to
1.50%
0.46
%
to
0.46%
5.55
 %
to
6.61%
 
2013
102,882

$15.470435

to
$18.193259
$1,788,586
0.50
%
to
1.50%
0.03
%
to
0.23%
33.74
 %
to
35.08%
Lord Abbett Calibrated Dividend Growth Fund
 
2017
150,259

$20.820923

to
$23.318893
$2,941,862
0.85
%
to
2.70%
%
to
—%
8.37
 %
to
9.89%
 
2016
183,230

$18.947640

to
$21.517417
$3,283,453
0.85
%
to
2.70%
1.15
%
to
2.46%
12.04
 %
to
14.13%
 
2015
223,166

$16.602197

to
$19.205816
$3,520,410
0.85
%
to
2.70%
1.48
%
to
1.69%
(4.74
)%
to
(2.96)%
 
2014
305,569

$17.108718

to
$20.161583
$5,109,504
0.85
%
to
2.70%
1.52
%
to
1.57%
8.57
 %
to
10.60%
 
2013
361,384

$15.469389

to
$18.569944
$5,644,241
0.85
%
to
2.70%
1.38
%
to
1.52%
24.52
 %
to
26.84%
Lord Abbett Bond Debenture Fund
 
2017
560,206

$18.480587

to
$19.677203
$9,765,890
0.50
%
to
2.70%
%
to
—%
5.30
 %
to
7.05%
 
2016
567,672

$17.263252

to
$18.687005
$9,315,754
0.50
%
to
2.70%
4.46
%
to
6.07%
9.15
 %
to
11.57%
 
2015
686,625

$15.472419

to
$17.120902
$10,198,325
0.50
%
to
2.70%
1.87
%
to
4.61%
(4.15
)%
to
(2.02)%
 
2014
805,425

$15.791694

to
$17.862911
$12,336,779
0.50
%
to
2.70%
4.38
%
to
4.78%
1.57
 %
to
3.83%
 
2013
908,072

$15.209739

to
$17.587280
$13,507,408
0.50
%
to
2.70%
3.67
%
to
5.13%
5.29
 %
to
7.63%
Lord Abbett Growth and Income Fund
 
2017
102,845

$21.964385

to
$22.215610
$1,640,969
0.50
%
to
2.40%
%
to
—%
5.21
 %
to
6.72%
 
2016
116,670

$20.817381

to
$20.877488
$1,754,696
0.50
%
to
2.40%
1.41
%
to
1.47%
14.34
 %
to
16.53%
 
2015
141,073

$13.235429

to
$18.259686
$1,843,008
1.25
%
to
2.40%
0.37
%
to
1.04%
(5.17
)%
to
(4.07)%
 
2014
215,371

$12.711398

to
$13.796996
$3,120,851
1.25
%
to
2.45%
0.15
%
to
0.66%
5.05
 %
to
6.32%
 
2013
322,481

$12.100599

to
$12.977394
$4,816,754
1.25
%
to
2.45%
0.57
%
to
1.56%
32.61
 %
to
34.21%
MFS® Growth Fund
 
2017
1,588,263

$29.755021

to
$32.357565
$27,731,191
0.30
%
to
2.80%
%
to
0.11%
20.80
 %
to
22.85%
 
2016
1,900,666

$24.631996

to
$26.339016
$26,796,913
0.30
%
to
2.80%
%
to
0.04%
(0.39
)%
to
1.87%
 
2015
2,204,305

$24.727335

to
$25.520887
$30,701,151
0.50
%
to
2.80%
%
to
0.21%
4.59
 %
to
6.77%
 
2014
2,279,203

$23.642338

to
$23.903523
$30,022,513
0.50
%
to
2.80%
%
to
0.11%
5.94
 %
to
8.14%
 
2013
2,873,997

$22.103748

to
$22.317418
$35,800,328
0.50
%
to
2.80%
0.13
%
to
0.23%
33.08
 %
to
35.81%
MFS® Global Equity Fund
 
2017
202,816

$24.422016

to
$31.957097
$5,151,392
0.85
%
to
2.70%
0.80
%
to
0.83%
16.46
 %
to
18.07%
 
2016
218,763

$20.970437

to
$27.065192
$4,771,582
0.85
%
to
2.70%
0.94
%
to
0.96%
4.49
 %
to
6.44%
 
2015
246,746

$20.069905

to
$25.428183
$5,128,324
0.85
%
to
2.70%
1.01
%
to
1.15%
(4.04
)%
to
(2.25)%
 
2014
294,014

$20.914881

to
$26.012901
$6,312,544
0.85
%
to
2.70%
0.69
%
to
0.84%
1.11
 %
to
2.99%
 
2013
384,428

$18.124901

to
$25.256535
$8,069,294
0.85
%
to
2.55%
%
to
0.79%
24.60
 %
to
26.73%



MFS® Investors Trust Fund
 
2017
2,678,550

$19.171398

to
$24.275778
$48,639,154
1.15
%
to
2.80%
0.55
%
to
0.73%
13.37
 %
to
14.58%
 
2016
3,098,037

$16.584360

to
$21.413220
$49,243,607
1.25
%
to
2.80%
0.53
%
to
0.86%
5.59
 %
to
6.97%
 
2015
3,654,707

$15.503770

to
$20.279694
$54,485,307
1.25
%
to
2.80%
0.69
%
to
0.92%
(2.55
)%
to
(1.29)%
 
2014
4,597,367

$15.706113

to
$20.810395
$69,771,301
1.25
%
to
2.80%
0.76
%
to
0.95%
7.94
 %
to
9.34%
 
2013
6,054,205

$14.365075

to
$19.279366
$84,388,804
1.25
%
to
2.80%
0.96
%
to
1.05%
28.41
 %
to
30.10%
MFS® Mid Cap Growth Fund
 
2017
1,370,429

$12.004198

to
$32.044497
$14,726,018
0.85
%
to
2.75%
0.12
%
to
0.13%
18.27
 %
to
19.96%
 
2016
1,572,628

$10.007009

to
$27.093650
$14,169,737
0.85
%
to
2.75%
%
to
—%
2.06
 %
to
4.02%
 
2015
2,271,225

$9.620047

to
$26.545633
$19,659,627
0.85
%
to
2.75%
%
to
—%
1.77
 %
to
3.73%
 
2014
2,268,798

$9.274418

to
$26.082856
$19,245,205
0.85
%
to
2.75%
%
to
—%
5.91
 %
to
7.94%
 
2013
2,697,012

$8.592141

to
$24.627585
$21,488,201
0.85
%
to
2.75%
%
to
—%
33.99
 %
to
36.56%
MFS® New Discovery Fund
 
2017
1,300,657

$16.851742

to
$34.750409
$30,855,598
0.65
%
to
2.80%
%
to
—%
16.27
 %
to
17.94%
 
2016
1,483,583

$14.288949

to
$29.888778
$30,037,343
0.65
%
to
2.80%
%
to
—%
6.04
 %
to
8.09%
 
2015
1,738,459

$13.219046

to
$28.186188
$32,932,634
0.65
%
to
2.80%
%
to
—%
(4.60
)%
to
(2.78)%
 
2014
2,233,899

$13.596976

to
$29.543884
$44,234,490
0.65
%
to
2.80%
%
to
—%
(9.82
)%
to
(8.09)%
 
2013
2,871,838

$14.794347

to
$32.844644
$61,957,861
0.65
%
to
2.75%
%
to
—%
37.68
 %
to
40.30%
MFS® Total Return Fund
 
2017
7,155,188

$18.124255

to
$20.203163
$147,776,133
0.50
%
to
2.75%
2.21
%
to
2.41%
6.37
 %
to
7.98%
 
2016
8,086,822

$17.039000

to
$18.710636
$155,634,755
0.50
%
to
2.75%
2.68
%
to
2.79%
6.14
 %
to
8.27%
 
2015
9,407,888

$16.053954

to
$17.281075
$168,891,338
0.50
%
to
2.75%
2.39
%
to
2.71%
(3.07
)%
to
(1.08)%
 
2014
12,236,910

$16.563028

to
$17.468930
$223,847,629
0.50
%
to
2.75%
1.72
%
to
1.91%
5.56
 %
to
7.70%
 
2013
15,615,193

$15.691254

to
$16.220544
$268,989,737
0.50
%
to
2.75%
1.64
%
to
2.00%
15.82
 %
to
18.15%
MFS® Value Fund
 
2017
2,328,429

$24.565866

to
$27.817681
$61,709,318
0.30
%
to
2.80%
%
to
1.95%
9.77
 %
to
11.62%
 
2016
2,651,324

$22.379369

to
$24.922682
$63,152,998
0.30
%
to
2.80%
%
to
2.08%
10.94
 %
to
13.43%
 
2015
3,165,663

$20.172589

to
$21.687103
$66,887,253
0.50
%
to
2.80%
2.11
%
to
2.31%
(3.48
)%
to
(1.43)%
 
2014
3,800,607

$20.899410

to
$22.001303
$82,955,423
0.50
%
to
2.80%
1.30
%
to
1.52%
7.46
 %
to
9.65%
 
2013
4,737,281

$19.448755

to
$20.064557
$96,244,644
0.50
%
to
2.80%
0.98
%
to
1.69%
32.14
 %
to
34.92%
MFS® Total Return Bond Series
 
2017
5,312,943

$13.012675

to
$14.152641
$74,553,471
0.50
%
to
2.80%
3.12
%
to
3.41%
1.68
 %
to
3.24%
 
2016
5,749,097

$12.797583

to
$13.708924
$78,599,528
0.50
%
to
2.80%
3.22
%
to
3.40%
1.36
 %
to
3.49%
 
2015
6,505,496

$12.626347

to
$13.246484
$86,674,926
0.50
%
to
2.80%
3.22
%
to
3.45%
(3.06
)%
to
(1.08)%
 
2014
7,654,111

$13.024355

to
$13.390681
$104,151,511
0.50
%
to
2.80%
2.61
%
to
2.94%
2.92
 %
to
5.09%
 
2013
9,445,216

$12.654375

to
$12.741841
$123,654,533
0.50
%
to
2.80%
1.11
%
to
1.68%
(3.77
)%
to
(1.78)%
MFS® Research Fund
 
2017
176,860

$25.379535

to
$26.462157
$3,981,772
0.85
%
to
2.75%
1.38
%
to
1.39%
14.23
 %
to
15.86%
 
2016
185,876

$21.905803

to
$23.165645
$3,649,101
0.85
%
to
2.75%
0.76
%
to
0.79%
5.79
 %
to
7.82%
 
2015
216,688

$20.317840

to
$21.898439
$3,977,640
0.85
%
to
2.75%
0.52
%
to
0.73%
(1.93
)%
to
(0.05)%
 
2014
301,257

$20.327821

to
$22.329543
$5,573,469
0.85
%
to
2.75%
%
to
0.82%
7.21
 %
to
9.27%
 
2013
324,638

$16.078705

to
$18.603416
$5,542,668
0.85
%
to
2.50%
0.32
%
to
0.33%
29.02
 %
to
31.17%
MFS® High Yield Portfolio
 
2017
2,560,103

$11.200770

to
$12.171524
$29,913,769
0.85
%
to
2.80%
6.01
%
to
6.49%
4.29
 %
to
5.82%
 
2016
2,755,806

$10.740269

to
$11.501580
$30,652,921
0.85
%
to
2.80%
6.73
%
to
6.75%
10.68
 %
to
12.86%
 
2015
3,201,384

$9.703703

to
$10.190929
$31,860,609
0.85
%
to
2.80%
7.11
%
to
7.11%
(6.86
)%
to
(5.03)%



 
2014
4,054,245

$10.418731

to
$10.730506
$42,882,934
0.85
%
to
2.80%
4.75
%
to
5.44%
(0.03
)%
to
1.94%
 
2013
5,186,327

$10.422041

to
$10.526650
$54,331,348
0.85
%
to
2.80%
2.42
%
to
2.42%
4.22
 %
to
5.27%
BlackRock Global Allocation V.I. Fund
 
2017
17,075

$13.457308

to
$13.505545
$229,163
0.50
%
to
0.75%
0.42
%
to
0.42%
10.31
 %
to
10.52%
 
2016
16,468

$11.552461

to
$12.220278
$200,285
0.50
%
to
1.45%
%
to
1.27%
2.31
 %
to
3.29%
 
2015
23,105

$11.291541

to
$11.831361
$270,210
0.50
%
to
1.45%
0.92
%
to
1.05%
(2.43
)%
to
(1.49)%
 
2014
24,332

$11.572322

to
$12.010881
$289,987
0.50
%
to
1.45%
1.89
%
to
2.25%
0.46
 %
to
1.42%
 
2013
19,169

$11.842252

to
$11.910946
$227,327
0.50
%
to
0.75%
1.07
%
to
1.86%
13.56
 %
to
13.85%
BlackRock Global Opportunities V.I. Fund
 
2017
2,009

$20.202423

to
$20.457202
$40,729
2.00
%
to
2.45%
%
to
—%
19.08
 %
to
19.48%
 
2016
2,138

$16.965646

to
$17.122152
$36,378
2.00
%
to
2.45%
1.89
%
to
2.05%
1.08
 %
to
1.54%
 
2015
2,286

$16.784034

to
$16.862821
$38,427
2.00
%
to
2.45%
0.98
%
to
1.11%
(1.72
)%
to
(1.28)%
 
2014
2,089

$17.078460

to
$17.081562
$35,672
2.00
%
to
2.45%
1.16
%
to
1.27%
(6.47
)%
to
(6.05)%
 
2013
1,865

$18.181762

to
$18.260509
$34,025
2.00
%
to
2.45%
0.34
%
to
0.36%
26.64
 %
to
27.21%
BlackRock Large Cap Focus Growth V.I. Fund+
 
2017
17,953

$18.435269

to
$29.775337
$393,029
1.75
%
to
2.45%
%
to
—%
18.39
 %
to
19.01%
 
2016
23,745

$15.491046

to
$25.150778
$443,860
1.75
%
to
2.45%
0.76
%
to
1.07%
5.27
 %
to
6.01%
 
2015
25,661

$14.612422

to
$23.890870
$445,990
1.75
%
to
2.45%
0.45
%
to
0.57%
0.24
 %
to
0.95%
 
2014
26,734

$14.475438

to
$23.833152
$461,428
1.75
%
to
2.45%
0.54
%
to
0.56%
11.40
 %
to
12.18%
 
2013
28,927

$12.903287

to
$15.196385
$439,153
1.75
%
to
2.15%
0.49
%
to
0.70%
31.07
 %
to
31.60%
BlackRock Equity Dividend V.I. Fund
 
2017
36,651

$18.131193

to
$19.315296
$700,785
0.50
%
to
1.45%
0.74
%
to
0.80%
9.39
 %
to
10.17%
 
2016
40,661

$16.574538

to
$17.532485
$705,620
0.50
%
to
1.45%
1.46
%
to
1.54%
14.39
 %
to
15.48%
 
2015
50,589

$14.489678

to
$15.182254
$760,676
0.50
%
to
1.45%
1.45
%
to
1.45%
(2.25
)%
to
(1.31)%
 
2014
48,032

$14.822529

to
$15.384149
$732,802
0.50
%
to
1.45%
1.45
%
to
1.49%
7.50
 %
to
8.52%
 
2013
71,399

$13.788918

to
$14.176061
$1,005,774
0.50
%
to
1.45%
1.69
%
to
1.71%
22.33
 %
to
23.50%
Morgan Stanley VIF Core Plus Fixed Income Portfolio+
 
2017
4,013

$11.219494

to
$11.219494
$45,023
1.70
%
to
1.70%
2.92
%
to
2.92%
3.79
 %
to
3.79%
 
2016
4,051

$10.810072

to
$10.810072
$43,794
1.70
%
to
1.70%
1.67
%
to
1.67%
4.08
 %
to
4.08%
 
2015
4,119

$10.386757

to
$10.386757
$42,783
1.70
%
to
1.70%
3.22
%
to
3.22%
(2.50
)%
to
(2.50)%
 
2014
4,187

$10.653472

to
$10.653472
$44,603
1.70
%
to
1.70%
2.57
%
to
2.57%
5.75
 %
to
5.75%
 
2013
3,079

$10.073973

to
$10.073973
$31,013
1.70
%
to
1.70%
%
to
—%
0.74
 %
to
0.74%
Morgan Stanley VIF Growth Portfolio+
 
2017
14,241

$18.181750

to
$19.299440
$268,295
1.35
%
to
2.75%
%
to
—%
30.21
 %
to
31.59%
 
2016
17,208

$13.963132

to
$14.666750
$247,562
1.35
%
to
2.75%
%
to
—%
(4.58
)%
to
(3.24)%
 
2015
17,531

$14.633999

to
$15.157585
$262,035
1.35
%
to
2.75%
%
to
—%
8.93
 %
to
10.47%
 
2014
18,621

$13.434144

to
$13.721383
$253,346
1.35
%
to
2.75%
%
to
—%
3.21
 %
to
4.67%
 
2013
21,059

$13.016247

to
$13.109696
$275,252
1.35
%
to
2.75%
%
to
—%
30.16
 %
to
31.10%
Morgan Stanley VIF Mid Cap Growth Portfolio+
 
2017
85,175

$17.819507

to
$26.549462
$1,433,576
0.85
%
to
2.70%
%
to
—%
27.45
 %
to
29.23%
 
2016
99,265

$13.788729

to
$20.830859
$1,299,458
0.85
%
to
2.70%
%
to
—%
(11.27
)%
to
(9.61)%
 
2015
114,453

$15.255417

to
$23.477293
$1,673,534
0.85
%
to
2.70%
%
to
—%
(8.49
)%
to
(6.79)%
 
2014
127,397

$16.365859

to
$25.656623
$2,008,157
0.85
%
to
2.70%
%
to
—%
(0.87
)%
to
0.98%
 
2013
148,044

$16.207149

to
$25.882254
$2,321,328
0.85
%
to
2.70%
0.22
%
to
0.25%
33.83
 %
to
36.32%
Invesco V.I. American Value Fund
 
2017
59,295

$16.131665

to
$18.803418
$1,070,651
0.85
%
to
2.45%
0.53
%
to
0.60%
2.06
 %
to
3.30%



 
2016
53,924

$15.805692

to
$18.203574
$950,108
0.85
%
to
2.45%
0.12
%
to
0.12%
12.43
 %
to
14.24%
 
2015
46,583

$14.058086

to
$15.933971
$721,691
0.85
%
to
2.45%
0.01
%
to
0.01%
(11.55
)%
to
(10.13)%
 
2014
51,282

$15.894550

to
$17.729300
$888,880
0.85
%
to
2.45%
0.19
%
to
0.27%
6.83
 %
to
8.55%
 
2013
66,877

$14.878459

to
$16.332597
$1,067,146
0.85
%
to
2.45%
0.53
%
to
0.55%
30.69
 %
to
32.80%
Morgan Stanley Mid Cap Growth Portfolio+
 
2017

$14.553666

to
$16.477865
$—
1.35
%
to
2.20%
%
to
—%
25.12
 %
to
25.91%
 
2016
9,787

$11.631839

to
$13.086696
$126,671
1.35
%
to
2.20%
%
to
—%
(11.40
)%
to
(10.64)%
 
2015
8,862

$13.128552

to
$14.645554
$128,306
1.35
%
to
2.20%
%
to
—%
(8.84
)%
to
(8.06)%
 
2014
9,586

$14.401329

to
$15.929315
$151,149
1.35
%
to
2.20%
%
to
—%
(1.41
)%
to
(0.57)%
 
2013
18,343

$14.607207

to
$16.020231
$283,325
1.35
%
to
2.20%
0.06
%
to
0.06%
34.37
 %
to
35.52%
BlackRock Capital Appreciation V.I. Fund
 
2017
29,121

$17.661633

to
$18.815123
$550,597
0.50
%
to
1.45%
%
to
—%
22.28
 %
to
23.15%
 
2016
36,553

$14.443338

to
$15.278228
$559,679
0.50
%
to
1.45%
%
to
—%
(1.57
)%
to
(0.63)%
 
2015
40,469

$14.673899

to
$15.375355
$624,328
0.50
%
to
1.45%
%
to
—%
5.08
 %
to
6.08%
 
2014
41,319

$13.965119

to
$14.494328
$597,189
0.50
%
to
1.45%
%
to
—%
6.99
 %
to
8.01%
 
2013
68,704

$13.052518

to
$13.419051
$919,749
0.50
%
to
1.45%
%
to
—%
31.48
 %
to
32.73%
Columbia Variable Portfolio - Asset Allocation Fund
 
2017
914,664

$1.731058

to
$19.496322
$1,895,201
1.70
%
to
2.80%
1.62
%
to
1.65%
8.32
 %
to
9.21%
 
2016
1,027,526

$1.585011

to
$17.999392
$1,929,599
1.70
%
to
2.80%
2.22
%
to
2.23%
2.45
 %
to
3.58%
 
2015
1,615,330

$1.530186

to
$17.569038
$2,685,616
1.70
%
to
2.80%
2.01
%
to
2.07%
(1.72
)%
to
(0.64)%
 
2014
1,975,569

$1.390229

to
$1.539994
$3,266,714
1.70
%
to
2.50%
2.27
%
to
2.50%
7.33
 %
to
8.19%
 
2013
2,523,886

$1.295289

to
$1.423392
$3,713,728
1.70
%
to
2.50%
2.39
%
to
2.43%
15.25
 %
to
16.18%
Columbia Variable Portfolio - Dividend Opportunity Fund
 
2017
497,234

$13.911635

to
$14.929387
$7,214,939
1.70
%
to
2.80%
%
to
—%
6.07
 %
to
6.95%
 
2016
552,896

$13.115961

to
$13.959804
$7,528,292
1.70
%
to
2.80%
%
to
—%
10.53
 %
to
11.75%
 
2015
638,628

$11.866359

to
$12.491639
$7,817,514
1.70
%
to
2.80%
%
to
—%
(5.34
)%
to
(4.29)%
 
2014
729,017

$12.535952

to
$13.052025
$9,365,686
1.70
%
to
2.80%
%
to
—%
7.04
 %
to
8.22%
 
2013
844,488

$11.711566

to
$12.060362
$10,069,242
1.70
%
to
2.80%
%
to
—%
23.32
 %
to
24.68%
Columbia Variable Portfolio - Income Opportunities Fund
 
2017
505,675

$11.045348

to
$11.609131
$5,762,605
1.70
%
to
2.80%
6.18
%
to
6.28%
4.22
 %
to
5.08%
 
2016
551,922

$10.598072

to
$11.048118
$6,004,460
1.70
%
to
2.80%
10.70
%
to
10.87%
7.87
 %
to
9.06%
 
2015
613,284

$9.825034

to
$10.130224
$6,144,082
1.70
%
to
2.80%
9.20
%
to
9.34%
(3.73
)%
to
(2.67)%
 
2014
741,140

$10.214820

to
$10.407596
$7,660,597
1.70
%
to
2.75%
%
to
—%
1.20
 %
to
2.27%
 
2013
895,545

$10.093976

to
$10.177068
$9,087,876
1.70
%
to
2.75%
5.48
%
to
6.18%
0.94
 %
to
1.77%
Columbia Variable Portfolio - Mid Cap Growth Fund
 
2017
475,769

$14.672594

to
$15.386639
$7,167,759
1.70
%
to
2.75%
%
to
—%
14.75
 %
to
15.65%
 
2016
519,137

$12.787005

to
$13.304866
$6,786,779
1.70
%
to
2.75%
%
to
—%
(0.48
)%
to
0.57%
 
2015
600,424

$12.848975

to
$13.229680
$7,843,268
1.70
%
to
2.75%
%
to
—%
2.75
 %
to
3.84%
 
2014
708,214

$12.505029

to
$12.741041
$8,951,793
1.70
%
to
2.75%
%
to
—%
4.50
 %
to
5.60%
 
2013
828,931

$11.966406

to
$12.064865
$9,966,805
1.70
%
to
2.75%
%
to
—%
19.66
 %
to
20.65%
Oppenheimer Capital Appreciation Fund/VA
 
2017
35,265

$15.306209

to
$17.170951
$586,995
1.25
%
to
2.45%
0.01
%
to
0.01%
17.32
 %
to
18.38%
 
2016
38,555

$13.046402

to
$14.504715
$543,614
1.25
%
to
2.45%
0.11
%
to
0.12%
(4.79
)%
to
(3.64)%
 
2015
62,594

$13.703122

to
$15.052983
$925,014
1.25
%
to
2.45%
%
to
—%
0.77
 %
to
1.98%
 
2014
72,050

$14.760057

to
$22.965685
$1,049,576
1.25
%
to
2.70%
%
to
0.18%
12.06
 %
to
13.70%
 
2013
54,304

$12.104780

to
$12.981843
$697,834
1.25
%
to
2.45%
0.74
%
to
0.75%
26.30
 %
to
27.82%



Oppenheimer Global Fund/VA
 
2017
296,111

$18.549443

to
$25.572387
$5,234,873
0.85
%
to
2.70%
0.68
%
to
0.76%
24.58
 %
to
26.32%
 
2016
317,145

$14.684228

to
$20.526498
$4,470,280
0.85
%
to
2.70%
0.77
%
to
0.77%
(2.82
)%
to
(1.00)%
 
2015
400,978

$14.832940

to
$21.121837
$5,721,917
0.85
%
to
2.70%
0.94
%
to
1.06%
0.91
 %
to
2.79%
 
2014
480,986

$14.429674

to
$20.931410
$6,711,569
0.85
%
to
2.70%
0.83
%
to
0.86%
(0.66
)%
to
1.19%
 
2013
530,619

$14.259651

to
$21.071035
$7,345,651
0.85
%
to
2.70%
1.15
%
to
1.17%
23.61
 %
to
25.92%
Oppenheimer Main Street Fund®/VA+
 
2017
47,652

$17.716424

to
$20.065897
$925,546
1.15
%
to
2.45%
1.02
%
to
1.02%
12.29
 %
to
13.39%
 
2016
63,862

$17.541290

to
$24.640162
$1,126,233
1.25
%
to
2.40%
0.75
%
to
0.92%
8.66
 %
to
9.92%
 
2015
33,266

$15.958911

to
$22.676715
$544,744
1.25
%
to
2.40%
0.65
%
to
0.71%
0.66
 %
to
1.83%
 
2014
48,941

$15.672806

to
$22.120031
$771,616
1.25
%
to
2.70%
%
to
0.65%
7.46
 %
to
9.03%
 
2013
89,501

$14.374844

to
$20.901096
$1,276,256
1.25
%
to
2.40%
0.85
%
to
0.87%
28.32
 %
to
29.81%
Oppenheimer Main Street Small Cap Fund/VA
 
2017
189,976

$23.691337

to
$32.043359
$4,286,655
0.85
%
to
2.70%
0.65
%
to
0.66%
9.74
 %
to
11.27%
 
2016
222,152

$21.291496

to
$29.199890
$4,535,693
0.85
%
to
2.70%
0.25
%
to
0.25%
14.54
 %
to
16.68%
 
2015
266,731

$18.248414

to
$25.493533
$4,687,398
0.85
%
to
2.70%
0.61
%
to
0.63%
(8.60
)%
to
(6.89)%
 
2014
323,355

$19.598483

to
$27.891160
$6,129,610
0.85
%
to
2.70%
0.62
%
to
0.66%
8.68
 %
to
10.71%
 
2013
380,278

$17.702586

to
$25.663354
$6,526,667
0.85
%
to
2.70%
0.64
%
to
0.71%
36.88
 %
to
39.43%
Oppenheimer Equity Income Fund/VA+
 
2017

$13.154706

to
$14.697871
$—
1.25
%
to
2.45%
2.13
%
to
2.19%
3.64
 %
to
4.16%
 
2016
20,584

$12.692256

to
$14.110975
$284,264
1.25
%
to
2.45%
5.25
%
to
5.26%
12.34
 %
to
13.70%
 
2015
22,574

$11.297861

to
$12.410922
$274,799
1.25
%
to
2.45%
2.71
%
to
2.91%
(12.00
)%
to
(10.94)%
 
2014
24,066

$13.935715

to
$20.291605
$335,468
1.25
%
to
2.70%
%
to
1.46%
7.78
 %
to
9.35%
 
2013
19,970

$11.882762

to
$12.743814
$251,413
1.25
%
to
2.45%
1.15
%
to
1.17%
25.59
 %
to
27.11%
Putnam VT Diversified Income Fund
 
2017
841,940

$14.755197

to
$18.338889
$11,785,654
0.85
%
to
2.70%
5.49
%
to
5.56%
3.61
 %
to
5.05%
 
2016
929,770

$14.045264

to
$17.700565
$12,444,852
0.85
%
to
2.70%
7.02
%
to
7.16%
2.61
 %
to
4.53%
 
2015
1,120,054

$13.436838

to
$17.249985
$14,450,912
0.85
%
to
2.70%
9.15
%
to
9.19%
(4.94
)%
to
(3.17)%
 
2014
1,264,497

$13.876408

to
$18.147034
$16,981,470
0.85
%
to
2.70%
7.86
%
to
8.24%
(2.33
)%
to
(0.50)%
 
2013
1,465,125

$13.946422

to
$18.579157
$20,076,797
0.85
%
to
2.70%
3.08
%
to
3.24%
4.94
 %
to
6.90%
Putnam VT Global Asset Allocation Fund
 
2017
43,597

$16.936120

to
$23.087606
$725,126
1.25
%
to
2.40%
1.45
%
to
1.46%
8.64
 %
to
9.58%
 
2016
45,602

$15.454823

to
$21.250834
$694,957
1.25
%
to
2.40%
1.74
%
to
2.21%
4.18
 %
to
5.39%
 
2015
43,479

$14.664852

to
$20.397890
$631,283
1.25
%
to
2.40%
1.06
%
to
3.48%
(2.20
)%
to
(1.07)%
 
2014
32,187

$14.823677

to
$20.857346
$474,935
1.25
%
to
2.40%
2.56
%
to
5.34%
6.83
 %
to
8.06%
 
2013
62,065

$13.717537

to
$19.524199
$996,265
1.25
%
to
2.40%
2.21
%
to
2.49%
16.66
 %
to
18.01%
Putnam VT Growth Opportunities Fund
 
2017
146,814

$12.746809

to
$12.909125
$1,890,410
0.50
%
to
1.45%
0.11
%
to
0.11%
21.56
 %
to
22.43%
 
2016
184,130

$10.485674

to
$10.543823
$1,939,236
0.50
%
to
1.45%
%
to
—%
4.86
 %
to
5.44%
Putnam VT International Value Fund
 
2017
3,800

$9.976235

to
$16.606870
$37,500
1.25
%
to
2.30%
1.42
%
to
1.49%
19.50
 %
to
20.44%
 
2016
14,262

$8.283132

to
$13.897450
$114,925
1.25
%
to
2.30%
1.55
%
to
2.37%
(1.19
)%
to
(0.15)%
 
2015
22,418

$8.295657

to
$14.065519
$181,713
1.25
%
to
2.30%
1.30
%
to
1.33%
(4.23
)%
to
(3.22)%
 
2014
23,587

$8.571474

to
$14.686660
$198,254
1.25
%
to
2.30%
1.33
%
to
1.51%
(11.55
)%
to
(10.61)%
 
2013
25,866

$9.589137

to
$16.603933
$244,253
1.25
%
to
2.30%
2.39
%
to
2.52%
19.43
 %
to
20.69%
Putnam VT International Equity Fund



 
2017
30,414

$11.248582

to
$16.673983
$333,973
0.85
%
to
2.75%
0.44
%
to
2.22%
20.09
 %
to
21.82%
 
2016
32,659

$8.913224

to
$13.884178
$294,529
1.25
%
to
2.75%
3.35
%
to
3.70%
(5.10
)%
to
(3.67)%
 
2015
49,032

$9.252407

to
$14.630565
$441,289
1.25
%
to
2.75%
1.10
%
to
1.15%
(2.58
)%
to
(1.10)%
 
2014
45,974

$9.355678

to
$15.017522
$421,137
1.25
%
to
2.75%
%
to
0.89%
(9.31
)%
to
(7.94)%
 
2013
53,270

$9.446836

to
$10.162125
$576,510
1.25
%
to
2.50%
1.41
%
to
1.71%
24.91
 %
to
26.48%
Putnam VT Small Cap Value Fund
 
2017
14,673

$21.066406

to
$28.960621
$302,788
0.85
%
to
2.70%
0.15
%
to
0.70%
2.71
 %
to
4.14%
 
2016
13,471

$19.525830

to
$28.197366
$276,555
1.25
%
to
2.70%
%
to
1.05%
24.10
 %
to
25.91%
 
2015
9,883

$14.115548

to
$15.507856
$163,592
1.25
%
to
2.45%
0.83
%
to
1.05%
(6.56
)%
to
(5.43)%
 
2014
14,308

$15.106103

to
$16.398051
$274,439
1.25
%
to
2.45%
0.32
%
to
0.39%
0.93
 %
to
2.15%
 
2013
115,178

$14.966864

to
$16.053056
$2,440,595
1.25
%
to
2.45%
0.65
%
to
0.75%
36.23
 %
to
37.87%
JPMorgan Insurance Trust Core Bond Portfolio
 
2017
2,358,041

$12.302593

to
$13.033025
$33,442,432
1.25
%
to
2.40%
2.57
%
to
2.62%
1.35
 %
to
2.23%
 
2016
2,561,530

$12.138605

to
$12.748775
$35,591,635
1.25
%
to
2.40%
2.77
%
to
2.84%
(0.31
)%
to
0.85%
 
2015
3,006,288

$12.175891

to
$12.641709
$41,578,351
1.25
%
to
2.40%
3.61
%
to
3.88%
(1.28
)%
to
(0.14)%
 
2014
3,881,017

$12.333558

to
$12.659001
$53,888,162
1.25
%
to
2.40%
3.84
%
to
3.86%
2.43
 %
to
3.61%
 
2013
4,840,343

$12.040964

to
$12.217394
$65,170,524
1.25
%
to
2.40%
4.55
%
to
4.62%
(3.81
)%
to
(2.69)%
JPMorgan Insurance Trust U.S. Equity Portfolio
 
2017
177,841

$26.630292

to
$28.922051
$4,778,651
1.35
%
to
2.40%
0.88
%
to
0.90%
12.18
 %
to
13.07%
 
2016
208,022

$23.552269

to
$25.781403
$4,941,254
1.35
%
to
2.40%
1.00
%
to
1.01%
8.31
 %
to
9.45%
 
2015
251,763

$21.518700

to
$23.804022
$5,467,830
1.35
%
to
2.40%
1.14
%
to
1.14%
(1.53
)%
to
(0.49)%
 
2014
307,001

$17.827021

to
$24.173549
$6,700,919
1.25
%
to
2.40%
%
to
0.95%
11.20
 %
to
12.49%
 
2013
369,037

$19.243071

to
$21.738466
$7,175,293
1.35
%
to
2.40%
1.21
%
to
1.33%
32.99
 %
to
34.39%
JPMorgan Insurance Trust Intrepid Mid Cap Portfolio+
 
2017

$19.905020

to
$29.087587
$—
1.25
%
to
2.40%
%
to
—%
3.96
 %
to
4.45%
 
2016
225,916

$19.056887

to
$27.980930
$5,729,698
1.25
%
to
2.40%
0.73
%
to
0.75%
9.38
 %
to
10.64%
 
2015
269,373

$17.224146

to
$25.582389
$6,192,871
1.25
%
to
2.40%
0.35
%
to
0.65%
(8.10
)%
to
(7.04)%
 
2014
330,353

$18.528810

to
$27.838671
$8,187,654
1.25
%
to
2.40%
0.63
%
to
0.65%
13.12
 %
to
14.42%
 
2013
430,868

$16.193109

to
$24.610629
$9,333,904
1.25
%
to
2.40%
1.02
%
to
1.05%
37.26
 %
to
38.84%
JPMorgan Insurance Trust Mid Cap Value Portfolio
 
2017
125,615

$27.584502

to
$31.005911
$3,483,094
1.35
%
to
2.40%
0.80
%
to
0.82%
6.63
 %
to
7.48%
 
2016
147,100

$25.665526

to
$29.077072
$3,791,920
1.35
%
to
2.40%
0.87
%
to
0.87%
11.98
 %
to
13.16%
 
2015
177,496

$22.681297

to
$25.967316
$4,053,803
1.35
%
to
2.40%
0.98
%
to
1.01%
(4.96
)%
to
(3.96)%
 
2014
214,666

$18.991034

to
$27.323907
$5,113,560
1.25
%
to
2.40%
0.68
%
to
0.79%
12.38
 %
to
13.68%
 
2013
284,535

$16.705994

to
$24.314080
$6,014,616
1.25
%
to
2.40%
1.02
%
to
1.12%
29.17
 %
to
30.66%
Putnam VT Equity Income Fund
 
2017
5,061

$22.117664

to
$28.888944
$143,106
0.50
%
to
0.75%
1.70
%
to
1.71%
11.03
 %
to
11.23%
 
2016
5,229

$20.012284

to
$25.971361
$133,076
0.50
%
to
1.45%
%
to
1.79%
12.01
 %
to
13.08%
 
2015
8,387

$17.866924

to
$22.967914
$174,014
0.50
%
to
1.45%
1.60
%
to
1.61%
(4.44
)%
to
(3.53)%
 
2014
8,427

$18.696791

to
$23.807401
$182,017
0.50
%
to
1.45%
%
to
1.70%
11.04
 %
to
12.10%
 
2013
3,045

$16.413133

to
$21.237933
$63,117
0.50
%
to
0.75%
1.90
%
to
1.91%
31.43
 %
to
31.75%
PIMCO All Asset Fund
 
2017
11,338

$12.000776

to
$12.785174
$143,117
0.50
%
to
1.45%
2.53
%
to
2.54%
8.95
 %
to
9.73%
 
2016
11,674

$11.014586

to
$11.651192
$134,456
0.50
%
to
1.45%
2.35
%
to
2.53%
11.28
 %
to
12.34%
 
2015
12,237

$9.898136

to
$10.371232
$125,613
0.50
%
to
1.45%
2.22
%
to
3.12%
(10.49
)%
to
(9.64)%
 
2014
14,522

$11.058750

to
$11.477712
$165,373
0.50
%
to
1.45%
5.10
%
to
5.11%
(0.99
)%
to
(0.05)%



 
2013
14,599

$11.169440

to
$11.482988
$166,670
0.50
%
to
1.45%
4.50
%
to
4.52%
(1.33
)%
to
(0.39)%
PIMCO StocksPLUS Global Portfolio
 
2017
29,657

$13.092672

to
$13.948412
$409,431
0.50
%
to
1.45%
3.28
%
to
3.34%
15.79
 %
to
16.61%
 
2016
37,054

$11.307594

to
$11.961135
$438,441
0.50
%
to
1.45%
5.01
%
to
5.06%
6.20
 %
to
7.21%
 
2015
44,135

$10.647811

to
$11.156688
$487,826
0.50
%
to
1.45%
5.82
%
to
5.83%
(10.33
)%
to
(9.47)%
 
2014
41,924

$11.874091

to
$12.323864
$513,126
0.50
%
to
1.45%
%
to
—%
(0.55
)%
to
0.40%
 
2013
65,531

$11.939466

to
$12.274554
$799,977
0.50
%
to
1.45%
2.09
%
to
2.19%
17.48
 %
to
18.60%
PIMCO Global Multi-Asset Managed Allocation Portfolio
 
2017
786

$10.710219

to
$10.710219
$8,417
1.45
%
to
1.45%
1.51
%
to
1.51%
9.53
 %
to
9.53%
 
2016
838

$9.777967

to
$9.777967
$8,191
1.45
%
to
1.45%
2.18
%
to
2.18%
2.42
 %
to
2.42%
 
2015
1,127

$9.546608

to
$9.546608
$10,755
1.45
%
to
1.45%
1.50
%
to
1.50%
(1.69
)%
to
(1.69)%
 
2014
1,479

$9.711208

to
$9.711208
$14,359
1.45
%
to
1.45%
2.50
%
to
2.50%
3.07
 %
to
3.07%
 
2013
1,287

$9.422341

to
$9.422341
$12,126
1.45
%
to
1.45%
3.15
%
to
3.15%
(9.23
)%
to
(9.23)%
Jennison 20/20 Focus Fund
 
2017
11,125

$2.442177

to
$26.409999
$31,727
1.40
%
to
2.00%
%
to
—%
21.61
 %
to
22.16%
 
2016
15,002

$2.008202

to
$21.619448
$54,270
1.40
%
to
2.00%
%
to
—%
(0.77
)%
to
(0.18)%
 
2015
18,387

$2.023887

to
$21.657844
$85,344
1.40
%
to
2.00%
%
to
—%
3.77
 %
to
4.39%
 
2014
19,143

$1.950413

to
$20.746804
$84,887
1.40
%
to
2.00%
%
to
—%
4.59
 %
to
5.22%
 
2013
38,613

$1.864812

to
$19.717593
$144,028
1.40
%
to
2.00%
%
to
—%
26.79
 %
to
27.56%
Jennison Fund
 
2017
60,044

$1.867547

to
$15.234809
$160,408
1.40
%
to
2.35%
%
to
—%
25.15
 %
to
26.04%
 
2016
61,143

$1.492264

to
$12.087007
$133,406
1.40
%
to
2.35%
%
to
—%
(3.58
)%
to
(2.66)%
 
2015
63,080

$1.547742

to
$12.417700
$155,175
1.40
%
to
2.35%
%
to
—%
8.45
 %
to
9.49%
 
2014
65,300

$1.427132

to
$11.341760
$151,007
1.40
%
to
2.35%
%
to
—%
7.04
 %
to
8.06%
 
2013
70,640

$1.333306

to
$10.495963
$171,440
1.40
%
to
2.35%
%
to
—%
33.93
 %
to
35.21%
Prudential Value Portfolio
 
2017
9,870

$1.773996

to
$1.981401
$18,958
1.40
%
to
2.10%
%
to
—%
8.01
 %
to
8.58%
 
2016
24,960

$1.642440

to
$1.824867
$44,591
1.40
%
to
2.10%
%
to
—%
8.65
 %
to
9.41%
 
2015
27,009

$1.511691

to
$1.667869
$44,106
1.40
%
to
2.10%
%
to
—%
(10.45
)%
to
(9.82)%
 
2014
35,071

$1.688033

to
$1.849417
$63,429
1.40
%
to
2.10%
%
to
—%
7.38
 %
to
8.14%
 
2013
44,030

$1.571987

to
$1.710270
$73,096
1.40
%
to
2.10%
%
to
—%
29.78
 %
to
30.69%
Prudential SP International Growth Portfolio
 
2017
7,148

$1.229222

to
$1.387721
$9,920
1.40
%
to
2.15%
%
to
—%
27.44
 %
to
28.16%
 
2016
11,950

$0.964520

to
$1.082783
$12,396
1.40
%
to
2.15%
%
to
—%
(6.20
)%
to
(5.49)%
 
2015
12,266

$1.028283

to
$1.145724
$13,515
1.40
%
to
2.15%
%
to
—%
0.89
 %
to
1.65%
 
2014
12,584

$1.019173

to
$1.127083
$13,687
1.40
%
to
2.15%
%
to
—%
(8.12
)%
to
(7.42)%
 
2013
12,758

$1.142761

to
$1.217463
$15,201
1.40
%
to
1.90%
%
to
—%
16.28
 %
to
16.87%
ClearBridge Variable Dividend Strategy Portfolio
 
2017
1,388

$17.123955

to
$17.123955
$23,767
1.40
%
to
1.40%
0.13
%
to
0.13%
11.44
 %
to
11.44%
 
2016
1,385

$15.365722

to
$15.365722
$21,280
1.40
%
to
1.40%
1.33
%
to
1.33%
13.39
 %
to
13.39%
 
2015
1,814

$13.551233

to
$13.551233
$24,578
1.40
%
to
1.40%
1.10
%
to
1.10%
(5.63
)%
to
(5.63)%
 
2014
5,561

$14.360146

to
$14.360146
$79,854
1.40
%
to
1.40%
2.77
%
to
2.77%
12.03
 %
to
12.03%
 
2013
3,413

$12.817744

to
$12.817744
$43,742
1.40
%
to
1.40%
1.49
%
to
1.49%
24.19
 %
to
24.19%
Western Asset Variable Global High Yield Bond Portfolio
 
2017
13,829

$2.572767

to
$2.572767
$35,578
1.40
%
to
1.40%
%
to
—%
6.77
 %
to
6.77%
 
2016
14,120

$2.409606

to
$2.409606
$34,023
1.40
%
to
1.40%
4.76
%
to
4.76%
14.00
 %
to
14.00%



 
2015
20,395

$2.113727

to
$2.113727
$43,110
1.40
%
to
1.40%
6.10
%
to
6.10%
(7.15
)%
to
(7.15)%
 
2014
20,880

$2.276448

to
$2.276448
$47,531
1.40
%
to
1.40%
7.17
%
to
7.17%
(2.53
)%
to
(2.53)%
 
2013
25,701

$2.228463

to
$2.335447
$59,494
1.40
%
to
1.75%
6.01
%
to
6.02%
4.43
 %
to
4.79%
ClearBridge Variable Large Cap Value Portfolio
 
2017
274,080

$2.409970

to
$2.475133
$677,399
1.40
%
to
1.55%
0.05
%
to
0.05%
8.45
 %
to
8.57%
 
2016
291,027

$2.222184

to
$2.279705
$662,586
1.40
%
to
1.55%
1.43
%
to
1.59%
11.26
 %
to
11.43%
 
2015
336,925

$1.997233

to
$2.045867
$688,569
1.40
%
to
1.55%
1.41
%
to
1.49%
(4.36
)%
to
(4.22)%
 
2014
397,427

$2.077319

to
$2.135987
$847,877
1.40
%
to
1.60%
1.71
%
to
5.60%
9.94
 %
to
10.16%
 
2013
124,316

$1.898638

to
$1.939051
$240,740
1.40
%
to
1.55%
1.52
%
to
1.69%
30.34
 %
to
30.53%
Invesco V.I. Growth and Income Fund
 
2017
65,151

$19.576878

to
$23.438619
$1,291,630
0.85
%
to
2.75%
1.17
%
to
1.28%
6.73
 %
to
8.26%
 
2016
80,338

$18.083109

to
$21.961036
$1,494,723
0.85
%
to
2.75%
0.90
%
to
0.91%
16.19
 %
to
18.42%
 
2015
85,325

$15.270465

to
$18.900842
$1,353,083
0.85
%
to
2.75%
2.55
%
to
2.61%
(5.94
)%
to
(4.13)%
 
2014
99,844

$15.928552

to
$20.093823
$1,644,004
0.85
%
to
2.75%
1.24
%
to
1.45%
6.98
 %
to
9.03%
 
2013
119,603

$14.608687

to
$18.782197
$1,807,129
0.85
%
to
2.75%
1.23
%
to
1.29%
30.14
 %
to
32.64%
Invesco V.I. Comstock Fund
 
2017
8,479

$25.360797

to
$28.301356
$222,025
1.35
%
to
2.75%
1.99
%
to
3.01%
7.16
 %
to
8.29%
 
2016
9,115

$23.667346

to
$26.135580
$218,390
1.35
%
to
2.75%
1.33
%
to
1.34%
13.81
 %
to
15.42%
 
2015
11,161

$20.794676

to
$22.644138
$234,196
1.35
%
to
2.75%
1.02
%
to
1.69%
(8.74
)%
to
(7.45)%
 
2014
14,920

$22.786296

to
$24.467663
$344,156
1.35
%
to
2.75%
0.46
%
to
0.77%
6.14
 %
to
7.64%
 
2013
21,306

$21.467646

to
$22.731362
$461,999
1.35
%
to
2.75%
1.43
%
to
1.46%
31.98
 %
to
33.84%
Invesco V.I. American Franchise Fund
 
2017
930,730

$17.779847

to
$20.198363
$17,515,264
0.85
%
to
2.80%
0.01
%
to
0.08%
20.85
 %
to
22.63%
 
2016
991,273

$14.711905

to
$16.470522
$15,346,497
0.85
%
to
2.80%
%
to
—%
(0.56
)%
to
1.40%
 
2015
1,171,229

$14.794375

to
$16.242854
$18,063,322
0.85
%
to
2.80%
%
to
—%
2.11
 %
to
4.12%
 
2014
1,365,951

$14.489106

to
$15.600423
$20,422,512
0.85
%
to
2.80%
0.04
%
to
0.04%
5.45
 %
to
7.52%
 
2013
1,684,210

$13.759971

to
$14.509057
$23,661,515
0.85
%
to
2.75%
0.44
%
to
0.47%
36.34
 %
to
38.95%
Invesco V.I. Mid Cap Growth Fund
 
2017
175,955

$15.200447

to
$16.342449
$2,806,961
1.25
%
to
2.75%
%
to
—%
15.08
 %
to
16.19%
 
2016
194,581

$13.208587

to
$14.065558
$2,687,446
1.25
%
to
2.75%
%
to
—%
(1.98
)%
to
(0.68)%
 
2015
249,472

$13.475099

to
$14.161423
$3,480,279
1.25
%
to
2.75%
%
to
—%
(1.54
)%
to
(0.21)%
 
2014
259,838

$13.685733

to
$14.191681
$3,645,741
1.25
%
to
2.75%
%
to
—%
5.11
 %
to
6.35%
 
2013
302,812

$13.020689

to
$13.482480
$4,006,422
0.85
%
to
2.75%
0.40
%
to
0.41%
33.30
 %
to
35.86%
Wells Fargo VT Index Asset Allocation Fund
 
2017
5,113

$2.284627

to
$22.770477
$27,292
1.35
%
to
2.10%
0.65
%
to
0.65%
6.55
 %
to
7.15%
 
2016
5,133

$2.132126

to
$21.370472
$25,604
1.35
%
to
2.10%
0.88
%
to
0.89%
5.43
 %
to
6.23%
 
2015
5,176

$2.007157

to
$20.269257
$25,491
1.35
%
to
2.10%
1.03
%
to
1.03%
(0.86
)%
to
(0.11)%
 
2014
5,151

$2.009342

to
$20.444198
$25,594
1.35
%
to
2.10%
1.53
%
to
1.53%
15.61
 %
to
16.48%
 
2013
5,164

$1.725118

to
$17.684334
$22,832
1.35
%
to
2.10%
1.64
%
to
1.65%
17.15
 %
to
18.03%
Wells Fargo VT International Equity Fund
 
2017
541,755

$1.209194

to
$10.886941
$916,007
1.25
%
to
2.20%
2.93
%
to
4.40%
17.06
 %
to
17.90%
 
2016
646,667

$8.305074

to
$9.234000
$884,469
1.25
%
to
2.45%
%
to
3.71%
0.75
 %
to
1.97%
 
2015
759,073

$8.242927

to
$9.055534
$1,052,786
1.25
%
to
2.45%
3.98
%
to
4.29%
(0.18
)%
to
1.02%
 
2014
916,944

$8.257845

to
$8.963675
$1,251,584
1.25
%
to
2.45%
2.98
%
to
3.25%
(7.59
)%
to
(6.48)%
 
2013
1,080,926

$1.074273

to
$9.584438
$1,533,961
1.25
%
to
2.50%
2.31
%
to
2.31%
16.98
 %
to
18.45%
Wells Fargo VT Small Cap Growth Fund



 
2017
42,688

$21.025577

to
$21.746583
$900,480
0.65
%
to
2.50%
%
to
—%
19.17
 %
to
20.69%
 
2016
47,614

$17.361509

to
$18.018017
$841,126
0.65
%
to
2.75%
%
to
—%
5.17
 %
to
7.05%
 
2015
61,879

$16.507795

to
$16.831607
$1,040,984
0.65
%
to
2.75%
%
to
—%
(5.28
)%
to
(3.51)%
 
2014
73,196

$17.444155

to
$17.622403
$1,276,117
0.65
%
to
2.50%
%
to
—%
(4.10
)%
to
(2.51)%
 
2013
100,196

$17.893814

to
$18.376160
$1,790,728
0.65
%
to
2.50%
%
to
—%
46.84
 %
to
49.26%
Wells Fargo VT Discovery Fund
 
2017
278

$31.400567

to
$31.400567
$8,739
1.35
%
to
1.35%
%
to
—%
20.50
 %
to
20.50%
 
2016
280

$26.058826

to
$26.058826
$7,307
1.35
%
to
1.35%
%
to
—%
6.20
 %
to
6.20%
 
2015
283

$24.537066

to
$24.537066
$6,936
1.35
%
to
1.35%
%
to
—%
(2.78
)%
to
(2.78)%
 
2014
285

$25.239790

to
$25.239790
$7,188
1.35
%
to
1.35%
%
to
—%
(0.99
)%
to
(0.99)%
 
2013
287

$25.492367

to
$25.492367
$7,313
1.35
%
to
1.35%
0.01
%
to
0.01%
41.88
 %
to
41.88%
Wells Fargo VT Opportunity Fund
 
2017
335,154

$18.541957

to
$21.200693
$6,652,562
0.50
%
to
2.70%
0.92
%
to
0.94%
10.78
 %
to
12.62%
 
2016
390,053

$16.737469

to
$18.824251
$6,934,766
0.50
%
to
2.70%
2.31
%
to
2.32%
9.52
 %
to
11.96%
 
2015
485,829

$15.282108

to
$16.813490
$7,798,176
0.50
%
to
2.70%
0.40
%
to
0.40%
(5.44
)%
to
(3.33)%
 
2014
570,752

$16.160679

to
$17.392982
$9,578,830
0.50
%
to
2.70%
0.27
%
to
0.30%
7.75
 %
to
10.15%
 
2013
651,119

$14.997820

to
$15.790336
$10,026,795
0.50
%
to
2.70%
0.43
%
to
0.43%
27.51
 %
to
30.34%
HIMCO VIT Index Fund
 
2017
178,406

$9.286842

to
$30.369766
$4,551,178
0.30
%
to
1.55%
1.81
%
to
1.85%
12.45
 %
to
13.50%
 
2016
199,812

$8.258880

to
$26.757917
$4,462,379
0.30
%
to
1.55%
2.14
%
to
2.18%
9.63
 %
to
11.00%
 
2015
380,715

$7.533751

to
$24.105494
$7,346,949
0.30
%
to
1.55%
0.36
%
to
0.36%
(0.73
)%
to
0.52%
 
2014
445,505

$7.588987

to
$23.980581
$8,233,419
0.30
%
to
1.55%
%
to
—%
4.53
 %
to
5.04%
HIMCO VIT Portfolio Diversifier Fund
 
2017
4,756,879

$6.678759

to
$7.205355
$33,202,971
0.30
%
to
1.50%
1.02
%
to
1.05%
(3.89
)%
to
(3.03)%
 
2016
4,883,341

$6.949282

to
$7.430450
$35,259,019
0.30
%
to
1.50%
%
to
—%
(5.97
)%
to
(4.84)%
 
2015
5,383,368

$7.390702

to
$7.808156
$40,909,430
0.30
%
to
1.50%
0.88
%
to
0.90%
(3.35
)%
to
(2.18)%
 
2014
5,887,625

$7.646781

to
$7.982319
$45,971,154
0.30
%
to
1.50%
0.16
%
to
0.16%
(1.71
)%
to
(1.21)%
HIMCO VIT American Funds Asset Allocation Fund
 
2017
551,721

$21.160710

to
$23.719496
$9,452,840
0.50
%
to
2.70%
1.38
%
to
1.41%
10.20
 %
to
12.02%
 
2016
703,450

$19.202463

to
$21.174688
$10,994,667
0.50
%
to
2.70%
2.57
%
to
2.58%
6.20
 %
to
8.57%
 
2015
809,331

$18.080606

to
$19.503864
$11,936,057
0.50
%
to
2.70%
1.19
%
to
1.48%
(1.58
)%
to
0.61%
 
2014
968,395

$18.370397

to
$19.385213
$14,244,987
0.50
%
to
2.70%
%
to
—%
0.71
 %
to
1.71%
HIMCO VIT American Funds Blue Chip Income and Growth Fund
 
2017
301,735

$24.906394

to
$28.927889
$5,554,291
0.30
%
 
2.70%
%
 
2.10%
6.71
 %
 
8.64%
 
2016
339,197

$23.339640

to
$26.627915
$5,834,754
0.30
%
 
2.70%
%
 
2.42%
15.31
 %
 
18.11%
 
2015
373,850

$20.241470

to
$22.545865
$5,481,238
0.30
%
 
2.70%
%
 
2.67%
(5.88
)%
 
(3.59)%
 
2014
541,025

$21.505458

to
$23.129642
$8,277,687
0.50
%
 
2.70%
%
 
—%
4.60
 %
 
5.61%
HIMCO VIT American Funds Bond Fund
 
2017
1,919,088

$11.742786

to
$13.039951
$21,572,982
0.50
%
to
2.70%
1.53
%
to
1.60%
1.17
 %
to
2.84%
 
2016
2,009,419

$11.606782

to
$12.679373
$22,126,930
0.50
%
to
2.70%
3.31
%
to
3.45%
(0.08
)%
to
2.14%
 
2015
2,302,388

$11.615955

to
$12.413281
$25,074,597
0.50
%
to
2.70%
1.77
%
to
1.79%
(2.72
)%
to
(0.56)%
 
2014
2,607,898

$11.940819

to
$12.482760
$28,842,823
0.50
%
to
2.70%
%
to
—%
(0.24
)%
to
0.75%
HIMCO VIT American Funds Global Bond Fund
 
2017
192,541

$10.891792

to
$12.100776
$2,125,403
0.50
%
to
2.70%
0.02
%
to
0.29%
4.15
 %
to
5.87%
 
2016
195,130

$10.457762

to
$11.429702
$2,047,315
0.50
%
to
2.70%
1.25
%
to
1.48%
(0.33
)%
to
1.89%
 
2015
211,199

$10.491931

to
$11.217539
$2,195,411
0.50
%
to
2.70%
0.18
%
to
1.30%
(6.94
)%
to
(4.87)%



 
2014
282,563

$11.274306

to
$11.791607
$3,124,726
0.50
%
to
2.70%
%
to
—%
(4.94
)%
to
(3.98)%
HIMCO VIT American Funds Global Growth and Income Fund
 
2017
531,578

$23.564986

to
$24.590458
$8,120,052
0.50
%
to
2.70%
1.42
%
to
1.52%
18.58
 %
to
20.54%
 
2016
610,788

$19.872892

to
$20.400844
$7,883,384
0.50
%
to
2.70%
1.91
%
to
1.96%
4.17
 %
to
6.48%
 
2015
729,340

$19.078079

to
$19.158852
$8,902,134
0.50
%
to
2.70%
3.40
%
to
3.41%
(4.26
)%
to
(2.13)%
 
2014
870,819

$19.576024

to
$19.927300
$10,977,894
0.50
%
to
2.70%
%
to
—%
(1.64
)%
to
(0.68)%
HIMCO VIT American Funds Global Growth Fund
 
2017
182,703

$25.845212

to
$25.989354
$3,200,895
0.50
%
to
2.70%
0.85
%
to
0.93%
22.94
 %
to
24.97%
 
2016
173,681

$20.795815

to
$21.021891
$2,472,320
0.50
%
to
2.70%
1.91
%
to
1.97%
(2.52
)%
to
(0.35)%
 
2015
180,099

$20.869025

to
$21.565093
$2,564,372
0.50
%
to
2.70%
0.73
%
to
0.81%
3.76
 %
to
6.06%
 
2014
207,773

$19.675954

to
$20.784553
$2,818,287
0.50
%
to
2.70%
%
to
—%
(0.84
)%
to
0.08%
HIMCO VIT American Funds Global Small Capitalization Fund
 
2017
515,185

$22.289039

to
$24.644196
$7,011,556
0.50
%
to
2.70%
0.12
%
to
0.17%
17.14
 %
to
19.07%
 
2016
584,693

$19.001544

to
$21.038167
$6,726,620
0.30
%
to
2.70%
%
to
0.42%
(1.04
)%
to
1.36%
 
2015
678,686

$18.503779

to
$21.259400
$7,747,579
0.50
%
to
2.70%
%
to
—%
(2.69
)%
to
(0.53)%
 
2014
767,195

$18.601443

to
$21.847319
$8,846,403
0.50
%
to
2.70%
%
to
—%
(3.20
)%
to
(2.30)%
HIMCO VIT American Funds Growth Fund
 
2017
2,371,225

$29.518739

to
$31.452845
$45,729,139
0.30
%
to
2.75%
%
to
0.47%
18.26
 %
to
20.44%
 
2016
2,798,615

$24.960991

to
$26.115777
$45,226,399
0.30
%
to
2.75%
%
to
0.32%
6.14
 %
to
8.78%
 
2015
3,486,242

$23.516099

to
$24.008732
$52,215,077
0.30
%
to
2.75%
%
to
0.91%
3.61
 %
to
6.18%
 
2014
4,105,677

$22.363732

to
$22.696589
$58,431,416
0.50
%
to
2.75%
%
to
—%
2.65
 %
to
3.63%
HIMCO VIT American Funds Growth-Income Fund
 
2017
1,395,781

$25.809314

to
$28.354955
$25,936,741
0.50
%
to
2.70%
1.64
%
to
1.73%
13.17
 %
to
15.04%
 
2016
1,506,213

$22.805660

to
$24.647958
$24,549,345
0.50
%
to
2.70%
1.59
%
to
1.66%
8.25
 %
to
10.65%
 
2015
1,813,589

$21.068239

to
$22.274851
$27,011,054
0.50
%
to
2.70%
0.93
%
to
1.04%
(1.50
)%
to
0.69%
 
2014
2,083,358

$21.389833

to
$22.122666
$30,983,947
0.50
%
to
2.70%
%
to
—%
1.66
 %
to
2.66%
HIMCO VIT American Funds International Fund
 
2017
2,319,084

$18.990953

to
$19.014451
$28,288,556
0.30
%
to
2.70%
%
to
1.30%
23.24
 %
to
25.46%
 
2016
2,649,235

$15.136960

to
$15.428869
$25,959,834
0.30
%
to
2.70%
%
to
1.38%
0.52
 %
to
2.96%
 
2015
3,132,226

$14.511118

to
$15.348523
$30,118,413
0.50
%
to
2.70%
1.19
%
to
1.21%
(7.37
)%
to
(5.31)%
 
2014
3,511,918

$15.494184

to
$16.569762
$35,929,589
0.30
%
to
2.70%
%
to
—%
(6.81
)%
to
(5.87)%
HIMCO VIT American Funds New World Fund
 
2017
359,398

$17.976168

to
$18.570989
$4,401,125
0.50
%
to
2.70%
0.43
%
to
0.43%
20.61
 %
to
22.60%
 
2016
386,224

$14.883842

to
$15.397371
$3,954,961
0.30
%
to
2.70%
%
to
2.12%
2.09
 %
to
4.57%
 
2015
464,236

$14.049114

to
$15.081704
$4,589,521
0.50
%
to
2.70%
0.88
%
to
1.07%
(6.09
)%
to
(4.00)%
 
2014
534,411

$14.796659

to
$16.060062
$5,553,590
0.30
%
to
2.70%
%
to
—%
(13.28
)%
to
(12.39)%
MFS® Core Equity Portfolio
 
2017
376,438

$12.572463

to
$13.032531
$4,840,149
1.35
%
to
2.70%
0.58
%
to
0.88%
15.16
 %
to
16.32%
 
2016
419,240

$10.917513

to
$11.257684
$4,652,446
1.10
%
to
2.70%
0.78
%
to
0.86%
8.41
 %
to
10.16%
 
2015
477,344

$10.070613

to
$10.219591
$4,844,572
1.10
%
to
2.70%
0.53
%
to
0.55%
0.71
 %
to
2.20%
MFS® Massachusetts Investors Growth Stock Portfolio
 
2017
539,304

$12.120258

to
$12.580529
$6,692,163
1.35
%
to
2.75%
0.53
%
to
0.67%
17.10
 %
to
18.32%
 
2016
613,346

$10.350730

to
$10.683492
$6,458,277
1.10
%
to
2.75%
0.59
%
to
0.60%
3.20
 %
to
4.91%
 
2015
672,245

$10.029965

to
$10.183003
$6,798,502
1.10
%
to
2.75%
0.49
%
to
0.50%
0.30
 %
to
1.83%
MFS® Research International Portfolio
 
2017
874,224

$10.859012

to
$11.437771
$9,753,766
0.85
%
to
2.80%
1.87
%
to
1.94%
19.16
 %
to
20.90%



 
2016
1,020,912

$9.113093

to
$9.460449
$9,488,547
0.85
%
to
2.80%
1.63
%
to
1.64%
(3.44
)%
to
(1.54)%
 
2015
1,194,012

$9.438105

to
$9.608632
$11,376,017
0.85
%
to
2.80%
1.97
%
to
1.98%
(5.62
)%
to
(3.91)%
Columbia Variable Portfolio - Large Cap Growth Fund
 
2017
593,629

$12.601082

to
$12.815162
$7,558,522
1.70
%
to
2.80%
%
to
—%
20.23
 %
to
21.23%
 
2016
640,820

$10.480645

to
$10.571146
$6,752,146
1.70
%
to
2.80%
%
to
—%
4.81
 %
to
5.71%
Columbia Variable Portfolio - Select International Equity Fund
 
2017
467,985

$11.631101

to
$11.828829
$5,495,426
1.70
%
to
2.80%
1.89
%
to
1.91%
19.36
 %
to
20.34%
 
2016
510,759

$9.744961

to
$9.829212
$5,001,617
1.70
%
to
2.80%
1.08
%
to
1.10%
(2.55
)%
to
(1.71)%
Variable Portfolio - Loomis Sayles Growth Fund
 
2017
417,535

$12.940490

to
$13.150242
$5,454,674
1.70
%
to
2.75%
%
to
—%
22.64
 %
to
23.61%
 
2016
452,246

$10.551696

to
$10.638654
$4,794,952
1.70
%
to
2.75%
%
to
—%
5.52
 %
to
6.39%

*Represents the annualized contract expenses of the Sub-Account for the period indicated and includes only those expenses that are charged through a reduction in the unit values. Excluded are expenses of the Funds and charges made directly to contract owner accounts through the redemption of units. Where the expense ratio is the same for each unit value, it is presented in both the lowest and highest columns.
**These amounts represent the dividends, excluding distributions of capital gains, received by the Sub-Account from the Fund, net of management fees assessed by the Fund’s manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense risk charges, that result in direct reductions in the unit values. The recognition of investment income by the Sub-Account is affected by the timing of the declaration of dividends by the Fund in which the Sub-Account invests. Where the investment income ratio is the same for each unit value, it is presented in both the lowest and highest columns.
***Represents the total return for the period indicated and reflects a deduction only for expenses assessed through the daily unit value calculation. The total return does not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. Investment options with a date notation indicate the effective date of that investment option in the Account. The total return is calculated for the period indicated or from the effective date through the end of the reporting period.
# Rounded units/unit fair values. Where only one unit value exists, it is presented in both the lowest and highest columns.
+ See Note 1 for additional information related to this Sub-Account.

7. Subsequent Events:

On December 3, 2017, a Stock and Asset Purchase Agreement (the “Purchase Agreement”) was entered into by and among Hartford Holdings, Inc. (“HHI”) and its parent company, The Hartford Financial Services Group, Inc. (“HFSG”), Hopmeadow Acquisition, Inc. (“Buyer”), Hopmeadow Holdings, LP (“Buyer Parent”) and Hopmeadow Holdings GP LLC (“Buyer Parent GP”), pursuant to which HHI agreed to sell all of the issued and outstanding equity of Hartford Life, Inc. (“HLI”), the parent of the Sponsor Company and its indirect wholly owned subsidiary, Hartford Life and Annuity Insurance Company, to Buyer (the “Talcott Resolution Sale Transaction”).  Buyer, Buyer Parent and Buyer Parent GP are funded by a group of investors (the “Investor Group”) led by Cornell Capital LLC, Atlas Merchant Capital LLC, TRB Advisors LP, Global Atlantic Financial Group, Pine Brook and J. Safra Group. HHI will also be a member of the Investor Group.

The closing of the Talcott Resolution Sale Transaction is subject to regulatory approvals, and the satisfaction of other closing conditions. The administration, terms, features and benefits of the contracts will not change as a result of the sale. The Talcott Resolution Sale Transaction is expected to close in the first half of 2018.



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-Q
 
(Mark One)
x
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2017
or
o
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from              to             
Commission file number 001-32293
 
 
 
HARTFORD LIFE INSURANCE COMPANY
 
(Exact name of registrant as specified in its charter)
 
Connecticut
 
06-0974148
(State or other jurisdiction of
 
(I.R.S. Employer
incorporation or organization)
 
Identification No.)
One Hartford Plaza, Hartford, Connecticut 06155
(Address of principal executive offices)
(860) 547-5000
(Registrant’s telephone number, including area code)
 ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
Indicate by check mark:
 
Yes
 
No
•       whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
 
x
 
 
¨
 
 
 
 
 
 
 
 
•       whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
 
x
 
 
¨
 
 
•       whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer o
Accelerated filer o 
Non Accelerated filer x 
Smaller reporting company o 
Emerging growth company o 
 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨
•       whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.)
¨
  
x

As of October 27, 2017, there were outstanding 1,000 shares of Common Stock, $5,690 par value per share, of the registrant.
The registrant meets the conditions set forth in General Instruction (H) (1) of Form 10-Q and is therefore filing this Form with the reduced disclosure format.

1


HARTFORD LIFE INSURANCE COMPANY
QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2017
TABLE OF CONTENTS
 
Item
Description
Page
 
 
1.
 
 
 
Condensed Consolidated Statements of Operations — For the Three and Nine Months Ended September 30, 2017 and 2016
 
Condensed Consolidated Statements of Comprehensive Income — For the Three and Nine Months Ended September 30, 2017 and 2016
 
Condensed Consolidated Balance Sheets — As of September 30, 2017 and December 31, 2016
 
Condensed Consolidated Statements of Changes in Stockholder's Equity — For the Nine Months Ended September 30, 2017 and 2016
 
Condensed Consolidated Statements of Cash Flows — For the Nine Months Ended September 30, 2017 and 2016
 
2.
3.
4.
 
 
1.
1A.
6.
 
 

2



Forward-Looking Statements
Certain of the statements contained herein are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “projects,” and similar references to future periods.
Forward-looking statements are based on our current expectations and assumptions regarding economic, competitive, legislative and other developments. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. They have been made based upon management’s expectations and beliefs concerning future developments and their potential effect upon Hartford Life Insurance Company and its subsidiaries (collectively, the “Company”). Future developments may not be in line with management’s expectations or may have unanticipated effects. Actual results could differ materially from expectations, depending on the evolution of various factors, including the risks and uncertainties identified below, as well as risk factors described in such forward-looking statements or in Part I, Item 1A, Risk Factors in the Company’s 2016 Form 10-K Annual Report and those identified from time to time in our other filings with the Securities and Exchange Commission ("SEC").
Risks Relating to Economic, Political and Global Conditions:
challenges related to the Company's current operating environment, including economic, political, and global market conditions, and the effect of financial market disruptions, economic downturns or other potentially adverse macroeconomic developments on our products, the returns in our investment portfolios and the hedging costs associated with our run-off annuity block;
financial risk related to the continued reinvestment of our investment portfolios and performance of our hedge program for our run-off annuity block;
market risks associated with our business, including changes in credit spreads, equity prices, interest rates, market volatility and foreign exchange rates;
the impact on our investment portfolio if our investment portfolio is concentrated in any particular segment of the economy;
Insurance Industry and Product-Related Risks:
volatility in our statutory earnings and earnings calculated in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") and potential material changes to our results resulting from our adjustment of our risk management program to emphasize protection of economic value;
the possibility of a terrorist attack, a pandemic, or other natural or man-made disaster that may increase the Company's mortality exposure and adversely affect its businesses;
Financial Strength, Credit and Counterparty Risks:
risks to our business, financial position, prospects and results associated with negative rating actions or downgrades in the Company's financial strength and credit ratings or negative rating actions or downgrades relating to our investments;
the impact on our statutory capital of various factors, including many that are outside the Company’s control, which can in turn affect our credit and financial strength ratings, cost of capital, regulatory compliance and other aspects of our business and results;
losses due to nonperformance or defaults by others, including sourcing partners, derivative counterparties and other third parties;
the potential for losses due to our reinsurers’ unwillingness or inability to meet their obligations under reinsurance contracts and the availability, pricing and adequacy of reinsurance to protect the Company against losses;
Risks Relating to Estimates, Assumptions and Valuations:
risk associated with the use of analytical models in making decisions in key areas such as capital management, hedging, and reserving;
the potential for differing interpretations of the methodologies, estimations and assumptions that underlie the Company’s fair value estimates for its investments and the evaluation of the other-than-temporary impairments on available-for-sale securities;
the potential for further acceleration of deferred policy acquisition cost amortization and an increase in reserve for certain guaranteed benefits in our variable annuities;
the potential for valuation allowances against deferred tax assets;

3



Strategic and Operational Risks:
risks associated with the run off of our annuity book of business;
the Company’s ability to maintain the availability of its systems and safeguard the security of its data in the event of a disaster, cyber or other information security incident or other unanticipated event;
the potential for difficulties arising from outsourcing and similar third-party relationships;
the risks, challenges and uncertainties associated with The Hartford's expense reduction initiatives and other actions, which may include acquisitions, divestitures or restructurings;
the Company’s ability to protect its intellectual property and defend against claims of infringement;
Regulatory and Legal Risks:
the cost and other effects of increased regulatory and legislative developments, including those that could adversely impact the Company’s operating costs and required capital levels;
unfavorable judicial or legislative developments;
the impact of changes in federal or state tax laws; and
the impact of potential changes in accounting principles and related financial reporting requirements.
Any forward-looking statement made by the Company in this document speaks only as of the date of the filing of this Form 10-Q. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.

4



Part I. FINANCIAL INFORMATION
 
Item 1.Financial Statements
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholder of
Hartford Life Insurance Company
Hartford, Connecticut

We have reviewed the accompanying condensed consolidated balance sheet of Hartford Life Insurance Company and subsidiaries (the "Company") as of September 30, 2017, and the related condensed consolidated statements of operations and comprehensive income for the three-month and nine-month periods ended September 30, 2017 and 2016, and statements of changes in stockholder's equity and cash flows for the nine-month periods ended September 30, 2017 and 2016. These interim financial statements are the responsibility of the Company's management.
We conducted our reviews in accordance with the standards of the Public Company Accounting Oversight Board (United States). A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States), the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.
Based on our reviews, we are not aware of any material modifications that should be made to such condensed consolidated interim financial statements for them to be in conformity with accounting principles generally accepted in the United States of America.
We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheet of the Company as of December 31, 2016, and the related consolidated statements of operations, comprehensive income, changes in stockholder’s equity, and cash flows for the year then ended (not presented herein); and in our report dated February 24, 2017, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying condensed consolidated balance sheet as of December 31, 2016 is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived.


DELOITTE & TOUCHE LLP
Hartford, Connecticut
October 27, 2017


5

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
Condensed Consolidated Statements of Operations

 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
(In millions)
2017
2016
 
2017
2016
 
(Unaudited)
Revenues
 
 
 
 
 
Fee income and other
$
215

$
246

 
$
661

$
746

Earned premiums
27

124

 
97

180

Net investment income
324

363

 
958

1,030

Net realized capital losses:
 
 
 
 
 
Total other-than-temporary impairment (“OTTI”) losses
(2
)
(12
)
 
(16
)
(24
)
OTTI losses recognized in other comprehensive income ("OCI")
1


 
2

1

Net OTTI losses recognized in earnings
(1
)
(12
)
 
(14
)
(23
)
Other net realized capital losses
(32
)
(19
)
 
(47
)
(122
)
Total net realized capital losses
(33
)
(31
)
 
(61
)
(145
)
Total revenues
533

702

 
1,655

1,811

Benefits, losses and expenses
 
 
 
 
 
Benefits, losses and loss adjustment expenses
352

405

 
1,024

1,096

Amortization of deferred policy acquisition costs ("DAC")
7

81

 
25

100

Insurance operating costs and other expenses
103

124

 
304

365

Dividends to policyholders


 

1

Total benefits, losses and expenses
462

610

 
1,353

1,562

Income before income taxes
71

92

 
302

249

Income tax expense (benefit)
(12
)
13

 
32

24

Net income
$
83

$
79

 
$
270

$
225

See Notes to Condensed Consolidated Financial Statements

6

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
Condensed Consolidated Statements of Comprehensive Income


 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In millions)
2017
2016
 
2017
2016
 
(Unaudited)
Net income
$
83

$
79

 
$
270

$
225

Other comprehensive income (loss):
 
 
 
 
 
Changes in net unrealized gain on securities
32

137

 
238

591

Changes in net gain on cash-flow hedging instruments
(7
)
(14
)
 
(16
)
6

Changes in foreign currency translation adjustments


 

1

    OCI, net of tax
25

123

 
222

598

Comprehensive income
$
108

$
202

 
$
492

$
823

See Notes to Condensed Consolidated Financial Statements

7

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
Condensed Consolidated Balance Sheets

 
(In millions, except for share data)
September 30, 2017
December 31, 2016
 
(Unaudited)
Assets
 
 
Investments:
 
 
Fixed maturities, available-for-sale, at fair value (amortized cost of $21,821 and $22,507)
$
23,643

$
23,819

Fixed maturities, at fair value using the fair value option
36

82

Equity securities, available-for-sale, at fair value (cost of $139 and $142)
153

152

Mortgage loans (net of allowance for loan losses of $1 and $19)
2,880

2,811

Policy loans, at outstanding balance
1,417

1,442

Limited partnerships and other alternative investments
964

930

Other investments
254

293

Short-term investments
1,400

1,349

Total investments
30,747

30,878

Cash
239

554

Premiums receivable and agents’ balances
15

18

Reinsurance recoverables
20,721

20,725

Deferred policy acquisition costs
426

463

Deferred income taxes, net
1,193

1,437

Other assets
838

606

Separate account assets
115,626

115,665

Total assets
$
169,805

$
170,346

Liabilities
 
 
Reserve for future policy benefits
$
14,280

$
14,000

Other policyholder funds and benefits payable
29,576

30,588

Other liabilities
2,608

2,272

Separate account liabilities
115,626

115,665

Total liabilities
162,090

162,525

Commitments and Contingencies (Note 8)
 
 
Stockholder's Equity
 
 
Common stock—1,000 shares authorized, issued and outstanding, par value $5,690
6

6

Additional paid-in capital
4,337

4,935

Accumulated other comprehensive income, net of tax
944

722

Retained earnings
2,428

2,158

Total stockholder's equity
7,715

7,821

Total liabilities and stockholder's equity
$
169,805

$
170,346

See Notes to Condensed Consolidated Financial Statements

8

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
Condensed Consolidated Statements of Changes in Stockholder's Equity

    
 
Nine Months Ended September 30,
(In millions, except for share data)
2017
2016
 
(Unaudited)
Common Stock
$
6

$
6

Additional Paid-in Capital
 
 
Additional Paid-in Capital, beginning of period
4,935

5,687

Return of capital to parent
(598
)
(755
)
Additional Paid-in Capital, end of period
4,337

4,932

Retained Earnings
 
 
Retained Earnings, beginning of period
2,158

1,876

Net income
270

225

Retained Earnings, end of period
2,428

2,101

Accumulated Other Comprehensive Income, net of tax
 
 
Accumulated Other Comprehensive Income, net of tax, beginning of period
722

593

Total other comprehensive income
222

598

Accumulated Other Comprehensive Income, net of tax, end of period
944

1,191

Total Stockholders’ Equity
$
7,715

$
8,230

See Notes to Condensed Consolidated Financial Statements

9

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows

 
Nine Months Ended September 30,
(In millions)
2017
2016
 Operating Activities
(Unaudited)
Net income
$
270

$
225

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
Net realized capital losses
61

145

Amortization of deferred policy acquisition costs
25

100

Additions to deferred policy acquisition costs
(2
)
(7
)
Depreciation and amortization
27

4

Other operating activities, net
132

10

Change in assets and liabilities:
 
 
Decrease in reinsurance recoverables
75

45

(Decrease) increase in deferred and accrued income taxes
(36
)
45

Increase in reserve for future policy benefits and unpaid losses and loss adjustment expenses and unearned premiums
141

128

Net changes in other assets and other liabilities
(81
)
(135
)
Net cash provided by operating activities
612

560

Investing Activities
 
 
Proceeds from the sale/maturity/prepayment of:
 
 
Fixed maturities, available-for-sale
7,619

7,079

Fixed maturities, fair value option
46

38

Equity securities, available-for-sale
178

287

Mortgage loans
314

142

Partnerships
81

335

Payments for the purchase of:
 
 
Fixed maturities, available-for-sale
(7,106
)
(6,561
)
Fixed maturities, fair value option

(29
)
Equity securities, available-for-sale
(182
)
(44
)
Mortgage loans
(389
)
(77
)
Partnerships
(163
)
(114
)
Net (payments for) proceeds from derivatives
(98
)
54

Net increase in policy loans
27

14

Net additions to property and equipment
(15
)

Net payments for short-term investments
(59
)
(195
)
Other investing activities, net
13

38

Net cash provided by investing activities
266

967

Financing Activities
 
 
Deposits and other additions to investment and universal life-type contracts
3,586

3,371

Withdrawals and other deductions from investment and universal life-type contracts
(10,580
)
(11,717
)
Net transfers from separate accounts related to investment and universal life-type contracts
6,080

7,722

Net increase (decrease) in securities loaned or sold under agreements to repurchase
331

(14
)
Return of capital to parent
(598
)
(755
)
Net repayments at maturity or settlement of consumer notes
(12
)
(14
)
Net cash used for financing activities
(1,193
)
(1,407
)
Foreign exchange rate effect on cash

1

Net (decrease) increase in cash
(315
)
121

Cash — beginning of period
554

305

Cash — end of period
$
239

$
426

Supplemental Disclosure of Cash Flow Information:
 
 
Income tax refunds received
$
24

$
17

See Notes to Condensed Consolidated Financial Statements

10

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Dollar amounts in millions, unless otherwise stated)
(Unaudited)


1. Basis of Presentation and Significant Accounting Policies
Hartford Life Insurance Company (together with its subsidiaries, “HLIC,” “Company,” “we” or “our”) is a provider of insurance and investment products in the United States (“U.S.”) and is a wholly-owned subsidiary of Hartford Life, Inc., a Delaware corporation ("HLI"). The Hartford Financial Services Group, Inc. (“The Hartford”) is the ultimate parent of the Company.
During the first nine months of 2017, the Company paid dividends of $600 to its parent.
The Company has ceded reinsurance in connection with the previous sales of its Retirement Plans and Individual Life businesses to Massachusetts Mutual Life Insurance Company ("MassMutual") and The Prudential Insurance Company of America ("Prudential"), respectively. The Company's obligations to its direct policyholders that have been reinsured to MassMutual and Prudential are secured by invested assets held in trust. As of September 30, 2017, the Company has no reinsurance-related concentrations of credit risk greater than 10% of the Company’s consolidated stockholder's equity.
The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, which differ materially from the accounting practices prescribed by various insurance regulatory authorities. These Condensed Consolidated Financial Statements and Notes should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company's 2016 Form 10-K Annual Report. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full year.
The accompanying Condensed Consolidated Financial Statements and Notes are unaudited. These financial statements reflect all adjustments (generally consisting only of normal accruals) which are, in the opinion of management, necessary for the fair presentation of the financial position, results of operations and cash flows for the interim periods. The Company's significant accounting policies are summarized in Note 1 - Basis of Presentation and Significant Accounting Policies of Notes to Consolidated Financial Statements included in the Company's 2016 Form 10-K Annual Report.
Consolidation
The Condensed Consolidated Financial Statements include the accounts of HLIC and entities the Company directly or indirectly has a controlling financial interest in, which the Company is required to consolidate. Entities in which HLIC has significant influence over the operating and financing decisions, but is not required to consolidate, are reported using the equity method. All intercompany transactions and balances between HLIC and its subsidiaries have been eliminated.
Use of Estimates
The preparation of financial statements, in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
The most significant estimates include those used in determining estimated gross profits used in the valuation and amortization of assets and liabilities associated with variable annuity and other universal life-type contracts; evaluation of other-than-temporary impairments on available-for-sale securities and valuation allowances on investments; living benefits required to be fair valued; valuation of investments and derivative instruments; valuation allowance on deferred tax assets; and contingencies relating to corporate litigation and regulatory matters. Certain of these estimates are particularly sensitive to market conditions, and deterioration and/or volatility in the worldwide debt or equity markets could have a material impact on the Condensed Consolidated Financial Statements.
Reclassifications
Certain reclassifications have been made to prior year financial information to conform to the current year presentation.

11

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
1. Basis of Presentation and Significant Accounting Policies (continued)

Future Adoption of New Accounting Standards
Hedging Activities
In August 2017, the FASB issued updated guidance on hedge accounting. The updates allow hedge accounting for new types of interest rate hedges of financial instruments and simplify documentation requirements to qualify for hedge accounting. In addition, any gain or loss from hedge ineffectiveness will be reported in the same income statement line with the effective hedge results and the hedged transaction. For cash flow hedges, the ineffectiveness will be recognized in earnings only when the hedged transaction affects earnings; otherwise, the ineffectiveness gains or losses will remain in accumulated other comprehensive income (AOCI). Under current accounting, total hedge ineffectiveness is reported separately in realized gains and losses apart from the hedged transaction. The updated guidance is effective January 1, 2019 through a cumulative effect adjustment that will reclassify cumulative ineffectiveness on open cash flow hedges from retained earnings to AOCI. Early adoption is permitted as of the beginning of a year. The Company has not yet determined the timing for adoption or estimated the effect on the Company’s financial statements.


12

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements

The Company carries certain financial assets and liabilities at estimated fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants. Our fair value framework includes a hierarchy that gives the highest priority to the use of quoted prices in active markets, followed by the use of market observable inputs, followed by the use of unobservable inputs. The fair value hierarchy levels are as follows:
Level 1
Fair values based primarily on unadjusted quoted prices for identical assets, or liabilities, in active markets that the Company has the ability to access at the measurement date.
Level 2
Fair values primarily based on observable inputs, other than quoted prices included in Level 1, or based on prices for similar assets and liabilities.
Level 3
Fair values derived when one or more of the significant inputs are unobservable (including assumptions about risk). With little or no observable market, the determination of fair values uses considerable judgment and represents the Company’s best estimate of an amount that could be realized in a market exchange for the asset or liability. Also included are securities that are traded within illiquid markets and/or priced by independent brokers.
The Company will classify the financial asset or liability by level based upon the lowest level input that is significant to the determination of the fair value. In most cases, both observable inputs (e.g., changes in interest rates) and unobservable inputs (e.g., changes in risk assumptions) are used to determine fair values that the Company has classified within Level 3.

13

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Assets and (Liabilities) Carried at Fair Value by Hierarchy Level as of September 30, 2017
 
Total
Quoted Prices in Active Markets for Identical 
Assets
 (Level 1)
Significant Observable Inputs
(Level 2)
Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a recurring basis
 
 
 
 
Fixed maturities, AFS
 
 
 
 
Asset backed securities ("ABS")
$
955

$

$
925

$
30

Collateralized debt obligations ("CDOs")
993


901

92

Commercial mortgage-backed securities ("CMBS")
2,151


2,119

32

Corporate
14,374


13,868

506

Foreign government/government agencies
381


373

8

Municipal
1,232


1,162

70

Residential mortgage-backed securities ("RMBS")
1,615


920

695

U.S. Treasuries
1,942

122

1,820


Total fixed maturities
23,643

122

22,088

1,433

Fixed maturities, FVO
36


36


Equity securities, trading [1]
11

11



Equity securities, AFS
153

20

89

44

Derivative assets
 
 
 
 
Credit derivatives
1


1


Foreign exchange derivatives
(2
)

(2
)

Interest rate derivatives
1


1


Guaranteed minimum withdrawal benefit ("GMWB") hedging instruments
39


(1
)
40

Macro hedge program
158



158

Total derivative assets [2]
197


(1
)
198

Short-term investments
1,400

855

545


Reinsurance recoverable for GMWB
51



51

Modified coinsurance reinsurance contracts
57


57


Separate account assets [3]
113,197

74,053

38,019

226

Total assets accounted for at fair value on a recurring basis
$
138,745

$
75,061

$
60,833

$
1,952

Liabilities accounted for at fair value on a recurring basis
 
 
 
 
Other policyholder funds and benefits payable
(GMWB embedded derivative)
$
(93
)
$

$

$
(93
)
Derivative liabilities
 
 
 
 
Foreign exchange derivatives
(264
)

(264
)

Interest rate derivatives
(387
)

(358
)
(29
)
GMWB hedging instruments
26


42

(16
)
Macro hedge program
8


(17
)
25

Total derivative liabilities [4]
(617
)

(597
)
(20
)
Total liabilities accounted for at fair value on a recurring basis
$
(710
)
$

$
(597
)
$
(113
)

14

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Assets and (Liabilities) Carried at Fair Value by Hierarchy Level as of December 31, 2016
 
Total
Quoted Prices in Active Markets for Identical Assets (Level 1)
Significant Observable Inputs (Level 2)
Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a recurring basis
 
 
 
 
Fixed maturities, AFS
 
 
 
 
ABS
$
993

$

$
956

$
37

CDOs
940


680

260

CMBS
2,146


2,125

21

Corporate
14,693


14,127

566

Foreign government/government agencies
345


328

17

Municipal
1,189


1,117

72

RMBS
1,760


1,049

711

U.S. Treasuries
1,753

230

1,523


Total fixed maturities
23,819

230

21,905

1,684

Fixed maturities, FVO
82


82


Equity securities, trading [1]
11

11



Equity securities, AFS
152

20

88

44

Derivative assets
 
 
 
 
Credit derivatives
(1
)

(1
)

Foreign exchange derivatives
4


4


Interest rate derivatives
30


30


GMWB hedging instruments
74


14

60

Macro hedge program
128


8

120

Total derivative assets [2]
235


55

180

Short-term investments
1,349

637

712


Reinsurance recoverable for GMWB
73



73

Modified coinsurance reinsurance contracts
68


68


Separate account assets [3]
111,634

71,606

38,856

201

Total assets accounted for at fair value on a recurring basis
$
137,423

$
72,504

$
61,766

$
2,182

Liabilities accounted for at fair value on a recurring basis
 
 
 
 
Other policyholder funds and benefits payable
 
 
 
 
GMWB embedded derivative
$
(241
)
$

$

$
(241
)
Equity linked notes
(33
)


(33
)
Total other policyholder funds and benefits payable
(274
)


(274
)
Derivative liabilities
 
 
 
 
Credit derivatives
1


1


Equity derivatives
33


33


Foreign exchange derivatives
(247
)

(247
)

Interest rate derivatives
(434
)

(404
)
(30
)
GMWB hedging instruments
20


(1
)
21

Macro hedge program
50


3

47

Total derivative liabilities [4]
(577
)

(615
)
38

Total liabilities accounted for at fair value on a recurring basis
$
(851
)
$

$
(615
)
$
(236
)
[1]
Included in other investments on the Condensed Consolidated Balance Sheets.
[2]
Includes OTC and OTC-cleared derivative instruments in a net positive fair value position after consideration of the accrued interest and impact of collateral posting requirements which may be imposed by agreements, clearing house rules and applicable law. See footnote 4 to this table for derivative liabilities.

15

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

[3]
Approximately $2.4 billion and $4.0 billion of investment sales receivable, as of September 30, 2017 and December 31, 2016, respectively, are excluded from this disclosure requirement because they are trade receivables in the ordinary course of business where the carrying amount approximates fair value. Included in the total fair value amount are $899 and $1.0 billion of investments, as of September 30, 2017 and December 31, 2016, respectively, for which the fair value is estimated using the net asset value per unit as a practical expedient which are excluded from the disclosure requirement to classify amounts in the fair value hierarchy.
[4]
Includes OTC and OTC-cleared derivative instruments in a net negative fair value position (derivative liability) after consideration of the accrued interest and impact of collateral posting requirements, which may be imposed by agreements, clearing house rules and applicable law.
Fixed Maturities, Equity Securities, Short-term Investments, and Free-standing Derivatives
Valuation Techniques
The Company generally determines fair values using valuation techniques that use prices, rates, and other relevant information evident from market transactions involving identical or similar instruments. Valuation techniques also include, where appropriate, estimates of future cash flows that are converted into a single discounted amount using current market expectations. The Company uses a "waterfall" approach comprised of the following pricing sources and techniques, which are listed in priority order:
Quoted prices, unadjusted, for identical assets or liabilities in active markets, which are classified as Level 1.
Prices from third-party pricing services, which primarily utilize a combination of techniques. These services utilize recently reported trades of identical, similar, or benchmark securities making adjustments for market observable inputs available through the reporting date. If there are no recently reported trades, they may use a discounted cash flow technique to develop a price using expected cash flows based upon the anticipated future performance of the underlying collateral discounted at an estimated market rate. Both techniques develop prices that consider the time value of future cash flows and provide a margin for risk, including liquidity and credit risk. Most prices provided by third-party pricing services are classified as Level 2 because the inputs used in pricing the securities are observable. However, some securities that are less liquid or trade less actively are classified as Level 3. Additionally, certain long-dated securities, including certain municipal securities, foreign government/government agency securities, and bank loans, include benchmark interest rate or credit spread assumptions that are not observable in the marketplace and are thus classified as Level 3.
Internal matrix pricing, which is a valuation process internally developed for private placement securities for which the Company is unable to obtain a price from a third-party pricing service. Internal pricing matrices determine credit spreads that, when combined with risk-free rates, are applied to contractual cash flows to develop a price. The Company develops credit spreads using market based data for public securities adjusted for credit spread differentials between public and private securities, which are obtained from a survey of multiple private placement brokers. The market-based reference credit spread considers the issuer’s financial strength and term to maturity, using an independent public security index and trade information, while the credit spread differential considers the non-public nature of the security. Securities priced using internal matrix pricing are classified as Level 2 because the inputs are observable or can be corroborated with observable data.
Independent broker quotes, which are typically non-binding and use inputs that can be difficult to corroborate with observable market based data. Brokers may use present value techniques using assumptions specific to the security types, or they may use recent transactions of similar securities. Due to the lack of transparency in the process that brokers use to develop prices, valuations that are based on independent broker quotes are classified as Level 3.
The fair value of free-standing derivative instruments are determined primarily using a discounted cash flow model or option model technique and incorporate counterparty credit risk. In some cases, quoted market prices for exchange-traded and OTC-cleared derivatives may be used and in other cases independent broker quotes may be used. The pricing valuation models primarily use inputs that are observable in the market or can be corroborated by observable market data. The valuation of certain derivatives may include significant inputs that are unobservable, such as volatility levels, and reflect the Company’s view of what other market participants would use when pricing such instruments. Unobservable market data is used in the valuation of customized derivatives that are used to hedge certain GMWB variable annuity riders. See the section “GMWB Embedded, Customized, and Reinsurance Derivatives” below for further discussion of the valuation model used to value these customized derivatives.
Valuation Controls
The fair value process for investments is monitored by the Valuation Committee, which is a cross-functional group of senior management within the Company that meets at least quarterly. The purpose of the committee is to oversee the pricing policy and procedures, as well as to approve changes to valuation methodologies and pricing sources. Controls and procedures used to assess third-party pricing services are reviewed by the Valuation Committee, including the results of annual due-diligence reviews.

16

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

There are also two working groups under the Valuation Committee: a Securities Fair Value Working Group (“Securities Working Group”) and a Derivatives Fair Value Working Group ("Derivatives Working Group"). The working groups, which include various investment, operations, accounting and risk management professionals, meet monthly to review market data trends, pricing and trading statistics and results, and any proposed pricing methodology changes.
The Securities Working Group reviews prices received from third parties to ensure that the prices represent a reasonable estimate of the fair value. The group considers trading volume, new issuance activity, market trends, new regulatory rulings and other factors to determine whether the market activity is significantly different than normal activity in an active market. A dedicated pricing unit follows up with trading and investment sector professionals and challenges prices of third-party pricing services when the estimated assumptions used differ from what the unit believes a market participant would use. If the available evidence indicates that pricing from third-party pricing services or broker quotes is based upon transactions that are stale or not from trades made in an orderly market, the Company places little, if any, weight on the third party service’s transaction price and will estimate fair value using an internal process, such as a pricing matrix.
The Derivatives Working Group reviews the inputs, assumptions and methodologies used to ensure that the prices represent a reasonable estimate of the fair value. A dedicated pricing team works directly with investment sector professionals to investigate the impacts of changes in the market environment on prices or valuations of derivatives. New models and any changes to current models are required to have detailed documentation and are validated to a second source. The model validation documentation and results of validation are presented to the Valuation Committee for approval.
The Company conducts other monitoring controls around securities and derivatives pricing including, but not limited to, the following:
Review of daily price changes over specific thresholds and new trade comparison to third-party pricing services.
Daily comparison of OTC derivative market valuations to counterparty valuations.
Review of weekly price changes compared to published bond prices of a corporate bond index.
Monthly reviews of price changes over thresholds, stale prices, missing prices, and zero prices.
Monthly validation of prices to a second source for securities in most sectors and for certain derivatives.
In addition, the Company’s enterprise-wide Operational Risk Management function, led by the Chief Risk Officer, is responsible for model risk management and provides an independent review of the suitability and reliability of model inputs, as well as an analysis of significant changes to current models.
Valuation Inputs
Quoted prices for identical assets in active markets are considered Level 1 and consist of on-the-run U.S. Treasuries, money market funds, exchange-traded equity securities, open-ended mutual funds, short-term investments, and exchange traded futures and option contracts.

17

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Valuation Inputs Used in Level 2 and 3 Measurements for Securities and Freestanding Derivatives
 
Level 2
Primary Observable Inputs
Level 3
Primary Unobservable Inputs
Fixed Maturity Investments
   Structured securities (includes ABS, CDOs CMBS and RMBS)
 
• Benchmark yields and spreads
• Monthly payment information
• Collateral performance, which varies by vintage year and includes delinquency rates, loss severity rates and refinancing assumptions
• Credit default swap indices

Other inputs for ABS and RMBS:
• Estimate of future principal prepayments, derived based on the characteristics of the underlying structure
• Prepayment speeds previously experienced at the interest rate levels projected for the collateral
• Independent broker quotes
• Credit spreads beyond observable curve
• Interest rates beyond observable curve

Other inputs for less liquid securities or those that trade less actively, including subprime RMBS:
• Estimated cash flows
• Credit spreads, which include illiquidity premium
• Constant prepayment rates
• Constant default rates
• Loss severity
   Corporates
 
• Benchmark yields and spreads
• Reported trades, bids, offers of the same or similar securities
• Issuer spreads and credit default swap curves

Other inputs for investment grade privately placed securities that utilize internal matrix pricing :
• Credit spreads for public securities of similar quality, maturity, and sector, adjusted for non-public nature
• Independent broker quotes
• Credit spreads beyond observable curve
• Interest rates beyond observable curve

Other inputs for below investment grade privately placed securities:
• Independent broker quotes
• Credit spreads for public securities of similar quality, maturity, and sector, adjusted for non-public nature
   U.S Treasuries, Municipals, and Foreign government/government agencies
 
• Benchmark yields and spreads
• Issuer credit default swap curves
• Political events in emerging market economies
• Municipal Securities Rulemaking Board reported trades and material event notices
• Issuer financial statements
• Independent broker quotes
• Credit spreads beyond observable curve
• Interest rates beyond observable curve
Equity Securities
 
• Quoted prices in markets that are not active
• For privately traded equity securities, internal discounted cash flow models utilizing earnings multiples or other cash flow assumptions that are not observable; or they may be held at cost
Short Term Investments
 
• Benchmark yields and spreads
• Reported trades, bids, offers
• Issuer spreads and credit default swap curves
• Material event notices and new issue money market rates
Not applicable
Derivatives
   Credit derivatives
 
• The swap yield curve
• Credit default swap curves
• Independent broker quotes
• Yield curves beyond observable limits
   Equity derivatives
 
• Equity index levels
• The swap yield curve
• Independent broker quotes
• Equity volatility
   Foreign exchange derivatives
 
• Swap yield curve
• Currency spot and forward rates
• Cross currency basis curves
• Independent broker quotes
   Interest rate derivatives
 
• Swap yield curve
• Independent broker quotes
• Interest rate volatility

18

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Significant Unobservable Inputs for Level 3 - Securities
Assets accounted for at fair value on a recurring basis

Fair
Value
Predominant
Valuation
Technique
Significant Unobservable  Input
Minimum
Maximum
Weighted Average [1]
Impact of
Increase in Input
on Fair Value [2]
As of September 30, 2017
CMBS [3]
$
15

Discounted cash flows
Spread (encompasses
prepayment, default risk and loss severity)
9bps
1,816bps
489bps
Decrease
Corporate [4]
$
260

Discounted cash flows
Spread
102bps
940bps
300bps
Decrease
Municipal [3]
$
53

Discounted cash flows
Spread
184bps
239bps
198bps
Decrease
RMBS [3]
$
695

Discounted cash flows
Spread
26bps
501bps
77bps
Decrease
 
 
 
Constant prepayment rate
—%
12%
5%
Decrease [5]
 
 
 
Constant default rate
2%
7%
4%
Decrease
 
 
 
Loss severity
—%
100%
68%
Decrease
As of December 31, 2016
CMBS [3]
$
9

Discounted cash flows
Spread (encompasses
prepayment, default risk and loss severity)
10bps
1,273bps
249bps
Decrease
Corporate [4]
$
265

Discounted cash flows
Spread
122bps
1,021bps
373bps
Decrease
Municipal [3]
$
56

Discounted cash flows
Spread
135bps
286bps
195bps
Decrease
RMBS [3]
$
704

Discounted cash flows
Spread
16bps
1,830bps
189bps
Decrease
 
 
 
Constant prepayment rate
—%
20%
4%
Decrease [5]
 
 
 
Constant default rate
1%
10%
5%
Decrease
 
 
 
Loss severity
—%
100%
75%
Decrease
[1]
The weighted average is determined based on the fair value of the securities.
[2]
Conversely, the impact of a decrease in input would have the opposite impact to the fair value as that presented in the table.
[3]
Excludes securities for which the Company based fair value on broker quotations.
[4]
Excludes securities for which the Company bases fair value on broker quotations; however, included are broker priced lower-rated private placement securities for which the Company receives spread and yield information to corroborate the fair value.
[5]
Decrease for above market rate coupons and increase for below market rate coupons.

19

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Significant Unobservable Inputs for Level 3 - Freestanding Derivatives
 
Fair
Value
Predominant Valuation
Technique
Significant
Unobservable Input
Minimum
Maximum
Impact of
Increase in Input
on Fair Value [1]
As of September 30, 2017
Interest rate derivatives
 
 
 
 
 
 
Interest rate swaps
$
(29
)
Discounted  cash flows
Swap curve 
beyond 30 years
2%
3%
Decrease
GMWB hedging instruments
 
 
 
 
 
 
Equity variance swaps
$
(40
)
Option model
Equity volatility
12%
19%
Increase
Equity options
$
2

Option model
Equity volatility
27%
27%
Increase
Customized swaps
$
62

Discounted  cash flows
Equity volatility
7%
30%
Increase
Macro hedge program [2]
 
 
 
 
 
 
Equity options
$
190

Option model
Equity volatility
15%
30%
Increase
As of December 31, 2016
Interest rate derivatives
 
 
 
 
 
 
Interest rate swaps
$
(29
)
Discounted  cash flows
Swap curve 
beyond 30 years
3%
3%
Decrease
GMWB hedging instruments
 
 
 
 
 
 
Equity variance swaps
$
(36
)
Option model
Equity volatility
20%
23%
Increase
Equity options
$
17

Option model
Equity volatility
27%
30%
Increase
Customized swaps
$
100

Discounted  cash flows
Equity volatility
12%
30%
Increase
Macro hedge program
 
 
 
 
 
 
Equity options
$
188

Option model
Equity volatility
17%
28%
Increase
[1]
Conversely, the impact of a decrease in input would have the opposite impact to the fair value as that presented in the table. Changes are based on long positions, unless otherwise noted. Changes in fair value will be inversely impacted for short positions.
[2]
Excludes derivatives for which the Company bases fair value on broker quotations.
The tables above exclude the portion of ABS, index options and certain corporate securities for which fair values are predominately based on independent broker quotes. While the Company does not have access to the significant unobservable inputs that independent brokers may use in their pricing process, the Company believes brokers likely use inputs similar to those used by the Company and third-party pricing services to price similar instruments. As such, in their pricing models, brokers likely use estimated loss severity rates, prepayment rates, constant default rates and credit spreads. Therefore, similar to non-broker priced securities, increases in these inputs would generally cause fair values to decrease. For the three and nine months ended September 30, 2017, no significant adjustments were made by the Company to broker prices received.
Transfers between Levels
Transfers of securities among the levels occur at the beginning of the reporting period. The amount of transfers from Level 1 to Level 2 was $163 and $657, for the three and nine months ended September 30, 2017 and $299 and $465 for the three and nine months ended September 30, 2016, respectively, which represented previously on-the-run U.S.Treasury securities that are now off-the-run. For the three and nine months ended September 30, 2017 and 2016, there were no transfers from Level 2 to Level 1. See the fair value roll-forward tables for the three and nine months ended September 30, 2017 and 2016, for the transfers into and out of Level 3.

20

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

GMWB Embedded, Customized and Reinsurance Derivatives
GMWB Embedded Derivatives
The Company formerly offered certain variable annuity products with GMWB riders that provide the policyholder with a GRB which is generally equal to premiums less withdrawals. If the policyholder’s account value is reduced to a specified level through a combination of market declines and withdrawals but the GRB still has value, the Company is obligated to continue to make annuity payments to the policyholder until the GRB is exhausted. When payments of the GRB are not life-contingent, the GMWB represents an embedded derivative carried at fair value reported in other policyholder funds and benefits payable in the Consolidated Balance Sheets with changes in fair value reported in net realized capital gains and losses.
Free-standing Customized Derivatives
The Company holds free-standing customized derivative contracts to provide protection from certain capital markets risks for the remaining term of specified blocks of non-reinsured GMWB riders. These customized derivatives are based on policyholder behavior assumptions specified at the inception of the derivative contracts. The Company retains the risk for differences between assumed and actual policyholder behavior and between the performance of the actively managed funds underlying the separate accounts and their respective indices. These derivatives are reported in the Consolidated Balance Sheets within other investments or other liabilities, as appropriate, after considering the impact of master netting agreements.
GMWB Reinsurance Derivative
The Company has reinsurance arrangements in place to transfer a portion of its risk of loss due to GMWB. These arrangements are recognized as derivatives carried at fair value and reported in reinsurance recoverables in the Consolidated Balance Sheets. Changes in the fair value of the reinsurance agreements are reported in net realized capital gains and losses.
Valuation Techniques
Fair values for GMWB embedded derivatives, free-standing customized derivatives and reinsurance derivatives are classified as Level 3 in the fair value hierarchy and are calculated using internally developed models that utilize significant unobservable inputs because active, observable markets do not exist for these items. In valuing the GMWB embedded derivative, the Company attributes to the derivative a portion of the expected fees to be collected over the expected life of the contract from the contract holder equal to the present value of future GMWB claims. The excess of fees collected from the contract holder in the current period over the portion of fees attributed to the embedded derivative in the current period are associated with the host variable annuity contract and reported in fee income.
Valuation Controls
Oversight of the Company's valuation policies and processes for GMWB embedded, reinsurance, and customized derivatives is performed by a multidisciplinary group comprised of finance, actuarial and risk management professionals. This multidisciplinary group reviews and approves changes and enhancements to the Company's valuation model as well as associated controls.
Valuation Inputs
The fair value for each of the non-life contingent GMWBs, the free-standing customized derivatives and the GMWB reinsurance derivative is calculated as an aggregation of the following components: Best Estimate Claim Payments; Credit Standing Adjustment; and Margins. The Company believes the aggregation of these components results in an amount that a market participant in an active liquid market would require, if such a market existed, to assume the risks associated with the guaranteed minimum benefits and the related reinsurance and customized derivatives. Each component described in the following discussion is unobservable in the marketplace and requires subjectivity by the Company in determining its value.
Best Estimate Claim Payments
The Best Estimate Claim Payments are calculated based on actuarial and capital market assumptions related to projected cash flows, including the present value of benefits and related contract charges, over the lives of the contracts, incorporating unobservable inputs including expectations concerning policyholder behavior. These assumptions are input into a stochastic risk neutral scenario process that is used to determine the valuation and involves numerous estimates and subjective judgments regarding a number of variables.
The Company monitors various aspects of policyholder behavior and may modify certain of its assumptions, including living benefit lapses and withdrawal rates, if credible emerging data indicates that changes are warranted. In addition, the Company will continue to evaluate policyholder behavior assumptions should we implement initiatives to reduce the size of the variable annuity business. At a minimum, all policyholder behavior assumptions are reviewed and updated at least annually as part of the Company’s annual fourth-quarter comprehensive study to refine its estimate of future gross profits. In addition, the Company recognizes non-market-based updates driven by the relative outperformance (underperformance) of the underlying actively managed funds as compared to their respective indices.

21

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Credit Standing Adjustment
The credit standing adjustment is an estimate of the additional amount that market participants would require in determining fair value to reflect the risk that GMWB benefit obligations or the GMWB reinsurance recoverables will not be fulfilled. The Company incorporates a blend of observable Company and reinsurer credit default spreads from capital markets, adjusted for market recoverability.
Margins
The behavior risk margin adds a margin that market participants would require, in determining fair value, for the risk that the Company’s assumptions about policyholder behavior could differ from actual experience. The behavior risk margin is calculated by taking the difference between adverse policyholder behavior assumptions and best estimate assumptions.
Valuation Inputs Used in Levels 2 and 3 Measurements for GMWB Embedded, Customized and Reinsurance Derivatives
 
Level 2
Primary Observable Inputs
Level 3
Primary Unobservable Inputs
 
• Risk-free rates as represented by the Eurodollar futures, LIBOR deposits and swap rates to derive forward curve rates
• Correlations of 10 years of observed historical returns across underlying well-known market indices
• Correlations of historical index returns compared to separate account fund returns
• Equity index levels
• Market implied equity volatility assumptions

Assumptions about policyholder behavior, including:
• Withdrawal utilization
• Withdrawal rates
• Lapse rates
• Reset elections
Significant Unobservable Inputs for Level 3 GMWB Embedded Customized and Reinsurance Derivatives
As of September 30, 2017
Significant Unobservable Input
Unobservable Inputs (Minimum)
Unobservable Inputs (Maximum)
Impact of Increase in Input
on Fair Value Measurement [1]
Withdrawal Utilization [2]
15%
100%
Increase
Withdrawal Rates [3]
—%
8%
Increase
Lapse Rates [4]
—%
40%
Decrease
Reset Elections [5]
20%
75%
Increase
Equity Volatility [6]
7%
30%
Increase
As of December 31, 2016
Significant Unobservable Input
Unobservable Inputs (Minimum)
Unobservable Inputs (Maximum)
Impact of Increase in Input
on Fair Value Measurement [1]
Withdrawal Utilization [2]
15%
100%
Increase
Withdrawal Rates [3]
—%
8%
Increase
Lapse Rates [4]
—%
40%
Decrease
Reset Elections [5]
20%
75%
Increase
Equity Volatility [6]
12%
30%
Increase
[1]
Conversely, the impact of a decrease in input would have the opposite impact to the fair value as that presented in the table.
[2]
Range represents assumed cumulative percentages of policyholders taking withdrawals.
[3]
Range represents assumed cumulative annual amount withdrawn by policyholders.
[4]
Range represents assumed annual percentages of full surrender of the underlying variable annuity contracts across all policy durations for in force business.
[5]
Range represents assumed cumulative percentages of policyholders that would elect to reset their guaranteed benefit base.
[6]
Range represents implied market volatilities for equity indices based on multiple pricing sources.

22

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Separate Account Assets
Separate account assets are primarily invested in mutual funds. Other separate account assets include fixed maturities, limited partnerships, equity securities, short-term investments and derivatives that are valued in the same manner, and using the same pricing sources and inputs, as those investments held by the Company. For limited partnerships in which fair value represents the separate account's share of the NAV, 45% and 39% were subject to significant liquidation restrictions as of September 30, 2017 and December 31, 2016, respectively. Total limited partnerships that do not allow any form of redemption were 16% and 11% as of September 30, 2017 and December 31, 2016, respectively. Separate account assets classified as Level 3 primarily include subprime RMBS and commercial mortgage loans.
Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs
The Company uses derivative instruments to manage the risk associated with certain assets and liabilities. However, the derivative instrument may not be classified with the same fair value hierarchy level as the associated asset or liability. Therefore, the realized and unrealized gains and losses on derivatives reported in the Level 3 roll-forward may be offset by realized and unrealized gains and losses of the associated assets and liabilities in other line items of the financial statements.
Fair Value Roll-forwards for Financial Instruments Classified as Level 3 for the Three Months Ended September 30, 2017
 
 
 
Total realized/unrealized gains (losses)
 
 
 
 
 
 
 
 
Fair value as of June 30, 2017
Included in net income [1] [2] [6]
Included in OCI [3]
Purchases
Settlements
Sales
Transfers into Level 3 [4]
Transfers out of Level 3 [4]
Fair value as of September 30, 2017
Assets
 
 
 
 
 
 
 
 
 
Fixed Maturities, AFS
 
 
 
 
 
 
 
 
 
 
ABS
$
33

$

$

$

$
(3
)
$

$
3

$
(3
)
$
30

 
CDOs
136


(1
)
20




(63
)
92

 
CMBS
33




(1
)



32

 
Corporate
608

(1
)
3

6

2

(16
)

(96
)
506

 
Foreign Govt./Govt. Agencies
7



2




(1
)
8

 
Municipal
70








70

 
RMBS
739


10

1

(47
)


(8
)
695

Total Fixed Maturities, AFS
1,626

(1
)
12

29

(49
)
(16
)
3

(171
)
1,433

Equity Securities, AFS
43


(2
)
3





44

Freestanding Derivatives
 
 
 
 
 
 
 
 
 
 
Interest rate
(29
)







(29
)
 
GMWB hedging instruments
40

(16
)






24

 
Macro hedge program
160

14


9





183

Total Freestanding Derivatives [5]
171

(2
)

9





178

Reinsurance Recoverable for GMWB
57

(9
)


3




51

Separate Accounts
192


3

37

(1
)
(2
)

(3
)
226

Total Assets
$
2,089

$
(12
)
$
13

$
78

$
(47
)
$
(18
)
$
3

$
(174
)
$
1,932

(Liabilities)
 
 
 
 
 
 
 
 
 
Other Policyholder Funds and Benefits Payable
 
 
 
 
 
 
 
 
 
 
Guaranteed Withdrawal Benefits
$
(134
)
$
58

$

$

$
(17
)
$

$

$

$
(93
)
 
Equity Linked Notes
(37
)



37





Total Other Policyholder Funds and Benefits Payable
(171
)
58



20




(93
)
Total Liabilities
$
(171
)
$
58

$

$

$
20

$

$

$

$
(93
)

23

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Fair Value Roll-forwards for Financial Instruments Classified as Level 3 for the Nine Months Ended September 30, 2017
 
 
 
Total realized/unrealized gains (losses)
 
 
 
 
 
 
 
 
Fair value as of January 1, 2017
Included in net income [1] [2] [6]
Included in OCI [3]
Purchases
Settlements
Sales
Transfers into Level 3 [4]
Transfers out of Level 3 [4]
Fair value as of September 30, 2017
Assets
 
 
 
 
 
 
 
 
 
Fixed Maturities, AFS
 
 
 
 
 
 
 
 
 
 
ABS
$
37

$

$

$
14

$
(6
)
$

$
6

$
(21
)
$
30

 
CDOs
260


(2
)
134

(107
)


(193
)
92

 
CMBS
21


1

33

(3
)


(20
)
32

 
Corporate
566

(8
)
22

88

3

(89
)
57

(133
)
506

 
Foreign Govt./Govt. Agencies
17


1

3

(2
)


(11
)
8

 
Municipal
72


3



(5
)


70

 
RMBS
711


21

107

(136
)


(8
)
695

Total Fixed Maturities, AFS
1,684

(8
)
46

379

(251
)
(94
)
63

(386
)
1,433

Equity Securities, AFS
44


(5
)
5





44

Freestanding Derivatives
 
 
 
 
 
 
 
 
 
 
Interest rate
(30
)
1







(29
)
 
GMWB hedging instruments
81

(57
)






24

 
Macro hedge program
167

7


9





183

Total Freestanding Derivatives [5]
218

(49
)

9





178

Reinsurance Recoverable for GMWB
73

(33
)


11




51

Separate Accounts
201

3

5

148

(7
)
(45
)
10

(89
)
226

Total Assets
$
2,220

$
(87
)
$
46

$
541

$
(247
)
$
(139
)
$
73

$
(475
)
$
1,932

(Liabilities)
 
 
 
 
 
 
 
 
 
Other Policyholder Funds and Benefits Payable
 
 
 
 
 
 
 
 
 
 
Guaranteed Withdrawal Benefits
$
(241
)
$
197

$

$

$
(49
)
$

$

$

$
(93
)
 
Equity Linked Notes
(33
)
(4
)


37





Total Other Policyholder Funds and Benefits Payable
(274
)
193



(12
)



(93
)
Total Liabilities
$
(274
)
$
193

$

$

$
(12
)
$

$

$

$
(93
)

24

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Fair Value Roll-forwards for Financial Instruments Classified as Level 3 for the Three Months Ended September 30, 2016
 
 
 
Total realized/unrealized gains (losses)
 
 
 
 
 
 
 
 
Fair value as of June 30, 2016
Included in net income [1] [2] [6]
Included in OCI [3]
Purchases
Settlements
Sales
Transfers into Level 3 [4]
Transfers out of Level 3 [4]
Fair value as of September 30, 2016
Assets
 
 
 
 
 
 
 
 
 
Fixed Maturities, AFS
 
 
 
 
 
 
 
 
 
 
ABS
$
7

$

$

$
17

$
(1
)
$
(2
)
$

$
(1
)
$
20

 
CDOs
266


(2
)

(8
)



256

 
CMBS
15



14

(3
)


(3
)
23

 
Corporate
717

(11
)
25

22

4

(20
)
56

(158
)
635

 
Foreign Govt./Govt. Agencies
18


1

5

(1
)
(3
)


20

 
Municipal
73


2

4





79

 
RMBS
690


5

93

(37
)
(8
)


743

Total Fixed Maturities, AFS
1,786

(11
)
31

155

(46
)
(33
)
56

(162
)
1,776

Fixed Maturities, FVO
 
 
 
 
 
 
 
 

Equity Securities, AFS
42

(1
)

2





43

Freestanding Derivatives
 
 
 
 
 
 
 
 
 
 
Equity
1

(1
)







 
Interest rate
(34
)







(34
)
 
GMWB hedging instruments
165

(34
)






131

 
Macro hedge program
141

(32
)

63

(4
)



168

Total Freestanding Derivatives [5]
273

(67
)

63

(4
)



265

Reinsurance Recoverable for GMWB
106

(12
)


4




98

Separate Accounts
171

1

(1
)
165

(3
)
(11
)
10

(7
)
325

Total Assets
$
2,378

$
(90
)
$
30

$
385

$
(49
)
$
(44
)
$
66

$
(169
)
$
2,507

(Liabilities)
 
 
 
 
 
 
 
 
 
Other Policyholder Funds and Benefits Payable
 
 
 
 
 
 
 
 
 
 
Guaranteed Withdrawal Benefits
$
(412
)
$
81

$

$

$
(17
)
$

$

$

$
(348
)
 
Equity Linked Notes
(28
)
(3
)






(31
)
Total Other Policyholder Funds and Benefits Payable
(440
)
78



(17
)



(379
)
Total Liabilities
$
(440
)
$
78

$

$

$
(17
)
$

$

$

$
(379
)

25

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Fair Value Roll-forwards for Financial Instruments Classified as Level 3 for the Nine Months Ended September 30, 2016
 
 
 
Total realized/unrealized gains (losses)
 
 
 
 
 
 
 
 
Fair value as of January 1, 2016
Included in net income [1] [2] [6]
Included in OCI [3]
Purchases
Settlements
Sales
Transfers into Level 3 [4]
Transfers out of Level 3 [4]
Fair value as of September 30, 2016
Assets
 
 
 
 
 
 
 
 
 
Fixed Maturities, AFS
 
 
 
 
 
 
 
 
 
 
ABS
$
5

$

$

$
17

$
(1
)
$
(2
)
$
5

$
(4
)
$
20

 
CDOs
330

(1
)
(6
)

(67
)



256

 
CMBS
62


(1
)
33

(11
)
(2
)

(58
)
23

 
Corporate
534

(18
)
29

56

(41
)
(55
)
363

(233
)
635

 
Foreign Govt./Govt. Agencies
17


3

8

(3
)
(5
)


20

 
Municipal
49


6

16



8


79

 
RMBS
628


3

241

(113
)
(8
)
2

(10
)
743

Total Fixed Maturities, AFS
1,625

(19
)
34

371

(236
)
(72
)
378

(305
)
1,776

Fixed Maturities, FVO
2



1


(1
)

(2
)

Equity Securities, AFS
38

(1
)
4

4


(2
)


43

Freestanding Derivatives
 
 
 
 
 
 
 
 
 
 
Equity

(8
)

8






 
Interest rate
(29
)
(5
)






(34
)
 
GMWB hedging instruments
135

(10
)





6

131

 
Macro hedge program
147

(36
)

63

(6
)



168

Total Freestanding Derivatives [5]
253

(59
)

71

(6
)


6

265

Reinsurance Recoverable for GMWB
83

4



11




98

Separate Accounts
139

1

5

226

(12
)
(27
)
16

(23
)
325

Total Assets
$
2,140

$
(74
)
$
43

$
673

$
(243
)
$
(102
)
$
394

$
(324
)
$
2,507

(Liabilities)
 
 
 
 
 
 
 
 
 
Other Policyholder Funds and Benefits Payable
 
 
 
 
 
 
 
 
 
 
Guaranteed Withdrawal Benefits
$
(262
)
$
(36
)
$

$

$
(50
)
$

$

$

$
(348
)
 
Equity Linked Notes
(26
)
(5
)






(31
)
Total Other Policyholder Funds and Benefits Payable
(288
)
(41
)


(50
)



(379
)
Total Liabilities
$
(288
)
$
(41
)
$

$

$
(50
)
$

$

$

$
(379
)
[1]
The Company classifies realized and unrealized gains (losses) on GMWB reinsurance derivatives and GMWB embedded derivatives as unrealized gains (losses) for purposes of disclosure in this table because it is impracticable to track on a contract-by-contract basis the realized gains (losses) for these derivatives and embedded derivatives.
[2]
Amounts in these rows are generally reported in net realized capital gains (losses). The realized/unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on net income for the Company. All amounts are before income taxes and amortization of DAC.
[3]
All amounts are before income taxes and amortization of DAC.
[4]
Transfers in and/or (out) of Level 3 are primarily attributable to the availability of market observable information and the re-evaluation of the observability of pricing inputs.
[5]
Derivative instruments are reported in this table on a net basis for asset (liability) positions and reported in the Consolidated Balance Sheets in other investments and other liabilities.
[6]
Includes both market and non-market impacts in deriving realized and unrealized gains (losses).

26

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Changes in Unrealized Gains (Losses) Included in Net Income for Financial Instruments Classified as Level 3 Still Held at End of Period
 
 
Three months ended September 30,
Nine months ended September 30,
 
 
2017 [1][2]
2016 [1][2]
2017 [1][2]
2016 [1][2]
Assets
 
 
 
 
Fixed Maturities, AFS
 
 
 
 
 
Corporate
$
(1
)
$
(11
)
$
(13
)
$
(12
)
Total Fixed Maturities, AFS
(1
)
(11
)
(13
)
(12
)
Freestanding Derivatives
 
 
 
 
 
Interest Rate



(5
)
 
GMWB hedging instruments
(16
)
(34
)
(57
)
(2
)
 
Macro hedge program
14

(34
)
8

(31
)
Total Freestanding Derivatives
(2
)
(68
)
(49
)
(38
)
Reinsurance Recoverable for GMWB
(9
)
(12
)
(33
)
4

Separate Accounts


1


Total Assets
$
(12
)
$
(91
)
$
(94
)
$
(46
)
(Liabilities)
 
 
 
 
Other Policyholder Funds and Benefits Payable
 
 
 
 
 
Guaranteed Withdrawal Benefits
$
58

$
81

$
197

$
(36
)
 
Equity Linked Notes

(3
)
(4
)
(5
)
Total Other Policyholder Funds and Benefits Payable
58

78

193

(41
)
Total Liabilities
$
58

$
78

$
193

$
(41
)
[1]
All amounts in these rows are reported in net realized capital gains (losses). The realized/unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on net income for the Company. All amounts are before income taxes and amortization of DAC.
[2]
Amounts presented are for Level 3 only and therefore may not agree to other disclosures included herein.
Fair Value Option
The Company has elected the fair value option for certain securities that contain embedded credit derivatives with underlying credit risk, related to residential real estate, and these securities are included within Fixed Maturities, FVO on the Condensed Consolidated Balance Sheets.
The Company also previously elected the fair value option for certain equity securities in order to align the accounting with total return swap contracts that hedged the risk associated with the investments. The swaps did not qualify for hedge accounting and the change in value of both the equity securities and the total return swaps were recorded in net realized capital gains and losses. These equity securities were classified within equity securities, AFS on the Condensed Consolidated Balance Sheets. Income earned from FVO securities was recorded in net investment income and changes in fair value were recorded in net realized capital gains and losses. The Company did not hold any of these equity securities as of September 30, 2017 or December 31, 2016.
Changes in Fair Value of Assets using Fair Value Option
 
Three Months Ended September 30,
Nine Months Ended September 30,
 
2017
2016
2017
2016
Assets
 
 
 
 
Fixed maturities, FVO
 
 
 
 
RMBS
$

$
1

$

$
3

Total fixed maturities, FVO

1


3

Equity, FVO


2

(34
)
Total realized capital gains (losses)
$

$
1

$
2

$
(31
)

27

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Fair Value Measurements (continued)

Fair Value of Assets and Liabilities using the Fair Value Option
 
September 30, 2017
December 31, 2016
Assets
 
 
Fixed maturities, FVO
 
 
RMBS
$
36

$
82

Total fixed maturities, FVO
$
36

$
82

Financial Instruments Not Carried at Fair Value
Financial Assets and Liabilities Not Carried at Fair Value
 
Fair Value Hierarchy Level
Carrying Amount
Fair Value
 
September 30, 2017
Assets
 
 
 
Policy loans
Level 3
$
1,417

$
1,417

Mortgage loans
Level 3
$
2,880

$
2,973

Liabilities
 
 
 
Other policyholder funds and benefits payable [1]
Level 3
$
6,015

$
6,211

Consumer notes [2] [3]
Level 3
$
9

$
9

Assumed investment contracts [3]
Level 3
$
517

$
540

 
December 31, 2016
Assets
 
 
 
Policy loans
Level 3
$
1,442

$
1,442

Mortgage loans
Level 3
$
2,811

$
2,843

Liabilities
 
 
 
Other policyholder funds and benefits payable [1]
Level 3
$
6,436

$
6,626

Consumer notes [2] [3]
Level 3
$
20

$
20

Assumed investment contracts [3]
Level 3
$
487

$
526

[1]
Excludes group accident and health and universal life insurance contracts, including corporate owned life insurance.
[2]
Excludes amounts carried at fair value and included in preceding disclosures.
[3]
Included in other liabilities in the Condensed Consolidated Balance Sheets.
Fair values for policy loans were determined using current loan coupon rates, which reflect the current rates available under the contracts. As a result, the fair value approximates the carrying value of the policy loans.
Fair values for mortgage loans were estimated using discounted cash flow calculations based on current lending rates for similar type loans. Current lending rates reflect changes in credit spreads and the remaining terms of the loans.
Fair values for other policyholder funds and benefits payable and assumed investment contracts, not carried at fair value, are estimated based on the cash surrender values of the underlying policies or by estimating future cash flows discounted at current interest rates adjusted for credit risk.
Fair values for consumer notes were estimated using discounted cash flow calculations using current interest rates adjusted for estimated loan durations.

28

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
3. Investments

Net Realized Capital Gains (Losses)
 
Three Months Ended September 30,
Nine Months Ended September 30,
(Before-tax)
2017
2016
2017
2016
Gross gains on sales
$
28

$
47

$
141

$
138

Gross losses on sales
(7
)
(6
)
(47
)
(66
)
Net OTTI losses recognized in earnings
(1
)
(12
)
(14
)
(23
)
Valuation allowances on mortgage loans


2


Results of variable annuity hedge program
 
 
 
 
GMWB derivatives, net
15

6

53

(8
)
Macro hedge program
(65
)
(64
)
(189
)
(98
)
Total results of variable annuity hedge program
(50
)
(58
)
(136
)
(106
)
Transactional foreign currency revaluation
3

(8
)
(11
)
(116
)
Non-qualifying foreign currency derivatives
(4
)
12

4

108

Other, net [1]
(2
)
(6
)

(80
)
Net realized capital losses
$
(33
)
$
(31
)
$
(61
)
$
(145
)
[1]
Includes non-qualifying derivatives, excluding variable annuity hedge program and foreign currency derivatives, of $(4) and $(1), respectively, for the three months ended September 30, 2017 and 2016. For the nine months ended September 30, 2017 and 2016, the non-qualifying derivatives, excluding variable annuity hedge program and foreign currency derivatives, total $(7) and $(26), respectively.
Net realized capital gains and losses from investment sales are reported as a component of revenues and are determined on a specific identification basis. Before tax, net gains and losses on sales and impairments previously reported as unrealized gains or losses in AOCI were $20 and $81 for the three and nine months ended September 30, 2017, respectively, and $28 and $49 for the three and nine months ended September 30, 2016, respectively. Proceeds from sales of AFS securities totaled $1.4 billion and $5.9 billion for three and nine months ended September 30, 2017, respectively, and $1.8 billion and $5.7 billion for the three and nine months ended September 30, 2016, respectively.
Recognition and Presentation of Other-Than-Temporary Impairments
The Company will record an other-than-temporary impairment (“OTTI”) for fixed maturities and certain equity securities with debt-like characteristics (collectively “debt securities”) if the Company intends to sell or it is more likely than not that the Company will be required to sell the security before a recovery in value. A corresponding charge is recorded in net realized capital losses equal to the difference between the fair value and amortized cost basis of the security.
The Company will also record an OTTI for those debt securities for which the Company does not expect to recover the entire amortized cost basis. For these securities, the excess of the amortized cost basis over its fair value is separated into the portion representing a credit OTTI, which is recorded in net realized capital losses, and the remaining non-credit amount, which is recorded in OCI. The credit OTTI amount is the excess of its amortized cost basis over the Company’s best estimate of discounted expected future cash flows. The non-credit amount is the excess of the best estimate of the discounted expected future cash flows over the fair value. The Company’s best estimate of discounted expected future cash flows becomes the new cost basis and accretes prospectively into net investment income over the estimated remaining life of the security.
The Company’s best estimate of expected future cash flows is a quantitative and qualitative process that incorporates information received from third-party sources along with certain internal assumptions regarding the future performance. The Company's considerations include, but are not limited to, (a) changes in the financial condition of the issuer and the underlying collateral, (b) whether the issuer is current on contractually obligated interest and principal payments, (c) credit ratings, (d) payment structure of the security and (e) the extent to which the fair value has been less than the amortized cost of the security.
For non-structured securities, assumptions include, but are not limited to, economic and industry-specific trends and fundamentals, security-specific developments, industry earnings multiples and the issuer’s ability to restructure and execute asset sales.
For structured securities, assumptions include, but are not limited to, various performance indicators such as historical and projected default and recovery rates, credit ratings, current and projected delinquency rates, loan-to-value ("LTV") ratios, average cumulative collateral loss rates that vary by vintage year, prepayment speeds, and property value declines. These assumptions require the use of significant management judgment and include the probability of issuer default and estimates regarding timing and amount of expected recoveries which may include estimating the underlying collateral value.

29

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
3. Investments (continued)

The Company will also record an OTTI for equity securities where the decline in the fair value is deemed to be other-than-temporary. A corresponding charge is recorded in net realized capital losses equal to the difference between the fair value and cost basis of the security. The previous cost basis less the impairment becomes the new cost basis. The Company’s evaluation and assumptions used to determine an equity OTTI include, but is not limited to, (a) the length of time and extent to which the fair value has been less than the cost of the security, (b) changes in the financial condition, credit rating and near-term prospects of the issuer, (c) whether the issuer is current on preferred stock dividends and (d) the intent and ability of the Company to retain the investment for a period of time sufficient to allow for recovery. For the remaining equity securities which are determined to be temporarily impaired, the Company asserts its intent and ability to retain those equity securities until the price recovers.
Impairments in Earnings by Type
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
2016
 
2017
2016
Credit impairments
$
1

$
11

 
$
14

$
20

Intent-to-sell impairments


 

1

Impairments on equity securities

1

 

2

Total impairments
$
1

$
12

 
$
14

$
23

Cumulative Credit Impairments
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Before-tax)
2017
2016
 
2017
2016
Balance as of beginning of period
$
(142
)
$
(181
)
 
$
(170
)
$
(211
)
Additions for credit impairments recognized on [1]:
 
 
 
 
 
Securities not previously impaired

(2
)
 
(1
)
(10
)
Securities previously impaired
(1
)
(9
)
 
(13
)
(10
)
Reductions for credit impairments previously recognized on:
 
 
 
 
 
Securities that matured or were sold during the period
2

11

 
35

37

Securities due to an increase in expected cash flows
5

3

 
13

16

Balance as of end of period
$
(136
)
$
(178
)
 
$
(136
)
$
(178
)
[1]
These additions are included in the net OTTI losses recognized in earnings in the Condensed Consolidated Statements of Operations.

30

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
3. Investments (continued)

Available-for-Sale Securities
AFS Securities by Type
 
September 30, 2017
December 31, 2016
 
Cost or Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Non-Credit OTTI [1]
Cost or Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Non-Credit OTTI [1]
ABS
$
959

$
11

$
(15
)
$
955

$

$
1,011

$
9

$
(27
)
$
993

$

CDOs
977

17

(1
)
993


893

49

(2
)
940


CMBS
2,117

52

(18
)
2,151

(1
)
2,135

45

(34
)
2,146

(1
)
Corporate
12,984

1,422

(32
)
14,374


13,677

1,111

(95
)
14,693


Foreign govt./govt. agencies
354

29

(2
)
381


337

18

(10
)
345


Municipal
1,107

126

(1
)
1,232


1,098

97

(6
)
1,189


RMBS
1,564

52

(1
)
1,615


1,742

34

(16
)
1,760


U.S. Treasuries
1,759

187

(4
)
1,942


1,614

153

(14
)
1,753


Total fixed maturities, AFS
21,821

1,896

(74
)
23,643

(1
)
22,507

1,516

(204
)
23,819

(1
)
Equity securities, AFS
139

15

(1
)
153


142

12

(2
)
152


Total AFS securities
$
21,960

$
1,911

$
(75
)
$
23,796

$
(1
)
$
22,649

$
1,528

$
(206
)
$
23,971

$
(1
)
[1]
Represents the amount of cumulative non-credit OTTI losses recognized in OCI on securities that also had credit impairments. These losses are included in gross unrealized losses as of September 30, 2017 and December 31, 2016.
Fixed maturities, AFS, by Contractual Maturity Year
 
September 30, 2017
 
December 31, 2016
Contractual Maturity
Amortized Cost
Fair Value
 
Amortized Cost
Fair Value
One year or less
$
774

$
781

 
$
722

$
727

Over one year through five years
3,995

4,111

 
4,184

4,301

Over five years through ten years
3,158

3,308

 
3,562

3,649

Over ten years
8,277

9,729

 
8,258

9,303

Subtotal
16,204

17,929

 
16,726

17,980

Mortgage-backed and asset-backed securities
5,617

5,714

 
5,781

5,839

Total fixed maturities, AFS
$
21,821

$
23,643

 
$
22,507

$
23,819

Estimated maturities may differ from contractual maturities due to security call or prepayment provisions. Due to the potential for variability in payment speeds (i.e. prepayments or extensions), mortgage-backed and asset-backed securities are not categorized by contractual maturity.
Concentration of Credit Risk
The Company aims to maintain a diversified investment portfolio including issuer, sector and geographic stratification, where applicable, and has established certain exposure limits, diversification standards and review procedures to mitigate credit risk.
The Company had no investment exposure to any credit concentration risk of a single issuer greater than 10% of the Company’s stockholder's equity, other than the U.S. government and certain U.S. government agencies as of September 30, 2017 and December 31, 2016. For further discussion of concentration of credit risk, see the Concentration of Credit Risk section in Note 3 - Investments of Notes to Consolidated Financial Statements in the Company’s 2016 Form 10-K Annual Report.

31

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
3. Investments (continued)

Unrealized Losses on AFS Securities
Unrealized Loss Aging for AFS Securities by Type and Length of Time as of September 30, 2017
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Amortized Cost
Fair Value
Unrealized Losses
 
Amortized Cost
Fair Value
Unrealized Losses
 
Amortized Cost
Fair Value
Unrealized Losses
ABS
$
146

$
145

$
(1
)
 
$
208

$
194

$
(14
)
 
$
354

$
339

$
(15
)
CDOs
471

470

(1
)
 
83

83


 
554

553

(1
)
CMBS
698

688

(10
)
 
146

138

(8
)
 
844

826

(18
)
Corporate
893

882

(11
)
 
608

587

(21
)
 
1,501

1,469

(32
)
Foreign govt./govt. agencies
26

26


 
31

29

(2
)
 
57

55

(2
)
Municipal
45

45


 
10

9

(1
)
 
55

54

(1
)
RMBS
97

96

(1
)
 
23

23


 
120

119

(1
)
U.S. Treasuries
548

545

(3
)
 
12

11

(1
)
 
560

556

(4
)
Total fixed maturities, AFS
2,924

2,897

(27
)
 
1,121

1,074

(47
)
 
4,045

3,971

(74
)
Equity securities, AFS
5

4

(1
)
 
3

3


 
8

7

(1
)
Total securities in an unrealized loss position
$
2,929

$
2,901

$
(28
)
 
$
1,124

$
1,077

$
(47
)
 
$
4,053

$
3,978

$
(75
)
Unrealized Loss Aging for AFS Securities by Type and Length of Time as of December 31, 2016
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Amortized Cost
Fair Value
Unrealized Losses
 
Amortized Cost
Fair Value
Unrealized Losses
 
Amortized Cost
Fair Value
Unrealized Losses
ABS
$
249

$
248

$
(1
)
 
$
265

$
239

$
(26
)
 
$
514

$
487

$
(27
)
CDOs
325

325


 
210

208

(2
)
 
535

533

(2
)
CMBS
1,058

1,030

(28
)
 
139

133

(6
)
 
1,197

1,163

(34
)
Corporate
2,535

2,464

(71
)
 
402

378

(24
)
 
2,937

2,842

(95
)
Foreign govt./govt. agencies
164

155

(9
)
 
6

5

(1
)
 
170

160

(10
)
Municipal
166

160

(6
)
 



 
166

160

(6
)
RMBS
548

535

(13
)
 
198

195

(3
)
 
746

730

(16
)
U.S. Treasuries
385

371

(14
)
 



 
385

371

(14
)
Total fixed maturities, AFS
5,430

5,288

(142
)
 
1,220

1,158

(62
)
 
6,650

6,446

(204
)
Equity securities, AFS
59

57

(2
)
 
5

5


 
64

62

(2
)
Total securities in an unrealized loss position
$
5,489

$
5,345

$
(144
)
 
$
1,225

$
1,163

$
(62
)
 
$
6,714

$
6,508

$
(206
)
As of September 30, 2017, AFS securities in an unrealized loss position consisted of 1,158 securities, primarily in the corporate sector, which were depressed primarily due to an increase in interest rates and/or widening of credit spreads since the securities were purchased. As of September 30, 2017, 92% of these securities were depressed less than 20% of amortized cost. The decrease in unrealized losses during 2017 was primarily attributable to tighter credit spreads and a decrease in long-term interest rates.
Most of the securities depressed for twelve months or more primarily relate to corporate securities and student loan ABS. These investments were primarily depressed because the securities have floating-rate coupons and long-dated maturities, and current credit spreads are wider than when these securities were purchased. In addition, certain corporate securities are primarily depressed due to current spreads which are wider than market spreads at the securities' respective purchase dates. The Company neither has an intention to sell nor does it expect to be required to sell the securities outlined in the preceding discussion.

32

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
3. Investments (continued)

Mortgage Loans
Mortgage Loan Valuation Allowances
Commercial mortgage loans are considered to be impaired when management estimates that, based upon current information and events, it is probable that the Company will be unable to collect amounts due according to the contractual terms of the loan agreement. The Company reviews mortgage loans on a quarterly basis to identify potential credit losses. Among other factors, management reviews current and projected macroeconomic trends, such as unemployment rates, and property-specific factors such as rental rates, occupancy levels, LTV ratios and debt service coverage ratios (“DSCR”). In addition, the Company considers historical, current and projected delinquency rates and property values. Estimates of collectibility require the use of significant management judgment and include the probability and timing of borrower default and loss severity estimates. In addition, cash flow projections may change based upon new information about the borrower's ability to pay and/or the value of underlying collateral such as changes in projected property value estimates.
For mortgage loans that are deemed impaired, a valuation allowance is established for the difference between the carrying amount and estimated value. The mortgage loan's estimated value is most frequently the Company's share of the fair value of the collateral but may also be the Company’s share of either (a) the present value of the expected future cash flows discounted at the loan’s effective interest rate or (b) the loan’s observable market price. A valuation allowance may be recorded for an individual loan or for a group of loans that have an LTV ratio of 90% or greater, a low DSCR or have other lower credit quality characteristics. Changes in valuation allowances are recorded in net realized capital gains and losses. Interest income on impaired loans is accrued to the extent it is deemed collectible and the borrowers continue to make payments under the original or restructured loan terms. The Company stops accruing interest income on loans when it is probable that the Company will not receive interest and principal payments according to the contractual terms of the loan agreement. The company resumes accruing interest income when it determines that sufficient collateral exists to satisfy the full amount of the loan principal and interest payments and when it is probable cash will be received in the foreseeable future. Interest income on defaulted loans is recognized when received.
As of September 30, 2017, commercial mortgage loans had an amortized cost of $2.9 billion, with a valuation allowance of $1 and a carrying value of $2.9 billion. As of December 31, 2016, commercial mortgage loans had an amortized cost of $2.8 billion, with a valuation allowance of $19 and a carrying value of $2.8 billion. Amortized cost represents carrying value prior to valuation allowances, if any.
As of September 30, 2017 and December 31, 2016, the carrying value of mortgage loans that had a valuation allowance was $18 and $31, respectively. There were no mortgage loans held-for-sale as of September 30, 2017 or December 31, 2016. As of September 30, 2017, the Company had an immaterial amount of mortgage loans that have had extensions or restructurings other than what is allowable under the original terms of the contract.
Valuation Allowance Activity
 
Nine Months Ended September 30,
 
2017
2016
Balance as of January 1
$
(19
)
$
(19
)
(Additions)/Reversals
(1
)

Deductions
19


Balance as of September 30
$
(1
)
$
(19
)
The weighted-average LTV ratio of the Company’s commercial mortgage loan portfolio was 48% as of September 30, 2017, while the weighted-average LTV ratio at origination of these loans was 63%. LTV ratios compare the loan amount to the value of the underlying property collateralizing the loan. The loan collateral values are updated no less than annually through reviews of the underlying properties. Factors considered in estimating property values include, among other things, actual and expected property cash flows, geographic market data and the ratio of the property's net operating income to its value. DSCR compares a property’s net operating income to the borrower’s principal and interest payments. As of September 30, 2017, the Company held no delinquent commercial mortgage loans past due by 90 days or more. As of December 31, 2016, the Company held one delinquent commercial mortgage loan past due by 90 days or more. The loan had a total carrying value and valuation allowance of $15 and $16, respectively, and was not accruing income. Following the conclusion of the loan's foreclosure process, the property transferred at its carrying value, net of the valuation allowance, to a real-estate owned investment during 2017.

33

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
3. Investments (continued)

Commercial Mortgage Loans Credit Quality
 
September 30, 2017
 
December 31, 2016
Loan-to-value
Carrying Value
Avg. Debt-Service Coverage Ratio
 
Carrying Value
Avg. Debt-Service Coverage Ratio
Greater than 80%
$
6

1.36x
 
$
20

0.59x
65% - 80%
41

2.31x
 
182

2.17x
Less than 65%
2,833

2.53x
 
2,609

2.61x
Total commercial mortgage loans
$
2,880

2.52x
 
$
2,811

2.55x
Mortgage Loans by Region
 
September 30, 2017
 
December 31, 2016
 
Carrying Value
Percent of Total
 
Carrying Value
Percent of Total
East North Central
$
53

1.8%
 
$
54

1.9%
East South Central
14

0.5%
 
14

0.5%
Middle Atlantic
292

10.1%
 
237

8.4%
New England
92

3.2%
 
93

3.3%
Pacific
841

29.3%
 
814

29.0%
South Atlantic
616

21.4%
 
613

21.8%
West South Central
196

6.8%
 
128

4.6%
Other [1]
776

26.9%
 
858

30.5%
Total mortgage loans
$
2,880

100.0%
 
$
2,811

100.0%
[1]
Primarily represents loans collateralized by multiple properties in various regions.
Mortgage Loans by Property Type
 
 
 
 
 
 
 
September 30, 2017
 
December 31, 2016
 
Carrying Value
Percent of Total
 
Carrying Value
Percent of Total
Commercial
 
 
 
 
 
Industrial
$
728

25.3%
 
$
793

28.2%
Lodging
25

0.9%
 
25

0.9%
Multifamily
664

23.0%
 
535

19.0%
Office
683

23.7%
 
605

21.5%
Retail
578

20.1%
 
611

21.8%
Other
202

7.0%
 
242

8.6%
Total mortgage loans
$
2,880

100.0%
 
$
2,811

100.0%
Variable Interest Entities
The Company is engaged with various special purpose entities and other entities that are deemed to be VIEs primarily as an investor through normal investment activities.
A VIE is an entity that either has investors that lack certain essential characteristics of a controlling financial interest, such as simple majority kick-out rights, or lacks sufficient funds to finance its own activities without financial support provided by other entities. The Company performs ongoing qualitative assessments of its VIEs to determine whether the Company has a controlling financial interest in the VIE and therefore is the primary beneficiary. The Company is deemed to have a controlling financial interest when it has both the ability to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. Based on the Company’s assessment, if it determines it is the primary beneficiary, the Company consolidates the VIE in the Company’s Condensed Consolidated Financial Statements. As of September 30, 2017 and December 31, 2016 the Company did not hold any VIEs for which it was the primary beneficiary.

34

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
3. Investments (continued)

Non-Consolidated VIEs
The Company, through normal investment activities, makes passive investments in limited partnerships and other alternative investments. The Company has determined it is not the primary beneficiary as it has no ability to direct activities that could significantly affect the economic performance of the investments. The Company’s maximum exposure to loss as of September 30, 2017 and December 31, 2016 is limited to the total carrying value of $860 and $859, respectively, which are included in limited partnerships and other alternative investments in the Company's Condensed Consolidated Balance Sheets. As of September 30, 2017 and December 31, 2016, the Company has outstanding commitments totaling $505 and $497, respectively, whereby the Company is committed to fund these investments and may be called by the partnership during the commitment period to fund the purchase of new investments and partnership expenses. These investments are generally of a passive nature in that the Company does not take an active role in management. For further discussion of these investments, see Equity Method Investments within Note 3 - Investments of Notes to Consolidated Financial Statements included in the Company’s 2016 Form 10-K Annual Report.
In addition, the Company also makes passive investments in structured securities issued by VIEs for which the Company is not the manager and, therefore, does not consolidate. These investments are included in ABS, CDOs, CMBS and RMBS in the AFS Securities table and fixed maturities, FVO, in the Company’s Condensed Consolidated Balance Sheets. The Company has not provided financial or other support with respect to these investments other than its original investment. For these investments, the Company determined it is not the primary beneficiary due to the relative size of the Company’s investment in comparison to the principal amount of the structured securities issued by the VIEs, the level of credit subordination which reduces the Company’s obligation to absorb losses or right to receive benefits and the Company’s inability to direct the activities that most significantly impact the economic performance of the VIEs. The Company’s maximum exposure to loss on these investments is limited to the amount of the Company’s investment.
Securities Lending, Repurchase Agreements and Other Collateral Transactions
The Company enters into securities financing transactions as a way to earn additional income or manage liquidity, primarily through securities lending and repurchase agreements.
Securities Lending
Under a securities lending program, the Company lends certain fixed maturities within the corporate, foreign government/government agencies, and municipal sectors as well as equity securities to qualifying third-party borrowers in return for collateral in the form of cash or securities. For domestic and non-domestic loaned securities, respectively, borrowers provide collateral of 102% and 105% of the fair value of the securities lent at the time of the loan. Borrowers will return the securities to the Company for cash or securities collateral at maturity dates generally of 90 days or less. Security collateral on deposit from counterparties in connection with securities lending transactions may not be sold or re-pledged, except in the event of default by the counterparty, and is not reflected on the Company’s Condensed Consolidated Balance Sheets. Additional collateral is obtained if the fair value of the collateral falls below 100% of the fair value of the loaned securities. The agreements provide the counterparty the right to sell or re-pledge the securities loaned. If cash, rather than securities, is received as collateral, the cash is typically invested in short-term investments or fixed maturities and is reported as an asset on the Company's Condensed Consolidated Balance Sheets. Income associated with securities lending transactions is reported as a component of net investment income in the Company’s Condensed Consolidated Statements of Operations.
Repurchase Agreements
From time to time, the Company enters into repurchase agreements to manage liquidity or to earn incremental income. A repurchase agreement is a transaction in which one party (transferor) agrees to sell securities to another party (transferee) in return for cash (or securities), with a simultaneous agreement to repurchase the same securities at a specified price at a later date. These transactions generally have a contractual maturity of ninety days or less. Repurchase agreements include master netting provisions that provide both counterparties the right to offset claims and apply securities held by them with respect to their obligations in the event of a default. Although the Company has the contractual right to offset claims, the Company's current positions do not meet the specific conditions for net presentation.
Under repurchase agreements, the Company transfers collateral of U.S. government and government agency securities and receives cash. For repurchase agreements, the Company obtains cash in an amount equal to at least 95% of the fair value of the securities transferred. The agreements require additional collateral to be transferred when necessary and provide the counterparty the right to sell or re-pledge the securities transferred. The cash received from the repurchase program is typically invested in short-term investments or fixed maturities and is reported as an asset on the Company's Condensed Consolidated Balance Sheets. The Company accounts for the repurchase agreements as collateralized borrowings. The securities transferred under repurchase agreements are included in fixed maturities, AFS with the obligation to repurchase those securities recorded in other liabilities on the Company's Condensed Consolidated Balance Sheets.

35

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
3. Investments (continued)

From time to time, the Company enters into reverse repurchase agreements where the Company purchases securities and simultaneously agrees to resell the same or substantially the same securities. The agreements require additional collateral to be transferred to the Company when necessary and the Company has the right to sell or re-pledge the securities received. The Company accounts for reverse repurchase agreements as collateralized financing.
Securities Lending and Repurchase Agreements
 
September 30, 2017
December 31, 2016
 
Fair Value
Fair Value
Securities Lending Transactions:
 
 
Gross amount of securities on loan
$
655

$
435

Gross amount of associated liability for collateral received [1]
$
671

$
446

 
 
 
Repurchase agreements:
 
 
Gross amount of recognized liabilities for repurchase agreements
$
201

$
118

Gross amount of collateral pledged related to repurchase agreements [2]
$
204

$
121

[1]
Cash collateral received is reinvested in fixed maturities, AFS and short term investments which are included in the Condensed Consolidated Balance Sheets. Amount includes additional securities collateral received of $5 and $26 million which are excluded from the Company's Condensed Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016, respectively.
[2]
Collateral pledged is included within fixed maturities, AFS and short term investments in the Company's Condensed Consolidated Balance Sheets.
Other Collateral Transactions
The Company is required by law to deposit securities with government agencies in certain states in which it conducts business. As of September 30, 2017 and December 31, 2016, the fair value of securities on deposit was $22 and $21, respectively.
For disclosure of collateral in support of derivative transactions, refer to the Derivative Collateral Arrangements section of Note 4 - Derivative Instruments.

36

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
4. Derivative Instruments

The Company utilizes a variety of OTC, OTC-cleared and exchange traded derivative instruments as a part of its overall risk management strategy as well as to enter into replication transactions. Derivative instruments are used to manage risk associated with interest rate, equity market, credit spread, issuer default, price and currency exchange rate risk or volatility. Replication transactions are used as an economical means to synthetically replicate the characteristics and performance of assets that are permissible investments under the Company’s investment policies. The Company also may enter into and has previously issued financial instruments and products that either are accounted for as free-standing derivatives, such as certain reinsurance contracts, or features that as embedded derivative instruments, such as certain GMWB riders included with certain variable annuity products.
Strategies that Qualify for Hedge Accounting
Some of the Company's derivatives satisfy hedge accounting requirements as outlined in Note 1 - Basis of Presentation and Significant Accounting Policies of Notes to Consolidated Financial Statements included in the Company's 2016 Form 10-K Annual Report. Typically, these hedging instruments include interest rate swaps and, to a lesser extent, foreign currency swaps where the terms or expected cash flows of the hedged item closely match the terms of the swap. The interest rate swaps are typically used to manage interest rate duration of certain fixed maturity securities or liability contracts. The hedge strategies by hedge accounting designation include:
Cash Flow Hedges
Interest rate swaps are predominantly used to manage portfolio duration and better match cash receipts from assets with cash disbursements required to fund liabilities. These derivatives primarily convert interest receipts on floating-rate fixed maturity securities to fixed rates. The Company has also entered into forward starting swap agreements to hedge the interest rate exposure related to the future purchase of fixed-rate securities, primarily to hedge interest rate risk inherent in the assumptions used to price certain product liabilities.
Foreign currency swaps are used to convert foreign currency-denominated cash flows related to certain investment receipts and liability payments to U.S. dollars in order to reduce cash flow fluctuations due to changes in currency rates.
Fair Value Hedges
The Company previously used interest rate swaps to hedge the changes in fair value of fixed maturity securities due to fluctuations in interest rates. These swaps were typically used to manage interest rate duration.
Non-qualifying Strategies
Derivative relationships that do not qualify for hedge accounting (“non-qualifying strategies”) primarily include the hedge program for the Company's variable annuity products as well as the hedging and replication strategies that utilize credit default swaps. In addition, hedges of interest rate, foreign currency and equity risk of certain fixed maturities, equities and liabilities do not qualify for hedge accounting.
The non-qualifying strategies include:
Interest Rate Swaps, Swaptions, and Futures
The Company uses interest rate swaps, swaptions, and futures to manage interest rate duration between assets and liabilities in certain investment portfolios. In addition, the Company enters into interest rate swaps to terminate existing swaps, thereby offsetting the changes in value of the original swap. As of September 30, 2017 and December 31, 2016, the notional amount of interest rate swaps in offsetting relationships was $2.7 billion.
Foreign Currency Swaps and Forwards
The Company enters into foreign currency swaps to convert the foreign currency exposures of certain foreign currency-denominated fixed maturity investments to U.S. dollars. The Company had previously entered into foreign currency forwards to hedge non-U.S. dollar denominated cash and equity securities.
Fixed Payout Annuity Hedge
The Company has obligations for certain yen denominated fixed payout annuities under an assumed reinsurance contract. The Company invests in U.S. dollar denominated assets to support the assumed reinsurance liability. The Company has in place pay U.S. dollar, receive yen swap contracts to hedge the currency and yen interest rate exposure between the U.S. dollar denominated assets and the yen denominated fixed liability reinsurance payments.

37

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
4. Derivative Instruments (continued)

Credit Contracts
Credit default swaps are used to purchase credit protection on an individual entity or referenced index to economically hedge against default risk and credit-related changes in the value of fixed maturity securities. Credit default swaps are also used to assume credit risk related to an individual entity or referenced index as a part of replication transactions. These contracts require the Company to pay or receive a periodic fee in exchange for compensation from the counterparty should the referenced security issuers experience a credit event, as defined in the contract. In addition, the Company enters into credit default swaps to terminate existing credit default swaps, thereby offsetting the changes in value of the original swap going forward.
Equity Index Swaps and Options
The Company enters into equity index options to hedge the impact of a decline in the equity markets on the investment portfolio. The Company previously entered into total return swaps to hedge equity risk of specific common stock investments which were accounted for using fair value option in order to align the accounting treatment within net realized capital gains (losses). In addition, the Company formerly offered certain equity indexed products that remain in force, a portion of which contain embedded derivatives that require changes in value to be bifurcated from the host contract. The Company uses equity index swaps to economically hedge the equity volatility risk associated with the equity indexed products.
GMWB Derivatives, net
The Company formerly offered certain variable annuity products with GMWB riders. The GMWB product is a bifurcated embedded derivative (“GMWB product derivatives”) that has a notional value equal to the GRB. The Company uses reinsurance contracts to transfer a portion of its risk of loss due to GMWB. The reinsurance contracts covering GMWB (“GMWB reinsurance contracts”) are accounted for as free-standing derivatives with a notional amount equal to the GRB reinsured.
The Company utilizes derivatives (“GMWB hedging instruments”) as part of a dynamic hedging program designed to hedge a portion of the capital market risk exposures of the non-reinsured GMWB riders. The GMWB hedging instruments hedge changes in interest rates, equity market levels, and equity volatility. These derivatives include customized swaps, interest rate swaps and futures, and equity swaps, options and futures, on certain indices including the S&P 500 index, EAFE index and NASDAQ index. The Company retains the risk for differences between assumed and actual policyholder behavior and between the performance of the actively managed funds underlying the separate accounts and their respective indices.
GMWB Hedging Instruments
 
Notional Amount
 
Fair Value
 
September 30, 2017
December 31, 2016
 
September 30, 2017
December 31, 2016
Customized swaps
$
5,035

$
5,191

 
$
62

$
100

Equity swaps, options, and futures
1,370

1,362

 
(41
)
(27
)
Interest rate swaps and futures
2,986

3,703

 
44

21

Total
$
9,391

$
10,256

 
$
65

$
94

Macro Hedge Program
The Company utilizes equity swaps, options, forwards and futures to provide partial protection against the statutory tail scenario risk arising from GMWB and the GMDB liabilities on the Company's statutory surplus. These derivatives cover some of the residual risks not otherwise covered by the dynamic hedging program.
Modified Coinsurance Reinsurance Contracts
As of September 30, 2017, and December 31, 2016, the Company had approximately $882 and $875, respectively, of invested assets supporting other policyholder funds and benefits payable reinsured under a modified coinsurance arrangement in connection with the sale of the Individual Life business, which was structured as a reinsurance transaction. The assets are primarily held in a trust established by the Company. The Company pays or receives cash quarterly to settle the operating results of the reinsured business, including the investment results. As a result of this modified coinsurance arrangement, the Company has an embedded derivative that transfers to the reinsurer certain unrealized changes in fair value of investments subject to interest rate and credit risk. The notional amount of the embedded derivative reinsurance contracts are the invested assets which are carried at fair value and support the reinsured reserves.

38

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
4. Derivative Instruments (continued)

Derivative Balance Sheet Classification
For reporting purposes, the Company has elected to offset within assets or liabilities based upon the net of the fair value amounts, income accruals, and related cash collateral receivables and payables of OTC derivative instruments executed in a legal entity and with the same counterparty under a master netting agreement, which provides the Company with the legal right of offset. The following fair value amounts do not include income accruals or related cash collateral receivables and payables, which are netted with derivative fair value amounts to determine balance sheet presentation. Derivatives in the Company’s separate accounts, where the associated gains and losses accrue directly to policyholders, are not included in the table below. The Company’s derivative instruments are held for risk management purposes, unless otherwise noted in the following table. The notional amount of derivative contracts represents the basis upon which pay or receive amounts are calculated and is presented in the table to quantify the volume of the Company’s derivative activity. Notional amounts are not necessarily reflective of credit risk. The following tables exclude investments that contain an embedded credit derivative for which the Company has elected the fair value option. For further discussion, see the Fair Value Option section in Note 2 - Fair Value Measurements of Notes to Condensed Consolidated Financial Statements.

39

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
4. Derivative Instruments (continued)

Derivative Balance Sheet Presentation
 
Net Derivatives
Asset Derivatives
Liability Derivatives
 
Notional Amount
Fair Value
Fair Value
Fair Value
 
Sep 30, 2017
Dec 31, 2016
Sep 30, 2017
Dec 31, 2016
Sep 30, 2017
Dec 31, 2016
Sep 30, 2017
Dec 31, 2016
Cash flow hedges
 
 
 
 
 
 
 
 
Interest rate swaps
$
1,656

$
1,794

$
1

$
7

$
6

$
9

$
(5
)
$
(2
)
Foreign currency swaps
178

164

(11
)
(16
)
6

10

(17
)
(26
)
Total cash flow hedges
1,834

1,958

(10
)
(9
)
12

19

(22
)
(28
)
Non-qualifying strategies
 
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
 
Interest rate swaps and futures
3,240

2,774

(387
)
(411
)
281

249

(668
)
(660
)
Foreign exchange contracts
 
 
 
 
 
 
 
 
Foreign currency swaps and forwards
37

382


36


36



Fixed payout annuity hedge
804

804

(255
)
(263
)


(255
)
(263
)
Credit contracts
 
 
 
 
 
 
 
 
Credit derivatives that purchase credit protection
85

131

(3
)
(3
)


(3
)
(3
)
Credit derivatives that assume credit risk [1]
377

458

2

4

8

5

(6
)
(1
)
Credit derivatives in offsetting positions
590

1,006

2

(1
)
10

16

(8
)
(17
)
Equity contracts
 
 
 
 
 
 
 
 
Equity index swaps and options

100




33


(33
)
Variable annuity hedge program
 
 
 
 
 
 
 
 
GMWB product derivatives [2]
11,797

13,114

(93
)
(241
)


(93
)
(241
)
GMWB reinsurance contracts
2,450

2,709

51

73

51

73



GMWB hedging instruments
9,391

10,256

65

94

130

190

(65
)
(96
)
Macro hedge program
8,157

6,532

166

178

192

201

(26
)
(23
)
Other
 
 
 
 
 
 
 
 
Modified coinsurance reinsurance contracts
882

875

57

68

57

68



Total non-qualifying strategies
37,810

39,141

(395
)
(466
)
729

871

(1,124
)
(1,337
)
Total cash flow hedges and non-qualifying strategies
$
39,644

$
41,099

$
(405
)
$
(475
)
$
741

$
890

$
(1,146
)
$
(1,365
)
Balance Sheet Location
 
 
 
 
 
 
 
 
Fixed maturities, available-for-sale
$
35

$
121

$

$

$

$

$

$

Other investments
11,614

12,732

197

235

258

325

(61
)
(90
)
Other liabilities
12,865

11,498

(617
)
(577
)
375

424

(992
)
(1,001
)
Reinsurance recoverables
3,333

3,584

108

141

108

141



Other policyholder funds and benefits payable
11,797

13,164

(93
)
(274
)


(93
)
(274
)
Total derivatives
$
39,644

$
41,099

$
(405
)
$
(475
)
$
741

$
890

$
(1,146
)
$
(1,365
)
[1]
The derivative instruments related to this strategy are held for other investment purposes.
[2]
These derivatives are embedded within liabilities and are not held for risk management purposes.
Offsetting of Derivative Assets/Liabilities
The following tables present the gross fair value amounts, the amounts offset, and net position of derivative instruments eligible for offset in the Company's Condensed Consolidated Balance Sheets. Amounts offset include fair value amounts, income accruals and related cash collateral receivables and payables associated with derivative instruments that are traded under a common master netting agreement, as described in the preceding discussion. Also included in the tables are financial collateral receivables and payables, which are contractually permitted to be offset upon an event of default, although are disallowed for offsetting under U.S. GAAP.

40

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
4. Derivative Instruments (continued)

Offsetting Derivative Assets and Liabilities
 
(i)
 
(ii)
 
(iii) = (i) - (ii)
(iv)
 
(v) = (iii) - (iv)
 
 
 
 
 
Net Amounts Presented in the Statement of Financial Position
 
Collateral Disallowed for Offset in the Statement of Financial Position
 
 
 
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Statement of Financial Position
 
Derivative Assets [1]
(Liabilities) [2]
 
Accrued Interest and Cash Collateral Received [3]
Pledged [2]
 
Financial Collateral Received [4]
 
Net Amount
As of September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Other investments
$
633

 
$
551

 
$
197

 
$
(115
)
 
$
41

 
$
41

Other liabilities
$
(1,053
)
 
$
(265
)
 
$
(617
)
 
$
(171
)
 
$
(785
)
 
$
(3
)
As of December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Other investments
$
749

 
$
588

 
$
235

 
$
(74
)
 
$
101

 
$
60

Other liabilities
$
(1,091
)
 
$
(396
)
 
$
(577
)
 
$
(118
)
 
$
(655
)
 
$
(40
)
[1]
Included in other invested assets in the Company's Condensed Consolidated Balance Sheets.
[2]
Included in other liabilities in the Company's Condensed Consolidated Balance Sheets and is limited to the net derivative receivable associated with each counterparty.
[3]
Included in other investments in the Company's Condensed Consolidated Balance Sheets and amount presented is limited to the net derivative payable associated with each counterparty.
[4]
Excludes collateral associated with exchange-traded derivative instruments.
Cash Flow Hedges
For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of OCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing hedge ineffectiveness are recognized in current period earnings. All components of each derivative’s gain or loss were included in the assessment of hedge effectiveness.
Derivatives in Cash Flow Hedging Relationships
 
Gain (Loss) Recognized in OCI on Derivative (Effective Portion)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
2016
 
2017
2016
Interest rate swaps
$
(3
)
$
(16
)
 
$
(3
)
$
30

Foreign currency swaps
2

1

 
6

2

Total
$
(1
)
$
(15
)
 
$
3

$
32

Derivatives in Cash Flow Hedging Relationships
 
 
Gain or (Loss) Reclassified from AOCI into Income (Effective Portion)
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2017
2016
 
2017
2016
Interest rate swaps
Net realized capital gains (losses)
$

$

 
$
(1
)
$

Interest rate swaps
Net investment income
7

6

 
20

19

Foreign currency swaps
Net realized capital gains (losses)
3

1

 
9

3

Total
 
$
10

$
7

 
$
28

$
22

During the three and nine months ended September 30, 2017, and September 30, 2016, the Company had no ineffectiveness recognized in income within net realized capital gains (losses).

41

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
4. Derivative Instruments (continued)

As of September 30, 2017, the before-tax deferred net gains on derivative instruments recorded in AOCI that are expected to be reclassified to earnings during the next twelve months are $11. This expectation is based on the anticipated interest payments on hedged investments in fixed maturity securities that will occur over the next twelve months, at which time the Company will recognize the deferred net gains (losses) as an adjustment to net investment income over the term of the investment cash flows.
During the three and nine months ended September 30, 2017, and September 30, 2016, the Company had no net reclassifications from AOCI to earnings resulting from the discontinuance of cash-flow hedges due to forecasted transactions that were no longer probable of occurring.
Fair Value Hedges
For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivatives as well as the offsetting loss or gain on the hedged items attributable to the hedged risk are recognized in current earnings. The Company includes the gain or loss on the derivative in the same line item as the offsetting loss or gain on the hedged item. All components of each derivative’s gain or loss were included in the assessment of hedge effectiveness.
For three and nine months ended September 30, 2017, the Company did not hold any fair value hedges. For the three and nine months ended ended September 30, 2016, the Company recognized in income immaterial gains and (losses) for the ineffective portion of fair value hedges related to the derivative instrument and the hedged item.
Non-qualifying Strategies
For non-qualifying strategies, including embedded derivatives that are required to be bifurcated from their host contracts and accounted for as derivatives, the gain or loss on the derivative is recognized currently in earnings within net realized capital gains (losses).
Non-Qualifying Strategies Recognized within Net Realized Capital Gains (Losses)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
2016
 
2017
2016
Variable annuity hedge program
 
 
 
 
 
GMWB product derivatives
$
58

$
87

 
$
198

$
(22
)
GMWB reinsurance contracts
(9
)
(15
)
 
(33
)
(2
)
GMWB hedging instruments
(34
)
(66
)
 
(112
)
16

Macro hedge program
(65
)
(64
)
 
(189
)
(98
)
Total variable annuity hedge program
(50
)
(58
)
 
(136
)
(106
)
Foreign exchange contracts
 
 
 
 
 
Foreign currency swaps and forwards
(1
)
(1
)
 
(4
)
(5
)
Fixed payout annuity hedge
(3
)
13

 
8

109

Total foreign exchange contracts
(4
)
12

 
4

104

Other non-qualifying derivatives
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
Interest rate swaps, swaptions, and futures
(5
)
(3
)
 
3

(11
)
Credit contracts
 
 
 
 
 
Credit derivatives that purchase credit protection
2

(4
)
 
14

(7
)
Credit derivatives that assume credit risk
(1
)
9

 
(10
)
10

Equity contracts
 
 
 
 
 
Equity index swaps and options

(2
)
 
(4
)
30

Other
 
 
 
 
 
Modified coinsurance reinsurance contracts

(1
)
 
(10
)
(48
)
Total other non-qualifying derivatives
(4
)
(1
)
 
(7
)
(26
)
Total [1]
$
(58
)
$
(47
)
 
$
(139
)
$
(28
)
[1]
Excludes investments that contain an embedded credit derivative for which the Company has elected the fair value option. For further discussion, see the Fair Value Option section in Note 2 - Fair Value Measurements.

42

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
4. Derivative Instruments (continued)

Credit Risk Assumed through Credit Derivatives
The Company enters into credit default swaps that assume credit risk of a single entity or referenced index in order to synthetically replicate investment transactions that are permissible under the Company's investment policies. The Company will receive periodic payments based on an agreed upon rate and notional amount and will only make a payment if there is a credit event. A credit event payment will typically be equal to the notional value of the swap contract less the value of the referenced security issuer’s debt obligation after the occurrence of the credit event. A credit event is generally defined as a default on contractually obligated interest or principal payments or bankruptcy of the referenced entity. The credit default swaps in which the Company assumes credit risk primarily reference investment grade single corporate issuers and baskets, which include standard diversified portfolios of corporate and CMBS issuers. The diversified portfolios of corporate issuers are established within sector concentration limits and may be divided into tranches that possess different credit ratings.
Credit Derivatives by Type
As of September 30, 2017
 
 
 
 
Underlying Referenced
Credit Obligation(s) [1]
 
 
Credit Derivative type by derivative
risk exposure
Notional
Amount [2]
Fair
Value
Weighted
Average
Years to
Maturity
Type
Average
Credit
Rating
Offsetting
Notional
Amount [3]
Offsetting
Fair Value [3]
Single name credit default swaps
 
 
 
 
 
 
 
Investment grade risk exposure
$
132

$
3

4 years
Corporate Credit/ Foreign Gov.
A-
$
15

$

Below investment grade risk exposure
43


Less than 1 Year
Corporate Credit
B-
43


Basket credit default swaps [4]
 
 
 
 
 
 
 
Investment grade risk exposure
419


3 years
Corporate Credit
BBB+
169


Below investment grade risk exposure
22

2

4 years
Corporate Credit
B+
22


Investment grade risk exposure
22

(1
)
3 years
CMBS Credit
A+
12


Below investment grade risk exposure
34

(6
)
Less than 1 Year
CMBS Credit
CCC+
34

6

Total [5]
$
672

$
(2
)
 
 
 
$
295

$
6

As of December 31, 2016
 
 
 
 
Underlying Referenced
Credit Obligation(s) [1]
 
 
Credit Derivative type by derivative
risk exposure
Notional
Amount [2]
Fair
Value
Weighted
Average
Years to
Maturity
Type
Average
Credit
Rating
Offsetting
Notional
Amount [3]
Offsetting
Fair Value [3]
Single name credit default swaps
 
 
 
 
 
 
 
Investment grade risk exposure
$
88

$

3 years
Corporate Credit/ Foreign Gov.
A
$
45

$

Below investment grade risk exposure
43


1 year
Corporate Credit
B-
43


Basket credit default swaps [4]
 
 
 
 
 
 
 
Investment grade risk exposure
493

5

3 years
Corporate Credit
BBB+
225

(1
)
Below investment grade risk exposure
22

2

4 years
Corporate Credit
B
22

(2
)
Investment grade risk exposure
158

(2
)
2 years
CMBS Credit
AA+
111

1

Below investment grade risk exposure
57

(13
)
1 year
CMBS Credit
CCC
57

13

Embedded credit derivatives
 
 
 
 
 
 
 
Investment grade risk exposure
100

100

Less than 1 year
Corporate Credit
A+


Total [5]
$
961

$
92

 
 
 
$
503

$
11

[1]
The average credit ratings are based on availability and are generally the midpoint of the avaliable ratings among Moody’s, S&P, Fitch, and Morningstar. If no rating is available from a rating agency, then an internally developed rating is used.

43

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
4. Derivative Instruments (continued)

[2]
Notional amount is equal to the maximum potential future loss amount. These derivatives are governed by agreements, clearing house rules, and applicable law, which include collateral posting requirements. There is no additional specific collateral related to these contracts or recourse provisions included in the contracts to offset losses.
[3]
The Company has entered into offsetting credit default swaps to terminate certain existing credit default swaps, thereby offsetting the future changes in value of, or losses paid related to, the original swap.
[4]
Includes $1.2 billion and $1.8 billion as of September 30, 2017 and December 31, 2016 of notional amount on swaps of standard market indices of diversified portfolios of corporate and CMBS issuers referenced through credit default swaps. These swaps are subsequently valued based upon the observable standard market index.
[5]
Excludes investments that contain an embedded credit derivative for which the Company has elected the fair value option. For further discussion, see the Fair Value Option section in Note 2 - Fair Value Measurements.
Derivative Collateral Arrangements
The Company enters into various collateral arrangements in connection with its derivative instruments, which require both the pledging and accepting of collateral. As of September 30, 2017 and December 31, 2016, the Company pledged cash collateral associated with derivative instruments with a fair value of $37 and $134, respectively, for which the collateral receivable has been primarily included within other assets on the Company's Condensed Consolidated Balance Sheets. The Company also pledged securities collateral associated with derivative instruments with a fair value of $841 and $830, respectively, as of September 30, 2017 and December 31, 2016, which have been included in fixed maturities on the Condensed Consolidated Balance Sheets. The counterparties have the right to sell or re-pledge these securities.
As of September 30, 2017 and December 31, 2016 the Company accepted cash collateral associated with derivative instruments of $404 and $333, respectively, which was invested and recorded in the Company's Condensed Consolidated Balance Sheets in fixed maturities and short-term investments with corresponding amounts recorded in other investments or other liabilities as determined by the Company's election to offset on the balance sheet. The Company also accepted securities collateral as of September 30, 2017 and December 31, 2016, with a fair value of $42 and $107, respectively, of which the Company has the ability to sell or repledge $10 and $81, respectively. As of September 30, 2017 and December 31, 2016, the Company had no repledged securities and did not sell any securities. In addition, as of September 30, 2017 and December 31, 2016, non-cash collateral accepted was held in separate custodial accounts and was not included in the Company’s Condensed Consolidated Balance Sheets.
5. Deferred Policy Acquisition Costs
Changes in the DAC Balance
 
Nine months ended September 30,
 
2017
2016
Balance, beginning of period
$
463

$
542

Deferred costs
2

7

Amortization — DAC
(42
)
(29
)
Amortization — Unlock benefit (charge), pre-tax
17

(71
)
Adjustments to unrealized gains and losses on securities AFS and other
(14
)
(7
)
Balance, end of period
$
426

$
442



44

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
6. Reserves for Future Policy Benefits and Separate Account Liabilities

Changes in Reserves for Future Policy Benefits
 
Universal Life-Type Contracts
 
 
 
GMDB/GMWB [1]
Universal Life Secondary
Guarantees
Traditional Annuity and Other Contracts [2]
Total Future Policy Benefits
Liability balance as of January 1, 2017
$
786

$
2,627

$
10,587

$
14,000

Incurred [3]
57

231

523

811

Paid
(76
)

(590
)
(666
)
Change in unrealized investment gains and losses


135

135

Liability balance as of September 30, 2017
$
767

$
2,858

$
10,655

$
14,280

Reinsurance recoverable asset, as of January 1, 2017
$
432

$
2,627

$
1,697

$
4,756

Incurred [3]
37

231

33

301

Paid
(63
)

(45
)
(108
)
Reinsurance recoverable asset, as of September 30, 2017
$
406

$
2,858

$
1,685

$
4,949

 
Universal Life-Type Contracts
 
 
 
GMDB/GMWB [1]
Universal Life Secondary
Guarantees
Traditional Annuity and Other Contracts [2]
Total Future Policy Benefits
Liability balance as of January 1, 2016
$
863

$
2,313

$
10,674

$
13,850

Incurred [3]
50

234

537

821

Paid
(92
)

(587
)
(679
)
Change in unrealized investment gains and losses


419

419

Liability balance as of September 30, 2016
$
821

$
2,547

$
11,043

$
14,411

Reinsurance recoverable asset, as of January 1, 2016
$
523

$
2,313

$
1,823

$
4,659

Incurred [3]
40

234

(25
)
249

Paid
(73
)

(48
)
(121
)
Reinsurance recoverable asset, as of September 30, 2016
$
490

$
2,547

$
1,750

$
4,787

[1]
These liability balances include all GMDB benefits, plus the life-contingent portion of GMWB benefits in excess of the return of the GRB. GMWB benefits up to the return of the GRB are embedded derivatives held at fair value and are excluded from these balances.
[2] Represents life-contingent reserves for which the company is subject to insurance and investment risk.
[3] Includes the portion of assessments established as additions to reserves as well as changes in estimates affecting the reserves.

45

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
6. Reserves for Future Policy Benefits and Separate Account Liabilities (continued)

Account Value by GMDB/GMWB Type as of September 30, 2017
 
Account Value (“AV”) [8]
Net Amount at Risk (“NAR”) [9]
Retained Net Amount at Risk (“RNAR”) [9]
Weighted Average Attained Age of Annuitant
Maximum anniversary value (“MAV”) [1]
 
 
 
 
MAV only
$
13,674

$
2,047

$
305

71
With 5% rollup [2]
1,149

143

45

72
With Earnings Protection Benefit Rider (“EPB”) [3]
3,482

522

80

71
With 5% rollup & EPB
476

105

23

73
Total MAV
18,781

2,817

453

 
Asset Protection Benefit (APB) [4]
10,175

102

70

70
Lifetime Income Benefit (LIB) – Death Benefit [5]
454

4

4

70
Reset [6] (5-7 years)
2,445

6

5

70
Return of Premium [7] /Other
8,852

55

52

71
Subtotal Variable Annuity with GMDB/GMWB [10]
$
40,707

$
2,984

$
584

71
Less: General Account Value with GMDB/GMWB
3,665

 
 
 
Subtotal Separate Account Liabilities with GMDB
37,042

 
 
 
Separate Account Liabilities without GMDB
78,584

 
 
 
Total Separate Account Liabilities
$
115,626

 
 
 
[1]
MAV GMDB is the greatest of current AV, net premiums paid and the highest AV on any anniversary before age 80 years (adjusted for withdrawals).
[2]
Rollup GMDB is the greatest of the MAV, current AV, net premium paid and premiums (adjusted for withdrawals) accumulated at generally 5% simple interest up to the earlier of age 80 years or 100% of adjusted premiums.
[3]
EPB GMDB is the greatest of the MAV, current AV, or contract value plus a percentage of the contract’s growth. The contract’s growth is AV less premiums net of withdrawals, subject to a cap of 200% of premiums net of withdrawals.
[4]
APB GMDB is the greater of current AV or MAV, not to exceed current AV plus 25% times the greater of net premiums and MAV (each adjusted for premiums in the past 12 months).
[5]
LIB GMDB is the greatest of current AV; net premiums paid; or, for certain contracts, a benefit amount generally based on market performance that ratchets over time.
[6]
Reset GMDB is the greatest of current AV, net premiums paid and the most recent five to seven year anniversary AV before age 80 years (adjusted for withdrawals).
[7]
ROP GMDB is the greater of current AV or net premiums paid.
[8]
AV includes the contract holder’s investment in the separate account and the general account.
[9]
NAR is defined as the guaranteed minimum death benefit in excess of the current AV. RNAR represents NAR reduced for reinsurance. NAR and RNAR are highly sensitive to equity markets movements and increase when equity markets decline.
[10]
Some variable annuity contracts with GMDB also have a life-contingent GMWB that may provide for benefits in excess of the return of the GRB. Such contracts included in this amount have $6.3 billion of total account value and weighted average attained age of 73 years. There is no NAR or retained NAR related to these contracts. Includes $1.7 billion of account value for contracts that had a GMDB at issue but no longer have a GMDB due to certain elections made by policyholders or their beneficiaries.
Account Balance Breakdown of Variable Separate Account Investments for Contracts with Guarantees
Asset type
As of September 30, 2017
As of December 31, 2016
Equity securities (including mutual funds)
$
34,267

$
33,880

Cash and cash equivalents
2,775

3,045

Total
$
37,042

$
36,925

As of September 30, 2017 and December 31, 2016, approximately 15% and 16%, respectively, of the equity securities (including mutual funds) in the preceding table were funds invested in fixed income securities and approximately 85% and 84%, respectively, were funds invested in equity securities.
For further information on guaranteed living benefits that are accounted for at fair value, such as GMWB, see Note 2 - Fair Value Measurements of Notes to Condensed Consolidated Financial Statements.


46

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
7. Income Taxes

A reconciliation of the tax provision at the U.S. Federal statutory rate to the provision for income taxes is as follows:
 
Three Months Ended September 30,
Nine Months Ended September 30,
 
2017
2016
2017
2016
Tax provision at the U.S. federal statutory rate
$
25

$
32

$
106

$
87

Dividends-received deduction ("DRD")
(36
)
(16
)
(72
)
(57
)
Foreign related investments
(2
)
(3
)
(5
)
(6
)
Other
1


3


Provision for income taxes
$
(12
)
$
13

$
32

$
24

The separate account DRD is estimated for the current year using information from the most recent return, adjusted for current year equity market performance and other appropriate factors, including estimated levels of corporate dividend payments and level of policy owner equity account balances. The actual current year DRD can vary from estimates based on, but not limited to, changes in eligible dividends received in the mutual funds, amounts of distribution from these mutual funds, amounts of short-term capital gains at the mutual fund level and the Company’s taxable income before the DRD. The Company evaluates its DRD computations on a quarterly basis.
The federal audit of the years 2012 and 2013 began in March 2015 and was completed as of March 31, 2017 with no additional adjustments. Management believes that adequate provision has been made in the financial statements for any potential assessments that may result from tax examinations and other tax-related matters for all open tax years.
The Company believes it is more likely than not that all deferred tax assets will be fully realized. In assessing the need for a valuation allowance, management considered future taxable temporary difference reversals, future taxable income exclusive of reversing temporary differences and carryovers, taxable income in open carry back years and other tax planning strategies. From time to time, tax planning strategies could include holding a portion of debt securities with market value losses until recovery, altering the level of tax exempt securities held, making investments which have specific tax characteristics, and business considerations such as asset-liability matching.
Net deferred income taxes include the future tax benefits associated with the net operating loss carryover, alternative minimum tax credit carryover and foreign tax credit carryover as follows:
Net Operating Loss Carryover
As of September 30, 2017 and December 31, 2016, the net deferred tax asset included the expected tax benefit attributable to net operating losses of $3,241 and $3,301, respectively. If not utilized, $3,238 of the losses will expire from 2023 to 2033. Utilization of these loss carryovers is dependent upon the generation of sufficient future taxable income.
Most of the net operating loss carryover originated from the Company's U.S. annuity business, including from the hedging program. Given the continued run off of the U.S. fixed and variable annuity business, the exposure to taxable losses is significantly lessened. Accordingly, given the expected future consolidated group earnings, the Company believes sufficient taxable income will be generated in the future to utilize its net operating loss carryover. Although the Company believes there will be sufficient future taxable income to fully recover the remainder of the net operating loss carryover, the Company's estimate of the likely realization may change over time.
Alternative Minimum Tax Credit and Foreign Tax Credit Carryover
As of September 30, 2017 and December 31, 2016, the net deferred tax asset included the expected tax benefit attributable to alternative minimum tax credit carryover of $241 and $232 and foreign tax credit carryover of $29 and $40, respectively. The alternative minimum tax credits have no expiration date and the foreign tax credit carryovers expire from 2022 to 2024. These credits are available to offset regular federal income taxes from future taxable income and although the Company believes there will be sufficient future regular federal taxable income, there can be no certainty that future events will not affect the ability to utilize the credits. Additionally, the use of the foreign tax credits generally depends on the generation of sufficient taxable income to first utilize all of the U.S. net operating loss carryover. However, the Company has identified and purchased certain investments which allow for utilization of the foreign tax credits without first using the net operating loss carryover. Consequently, the Company believes it is more likely than not the foreign tax credit carryover will be fully realized. Accordingly, no valuation allowance has been provided on either the alternative minimum tax carryover or foreign tax credit carryover.

47

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
8. Commitments and Contingencies


Litigation
The Company is involved in claims litigation arising in the ordinary course of business with respect to life, disability and accidental death and dismemberment insurance policies and with respect to annuity contracts. The Company accounts for such activity through the establishment of reserves for future policy benefits. Management expects that the ultimate liability, if any, with respect to such ordinary-course claims litigation, after consideration of provisions made for potential losses and costs of defense, will not be material to the consolidated financial condition, results of operations or cash flows of the Company.
The Company is also involved in other kinds of legal actions, some of which assert claims for substantial amounts. Such actions have alleged, for example, bad faith in the handling of insurance claims and improper sales practices in connection with the sale of insurance and investment products. Some of these actions also seek punitive damages. Management expects that the ultimate liability, if any, with respect to such lawsuits, after consideration of provisions made for estimated losses, will not be material to the consolidated financial condition of the Company. Nonetheless, given the large or indeterminate amounts sought in certain of these actions, and the inherent unpredictability of litigation, it is possible that an adverse outcome in certain matters could, from time to time, have a material adverse effect on the Company’s consolidated financial condition, results of operations or cash flows in particular quarterly or annual periods.
Derivative Commitments
Certain of the Company’s derivative agreements contain provisions that are tied to the financial strength ratings, as set by nationally recognized statistical agencies, of the individual legal entity that entered into the derivative agreement. If the legal entity’s financial strength were to fall below certain ratings, the counterparties to the derivative agreements could demand immediate and ongoing full collateralization and in certain instances enable the counterparties to terminate the agreements and demand immediate settlement of all outstanding derivative positions traded under each impacted bilateral agreement. The settlement amount is determined by netting the derivative positions transacted under each agreement. If the termination rights were to be exercised by the counterparties, it could impact the legal entity’s ability to conduct hedging activities by increasing the associated costs and decreasing the willingness of counterparties to transact with the legal entity. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position as of September 30, 2017 is $802. For this $802, the legal entities have posted collateral of $843 in the normal course of business. In addition, the Company has posted collateral of $31 associated with a customized GMWB derivative. Based on derivative market values as of September 30, 2017, a downgrade of one level below the current financial strength ratings by either Moody's or S&P would require an additional $7 of assets to be posted as collateral. These collateral amounts could change as derivative market values change, as a result of changes in our hedging activities or to the extent changes in contractual terms are negotiated. The nature of the collateral that we post, if required, would be primarily in the form of U.S. Treasury bills, U.S. Treasury notes and government agency securities.
On October 23, 2017, Moody’s lowered its counterparty credit and insurer financial strength ratings on Hartford Life and Annuity Insurance Company and Hartford Life Insurance Company to Baa3.  Given this downgrade action, termination rating triggers in three derivative counterparty relationships were impacted.  The Company is in the process of re-negotiating the rating triggers which it expects to successfully complete.  Accordingly, the Company does not expect the current hedging programs to be adversely impacted by the announcement of the downgrade of Hartford Life and Annuity Insurance Company and Hartford Life Insurance Company.  As of September 30, 2017, the notional amount and fair value related to these three derivative counterparties is $989 and $43, respectively.  These counterparties have not exercised their right to terminate these relationships and, if they did, would have to settle all of the outstanding derivatives.  In addition, as a result of the downgrade of Hartford Life and Annuity Insurance Company, the Company is required to post an additional $7 of collateral related to a single counterparty relationship.


48

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
9. Transactions with Affiliates

Parent Company Transactions
Transactions of the Company with Hartford Fire Insurance Company ("Hartford Fire"), Hartford Holdings Inc. ("HHI") and its affiliates relate principally to tax settlements, reinsurance, insurance coverage, rental and service fees, payment of dividends and capital contributions, and employee costs. In addition, the Company has issued structured settlement contracts to fund claims settlements of property casualty insurance companies and self-insured entities. In many cases, the structured settlement contracts are to fund claim settlements of the Company's affiliated property and casualty companies whereby these property and casualty companies transferred funds to another affiliate of the Company to purchase the contracts. The Company had $55 and $53 of reserves for claim annuities purchased by affiliated entities as of September 30, 2017 and December 31, 2016, respectively. Reserves for annuities issued by the Company to The Hartford's property and casualty subsidiaries to fund structured settlement payments where the claimant has not released The Hartford's property and casualty subsidiaries of their primary obligation totaled $691 and $711 as of September 30, 2017 and December 31, 2016, respectively.
Substantially all general insurance expenses related to the Company are initially paid by The Hartford. Expenses are allocated to the Company using specific identification if available, or other applicable methods, that would include a blend of revenue, expense and capital.
The Company issued a guarantee to retirees and vested terminated employees of The Hartford Retirement Plan for U.S. Employees (the "Plan”) who retired or terminated prior to January 1, 2004 (the "Retirees"). The Plan is sponsored by The Hartford. The guarantee is a commitment to pay all accrued benefits which the Retiree or the Retiree’s designated beneficiary is entitled to receive under the Plan in the event the Plan assets are insufficient to fund those benefits and The Hartford is unable to provide sufficient assets to fund those benefits. In June 2017, The Hartford purchased a group annuity contract with The Prudential Insurance Company of America and settled a portion of The Hartford's benefit obligation, which included, among others, the Retirees. With the purchase of this group annuity contract, The Hartford has transferred its responsibility for the Retirees' pension benefits to The Prudential Insurance Company of America, thereby causing the Plan to have no further liability with respect to any and all of the benefits of the Retirees. Accordingly, the discharge of the underlying pension obligation has extinguished the Company's guarantee.
In 1990, Hartford Fire guaranteed the obligations of the Company with respect to life, accident and health insurance and annuity contracts issued after January 1, 1990. The guarantee was issued to provide an increased level of security to potential purchasers of the Company’s products. Although the guarantee was terminated in 1997, it still covers policies that were issued from 1990 to 1997. As of September 30, 2017 and December 31, 2016, no recoverables have been recorded for this guarantee, as the Company was able to meet these policyholder obligations.
Reinsurance Ceded to Affiliates
The Company maintains a reinsurance agreement with Hartford Life and Accident Insurance Company ("HLA") whereby the Company cedes both group life and group accident and health risk. Under this agreement, the Company ceded group life premium of $7 and $22 for the three and nine months ended September 30, 2017 and $10 and $32 for the three and nine months ended September 30, 2016, respectively. The Company ceded accident and health premiums to HLA of $16 and $52 for the three and nine months ended September 30, 2017 and $15 and $67 for the three and nine months ended September 30, 2016, respectively.

49

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
10. Changes in and Reclassifications From Accumulated Other Comprehensive Income

Changes in AOCI, Net of Tax for the Three Months Ended September 30, 2017
 
Changes in
 
Net Unrealized Gain on Securities
Net Gain on Cash Flow Hedging Instruments
Foreign Currency Translation Adjustments
AOCI, net of tax
Beginning balance
$
899

$
23

$
(3
)
$
919

OCI before reclassifications
45

(1
)

44

  Amounts reclassified from AOCI
(13
)
(6
)

(19
)
     OCI, net of tax
32

(7
)

25

Ending balance
$
931

$
16

$
(3
)
$
944

Changes in AOCI, Net of Tax for the Nine Months Ended September 30, 2017
 
Changes in
 
Net Unrealized Gain on Securities
Net Gain on Cash Flow Hedging Instruments
Foreign Currency Translation Adjustments
AOCI, net of tax
Beginning balance
$
693

$
32

$
(3
)
$
722

OCI before reclassifications
291

2


293

Amounts reclassified from AOCI
(53
)
(18
)

(71
)
     OCI, net of tax
238

(16
)

222

Ending balance
$
931

$
16

$
(3
)
$
944

Reclassifications from AOCI
 
Three Months Ended September 30, 2017
Nine Months Ended September 30, 2017
Affected Line Item in the Condensed
Consolidated Statement of Operations
Net Unrealized Gain on Securities
 
 
 
Available-for-sale securities
$
20

$
81

Net realized capital losses
 
20

81

Income before income taxes
 
7

28

Income tax expense (benefit)
 
13

53

Net income
Net Gains on Cash Flow Hedging Instruments
 
 
 
Interest rate swaps

(1
)
Net realized capital losses
Interest rate swaps
7

20

Net investment income
Foreign currency swaps
3

9

Net realized capital losses
 
10

28

Income before income taxes
 
4

10

Income tax expense (benefit)
 
6

18

Net income
Total amounts reclassified from AOCI
$
19

$
71

Net income

50

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
10. Changes in and Reclassifications From Accumulated Other Comprehensive Income (continued)

Changes in AOCI, Net of Tax for the Three Months Ended September 30, 2016
 
Changes in
 
Net Unrealized Gain on Securities
Net Gain on Cash Flow Hedging Instruments
Foreign Currency Translation Adjustments
AOCI, net of tax
Beginning balance
$
993

$
77

$
(2
)
$
1,068

OCI before reclassifications
155

(9
)

146

Amounts reclassified from AOCI
(18
)
(5
)

(23
)
     OCI, net of tax
137

(14
)

123

Ending balance
$
1,130

$
63

$
(2
)
$
1,191

Changes in AOCI, Net of Tax for the Nine Months Ended September 30, 2016
 
Changes in
 
Net Unrealized Gain on Securities
Net Gain on Cash Flow Hedging Instruments
Foreign Currency Translation Adjustments
AOCI, net of tax
Beginning balance
$
539

$
57

$
(3
)
$
593

OCI before reclassifications
623

20

1

644

Amounts reclassified from AOCI
(32
)
(14
)

(46
)
     OCI, net of tax
591

6

1

598

Ending balance
$
1,130

$
63

$
(2
)
$
1,191

 Reclassified from AOCI
 
Three Months Ended September 30, 2016
Nine Months Ended September 30, 2016
Affected Line Item in the Condensed
Consolidated Statement of Operations
Net Unrealized Gain on Securities
 
 
 
Available-for-sale securities
$
28

$
49

Net realized capital losses
 
28

49

Income before income taxes
 
10

17

Income tax expense (benefit)
 
18

32

Net income
Net Gains on Cash Flow Hedging Instruments
 
 
 
Interest rate swaps
6

19

Net investment income
Foreign currency swaps
1

3

Net realized capital losses
 
7

22

Income before income taxes
 
2

8

Income tax expense (benefit)
 
5

14

Net income
Total amounts reclassified from AOCI
$
23

$
46

Net income

51

HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)
11. Subsequent Event


On October 23, 2017, The Hartford announced that HLA, a wholly owned subsidiary of The Hartford and an affiliate of the Company, entered into a definitive agreement to purchase Aetna’s U.S. group life and disability insurance business through a reinsurance transaction. In order to finance this acquisition, The Hartford requested from the Company, and the Connecticut Department of Insurance has approved, an extraordinary dividend of $800 in the form of a return of capital. This dividend is expected to be paid in the fourth quarter of 2017 contingent on the closing of the transaction.


52



Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Dollar amounts in millions, unless otherwise stated)
Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) addresses the financial condition of Hartford Life Insurance Company and its subsidiaries (“Hartford Life Insurance Company” or the “Company”) as of and for the periods ended September 30, 2017 compared with the comparable 2016 periods.
The Company meets the conditions specified in General Instruction H(1) of Form 10-Q and is filing this Form with the reduced disclosure format permitted for wholly-owned subsidiaries of reporting entities. The Company has omitted, from this Form 10-Q, certain information in Part I Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations. The Company has included, under Item 2, Consolidated Results of Operations to explain any material changes in revenue and expense items for the periods presented. Certain reclassifications have been made to prior period financial information to conform to the current period classifications. This discussion should be read in conjunction with MD&A in Hartford Life Insurance Company’s 2016 Form 10-K Annual Report.
INDEX

53



CONSOLIDATED RESULTS OF OPERATIONS 
Operating Summary
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
2016
Change
 
2017
2016
Change
Fee income and other
$
215

$
246

(13
%)
 
$
661

$
746

(11
%)
Earned premiums
27

124

(78
%)
 
97

180

(46
%)
Net investment income
324

363

(11
%)
 
958

1,030

(7
%)
Net realized capital gains (losses)
(33
)
(31
)
(6
%)
 
(61
)
(145
)
58
%
Total revenues
533

702

(24
%)
 
1,655

1,811

(9
%)
Benefits, losses and loss adjustment expenses
352

405

(13
%)
 
1,024

1,096

(7
%)
Amortization of deferred policy acquisition costs ("DAC")
7

81

(91
%)
 
25

100

(75
%)
Insurance operating costs and other expenses
103

124

(17
%)
 
304

365

(17
%)
Dividends to policyholders


%
 

1

(100
%)
Total benefits, losses and expenses
462

610

(24
%)
 
1,353

1,562

(13
%)
Income before income taxes
71

92

(23
%)
 
302

249

21
%
Income tax expense (benefit)
(12
)
13

(192
%)
 
32

24

33
%
Net income
$
83

$
79

5
%
 
$
270

$
225

20
%
Three and nine months ended September 30, 2017 compared to the three and nine months ended September 30, 2016
Net income increased for the three and nine months ended September 30, 2017, as compared to the prior year periods, primarily due to lower amortization of deferred policy acquisition costs, lower benefits, losses and loss adjustment expenses, and lower insurance operating costs and other expenses, partially offset by lower earned premiums and lower fee income and other.
Fee income, earned premiums, and insurance operating costs and other expenses decreased for the three and nine months ended September 30, 2017, as compared to the prior year period, primarily due to the continued run off of the variable annuity block of business.
Benefits, losses and loss adjustment expenses decreased for the three and nine months ended September 30, 2017, as compared to the prior year period, due to lower death benefits and interest credited primarily due to the continued run off of the variable annuity block of business.
The decrease in DAC amortization for the three and nine months ended September 30, 2017 was due to the run off of the variable annuity block of business and the effect of a favorable unlock compared to a prior year unfavorable unlock. For further discussion of the unlock, see MD&A - Estimated Gross Profits.
Net investment income decreased for the three and nine months ended September 30, 2017, compared to the prior year periods, primarily due to lower income from limited partnerships and other alternative investments as well as lower asset levels. Income from limited partnership and other alternative investments was below the prior year due to lower returns on private equity investments. For further discussion, see MD&A - Investments Results, Net Investment Income.
Net realized capital losses of $33, before tax, for the three months ended September 30, 2017, were greater than net realized capital losses of $31, before tax, in the prior year period, primarily due to lower net gains on sales, largely offset by lower impairments and lower losses on the variable annuity hedge program. Net realized capital losses of $61, before tax, for the nine months ended September 30, 2017, were lower than net realized capital losses of $145, before tax, in the prior year period, primarily due to the effect of losses on non-qualifying and other derivatives in 2016, higher net gains on sales and lower impairments, partially offset by greater losses on the variable annuity hedge program. For further discussion of the results, see MD&A - Investment Results, Net Realized Capital Gains (Losses).
The effective tax rate differs from the U.S. statutory rate of 35% in 2017 and 2016 primarily due to the separate account dividends received deduction ("DRD"). Income tax expense changed from income tax expense to an income tax benefit for the three months ended September 30, 2017 compared to the prior year period, primarily due to a decrease in income before income taxes and a higher DRD benefit. For the nine months ended September 30, 2017, as compared to the prior year period, income tax expense increased by $8, primarily due to an increase in income before income taxes. For a reconciliation of the income tax provision at the U.S. Federal statutory rate to the provision for income taxes, see Note 7 - Income Taxes of Notes to Condensed Consolidated Financial Statements.

54



INVESTMENT RESULTS
Net Investment Income
 
Three Months Ended September 30,
Nine Months Ended September 30,
 
2017
2016
2017
2016
(Before-tax)
Amount
Yield [1]
Amount
Yield [1]
Amount
Yield [1]
Amount
Yield [1]
Fixed maturities [2]
$
251

4.5
%
$
258

4.5
%
$
758

4.5
%
$
793

4.6
%
Equity securities, AFS
1

2.8
%
1

2.9
%
4

2.2
%
5

3.2
%
Mortgage loans
31

4.3
%
33

4.6
%
93

4.4
%
97

4.5
%
Policy loans
20

5.5
%
19

5.4
%
59

5.5
%
61

5.7
%
Limited partnerships and other alternative investments
23

9.8
%
47

19.2
%
44

6.5
%
59

7.1
%
Other [3]
12

 
17

 
41

 
53

 
Investment expense
(14
)
 
(12
)
 
(41
)
 
(38
)
 
Total net investment income
324

4.5
%
363

4.9
%
958

4.4
%
1,030

4.6
%
Total net investment income excluding limited partnerships and other alternative investments
$
301

4.4
%
$
316

4.4
%
$
914

4.4
%
$
971

4.5
%
[1]
Yields calculated using annualized net investment income divided by the monthly average invested assets at amortized cost as applicable, excluding repurchase agreement and securities lending collateral, if any, and derivatives amortized cost.
[2]
Includes net investment income on short-term investments.
[3]
Primarily includes income from derivatives that qualify for hedge accounting and hedge fixed maturities.
Three and nine months ended September 30, 2017 compared to the three and nine months ended September 30, 2016
Total net investment income decreased for the three and nine months ended September 30, 2017 compared to the three and nine months ended September 30, 2016 primarily due to lower income from limited partnerships and other alternative investments as well as lower asset levels. Income from limited partnership and other alternative investments was below the prior year due to lower returns on private equity investments.
The annualized net investment income yield, excluding limited partnerships and other alternative investments, was 4.4% for the nine months ended September 30, 2017, down from 4.5% for the nine months ended September 30, 2016. Excluding non-routine items, which primarily include make-whole payments on fixed maturities and income received from previously impaired securities, the annualized investment income yield, excluding limited partnerships and other alternative investments, was 4.3% for the nine months ended September 30, 2017, down from 4.4% for the nine months ended September 30, 2016.
The average reinvestment rate for the nine months ended September 30, 2017, excluding certain U.S. Treasury securities and cash equivalent securities, was approximately 3.7%, which was below the average yield of sales and maturities of 3.9% for the same period. For the nine months ended September 30, 2017, the average reinvestment rate of 3.7% increased from 3.4% for the nine months ended September 30, 2016.
We expect the annualized net investment income yield for the 2017 calendar year, excluding limited partnerships and other alternative investments, to be slightly below the portfolio yield earned in 2016. This assumes the Company earns less income in 2017 from make-whole payments on fixed maturities and recoveries on previously impaired securities than it did in 2016 and that reinvestment rates continue to be below the average yield of sales and maturities. The estimated impact on net investment income is subject to change as the composition of the portfolio changes through portfolio management and trading activities and changes in market conditions.

55



Net Realized Capital Gains (Losses)
 
Three Months Ended September 30,
Nine Months Ended September 30,
(Before-tax)
2017
2016
2017
2016
Gross gains on sales
$
28

$
47

$
141

$
138

Gross losses on sales
(7
)
(6
)
(47
)
(66
)
Net OTTI losses recognized in earnings
(1
)
(12
)
(14
)
(23
)
Valuation allowances on mortgage loans


2


Results of variable annuity hedge program
 
 
 
 
GMWB derivatives, net
15

6

53

(8
)
Macro hedge program
(65
)
(64
)
(189
)
(98
)
Total results of variable annuity hedge program
(50
)
(58
)
(136
)
(106
)
Transactional foreign currency revaluation
3

(8
)
(11
)
(116
)
Non-qualifying foreign currency derivatives
(4
)
12

4

108

Other, net [1]
(2
)
(6
)

(80
)
Net realized capital losses
$
(33
)
$
(31
)
$
(61
)
$
(145
)
[1]
Primarily consists of changes in value of non-qualifying derivatives, including credit derivatives, interest rate derivatives used to manage duration, and embedded derivatives associated with modified coinsurance reinsurance contracts.
Gross Gains and Losses on Sales
Gross gains and losses on sales for the three and nine months ended September 30, 2017 were primarily the result of duration, liquidity and credit management within corporate securities, residential mortgage-backed securities ("RMBS"), equity securities, and municipal bonds.
Gross gains and losses on sales for the three and nine months ended September 30, 2016 were primarily due to sales of corporate securities and U.S Treasuries as a result of duration, liquidity and credit management.
Variable Annuity Hedge Program
For the three and nine months ended September 30, 2017, the net gains on the combined GMWB derivatives, net, which include the GMWB product, reinsurance, and hedging derivatives, were primarily driven by gains of $8 and $19, respectively, driven by a decline in equity market volatility, $7 and $18, respectively, driven by time decay of options, and $4and $15, respectively, due to policyholder behavior.
For the three months ended September 30, 2016, the net gain related to the combined GMWB derivative, net, were primarily due to gains of $16 due to favorable policyholder behavior and gains of $11 driven by outperformance of the underlying actively managed funds as compared to their respective indices, partially offset by losses of $(11) primarily resulting from assumption updates and losses of $(6) due to an increase in interest rates.
For the nine months ended September 30, 2016 , the net loss related to the combined GMWB derivative, net, were primarily due to losses of $(19) driven by an increase in U.S equity markets, partially offset by non-market gains of $14 . The non-market gains include favorable policyholder behavior and outperformance of the underlying actively managed funds compared to their respective indices, partially offset by assumption and fund regression updates.
For the three and nine months ended September 30, 2017,the losses on the macro hedge program were primarily due to losses of $(42) and $(109), respectively, driven by an improvement in domestic equity markets and $(15) and $(51), respectively, driven by time decay on options. Also included were losses of $(8) and $(37) driven by a decline in equity market volatility.
For the three and nine months ended September 30, 2016, the losses on the macro hedge program were primarily due to losses of $(25) and $(58), respectively, driven by an increase in equity markets and losses of $(19) and $(40), respectively, driven by time decay on options. Additional losses of $(9) for the three months ended September 30, 2016 were driven by a decline in equity volatility.
Other, Net
Other, net loss for the nine months ended September 30, 2016, was primarily due to losses of $(48) associated with modified coinsurance reinsurance contracts driven by a decline in interest rates. Modified coinsurance reinsurance contracts are accounted for as embedded derivatives and transfer to the reinsurer the investment experience related to the assets supporting the reinsured policies. Also included were additional losses of $(13) on equity derivatives which were hedging against a decline in the equity market on the investment portfolio, losses of $(11) on interest derivatives driven by a decline in interest rates.

56



CRITICAL ACCOUNTING ESTIMATES
The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ, and in the past have differed, from those estimates. The Company’s critical accounting estimates are discussed in Part II, Item 7 MD&A in the Company’s 2016 Form 10-K Annual Report. The following discussion updates certain of the Company’s critical accounting estimates as of September 30, 2017.
Estimated Gross Profits
Estimated gross profits ("EGPs") are used in the valuation and amortization of the DAC asset. Portions of EGPs are also used in the valuation of reserves for death and other insurance benefit features on variable annuity and other universal life-type contracts.
Significant EGP-based Balances
 
As of September 30, 2017
As of December 31, 2016
DAC [1]
$
426

$
463

Death and Other Insurance Benefit Reserves, net of reinsurance [2]
$
361

$
354

[1]
For additional information on DAC, see Note 5 - Deferred Policy Acquisition Costs of Notes to Condensed Consolidated Financial Statements.
[2]
For additional information on death and other insurance benefit reserves, see Note 6 - Reserves for Future Policy Benefits and Separate Account Liabilities of Notes to Condensed Consolidated Financial Statements.
Benefit (Charge) to Income, Net of Tax, as a Result of Unlock
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
2016
 
2017
2016
DAC
$
7

$
(72
)
 
$
16

$
(71
)
Death and Other Insurance Benefit Reserves
5

12

 
20

30

Total (pre-tax)
12

(60
)
 
36

(41
)
Income tax effect
5

(21
)
 
13

(14
)
Total (after-tax)
$
7

$
(39
)
 
$
23

$
(27
)
The Unlock benefit, after-tax for the three and nine months ended September 30, 2017 was primarily due to separate accounts returns being above our aggregated estimated returns during the period largely due to an increase in equity markets.
The Unlock charge after-tax, for the three and nine months ended September 30, 2016 was primarily due to the reduction of the fixed annuity DAC balance to zero due to the impact of the sustained low interest rates on estimated gross profits, partially offset by an off-cycle assumption change that reduced future expected lapse rates given recent experience and an unlock benefit on variable annuity DAC due to separate account returns being above our aggregated estimated returns during the period largely due to an increase in equity markets.
Use of Estimated Gross Profits in Amortization and Reserving
For most annuity contracts, the Company estimates gross profits over 20 years as EGPs emerging subsequent to that time frame are immaterial. Products sold in a particular year are aggregated into cohorts. Future gross profits for each cohort are projected over the estimated lives of the underlying contracts, based on future account value projections for variable annuity products. The projection of future account values requires the use of certain assumptions including: separate account returns; separate account fund mix; fees assessed against the contract holder’s account balance; surrender and lapse rates; interest margin; mortality; and the extent and duration of hedging activities and hedging costs. Changes in these assumptions and changes to other policyholder behavior assumptions such as resets, partial surrenders, reaction to price increases, and asset allocations cause EGPs to fluctuate which impacts earnings.
The Company determines EGPs from a single deterministic reversion to mean (“RTM”) separate account return projection which is an estimation technique commonly used by insurance entities to project future separate account returns. Through this estimation technique, the Company’s DAC model is adjusted to reflect actual account values at the end of each quarter. Through consideration of recent market returns, the Company will unlock, or adjust, projected returns over a future period so that the account value returns to the long-term expected rate of return, providing that those projected returns do not exceed certain caps.

57



Market Unlocks
In addition to updating assumptions in the fourth quarter of each year, an Unlock revises EGPs, on a quarterly basis, to reflect the Company’s current best estimate assumptions and market updates of policyholder account value. The Unlock for future separate account returns is determined each quarter. Under RTM, the expected long term rate of return is 8.3%. The annual return assumed over the next five years of approximately 0.1% was calculated based on the return needed over that period to produce an 8.3% return since March of 2009, the date the Company adopted the RTM estimation technique to project future separate account returns. Based on the expected trend of policy lapses and annuitizations, the Company expects approximately 55% of its block of variable annuities to run off in the next 5 years.
Aggregate Recoverability
After each quarterly Unlock, the Company also tests the aggregate recoverability of DAC by comparing the DAC balance to the present value of future EGPs. The margin between the DAC balance and the present value of future EGPs for variable annuities was 35% as of September 30, 2017. If the margin between the DAC asset and the present value of future EGPs is exhausted, then further reductions in EGPs would cause portions of DAC to be unrecoverable and the DAC asset would be written down to equal future EGPs.

58



CAPITAL RESOURCES AND LIQUIDITY
Capital resources and liquidity represent the financial resources of Hartford Life Insurance Company and its ability to generate strong cash flows, borrow funds at competitive rates and raise new capital to meet operating needs over the next twelve months.
Liquidity Requirements and Sources of Capital
The Hartford has an intercompany liquidity agreement that allows for short-term advances of funds among The Hartford Financial Services Group, Inc. ("HFSG Holding Company") and certain affiliates of up to $2.0 billion for liquidity and other general corporate purposes. The Connecticut Insurance Department ("CTDOI") granted approval for certain affiliated insurance companies that are parties to the agreement to treat receivables from a parent, including the HFSG Holding Company, as admitted assets for statutory accounting purposes. As of September 30, 2017, there were no amounts outstanding or borrowed by the Company.
Derivative Commitments
Certain of the Company’s derivative agreements contain provisions that are tied to the financial strength ratings, as set by nationally recognized statistical agencies, of the individual legal entity that entered into the derivative agreement. If the legal entity’s financial strength were to fall below certain ratings, the counterparties to the derivative agreements could demand immediate and ongoing full collateralization and in certain instances enable the counterparties to terminate the agreements and demand immediate settlement of all outstanding derivative positions traded under each impacted bilateral agreement. The settlement amount is determined by netting the derivative positions transacted under each agreement. If the termination rights were to be exercised by the counterparties, it could impact the legal entity’s ability to conduct hedging activities by increasing the associated costs and decreasing the willingness of counterparties to transact with the legal entity. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position as of September 30, 2017 is $802. For this $802, the legal entities have posted collateral of $843 in the normal course of business. In addition, the Company has posted collateral of $31 associated with a customized GMWB derivative. Based on derivative market values as of September 30, 2017, a downgrade of one level below the current financial strength ratings by either Moody's or S&P would require an additional $7 of assets to be posted as collateral. These collateral amounts could change as derivative market values change, as a result of changes in our hedging activities or to the extent changes in contractual terms are negotiated. The nature of the collateral that we post, if required, would be primarily in the form of U.S. Treasury bills, U.S. Treasury notes and government agency securities.
On October 23, 2017, Moody’s lowered its counterparty credit and insurer financial strength ratings on Hartford Life and Annuity Insurance Company and Hartford Life Insurance Company to Baa3.  Given this downgrade action, termination rating triggers in three derivative counterparty relationships were impacted.  The Company is in the process of re-negotiating the rating triggers which it expects to successfully complete.  Accordingly, the Company does not expect the current hedging programs to be adversely impacted by the announcement of the downgrade of Hartford Life and Annuity Insurance Company and Hartford Life Insurance Company.  As of September 30, 2017, the notional amount and fair value related to these three derivative counterparties is $989 and $43, respectively.  These counterparties have not exercised their right to terminate these relationships and, if they did, would have to settle all of the outstanding derivatives.  In addition, as a result of the downgrade of Hartford Life and Annuity Insurance Company, the Company is required to post an additional $7 of collateral related to a single counterparty relationship.
Insurance Operations
Total general account contractholder obligations are supported by $31 billion of cash and total general account invested assets, which includes the following fixed maturity securities and short-term investments to meet liquidity needs.
 
As of September 30, 2017
Fixed maturities
$
23,679

Short-term investments
1,400

Cash
239

Less: Derivative collateral
1,244

Total
$
24,074

Capital resources available to fund liquidity upon contractholder surrender or termination are a function of the legal entity in which the liquidity requirement resides. Obligations related to life and annuity insurance products will be generally funded by both HLIC and Hartford Life and Annuity Insurance Company ("HLAI"); obligations related to retirement and institutional investment products will be generally funded by HLIC.

59



The Company is a member of the Federal Home Loan Bank of Boston (“FHLBB”). Membership allows the Company access to collateralized advances, which may be used to support various spread-based business and enhance liquidity management. FHLBB membership requires the company to own member stock and advances require the purchase of activity stock. The amount of advances that can be taken are dependent on the asset types pledged to secure the advances. The CTDOI will permit the Company to pledge up to $1.1 billion in qualifying assets to secure FHLBB advances for 2017. The pledge limit is recalculated annually based on statutory admitted assets and capital and surplus. The Company would need to seek the prior approval of the CTDOI in order to exceed these limits. As of September 30, 2017, HLIC had no advances outstanding under the FHLBB facility.
Contractholder Obligations
 
As of September 30, 2017
Total Contractholder obligations
$
159,491

Less: Separate account assets [1]
115,626

General account contractholder obligations
$
43,865

Composition of General Account Contractholder Obligations
Contracts without a surrender provision and/or fixed payout dates [2]
$
18,650

Fixed MVA annuities [3]
4,798

Other [4]
20,417

General account contractholder obligations
$
43,865

[1]
In the event customers elect to surrender separate account assets, the Company will use the proceeds from the sale of the assets to fund the surrender, and the Company’s liquidity position will not be impacted. In many instances the Company will receive a percentage of the surrender amount as compensation for early surrender (surrender charge), increasing the Company’s liquidity position. In addition, a surrender of variable annuity separate account or general account assets (see the following) will decrease the Company’s obligation for payments on guaranteed living and death benefits.
[2]
Relates to contracts such as payout annuities, institutional notes, term life, group benefit contracts, or death and living benefit reserves, which cannot be surrendered for cash.
[3]
Relates to annuities that are recorded in the general account under U.S. GAAP as the contractholders are subject to the Company's credit risk, although these annuities are held in a statutory separate account. In the statutory separate account, the Company is required to maintain invested assets with a fair value greater than or equal to the MVA surrender value of the Fixed MVA contract. In the event assets decline in value at a greater rate than the MVA surrender value of the Fixed MVA contract, the Company is required to contribute additional capital to the statutory separate account. The Company will fund these required contributions with operating cash flows or short-term investments. In the event that operating cash flows or short-term investments are not sufficient to fund required contributions, the Company may have to sell other invested assets at a loss, potentially resulting in a decrease in statutory surplus. As the fair value of invested assets in the statutory separate account are at least equal to the MVA surrender value of the Fixed MVA contract, surrender of Fixed MVA annuities will have an insignificant impact on the liquidity requirements of the Company.
[4]
Surrenders of, or policy loans taken from, as applicable, these general account liabilities, which include the general account option for individual variable annuities and the variable life contracts of the former Individual Life business, the general account option for annuities of the former Retirement Plans business and universal life contracts sold by the former Individual Life business, may be funded through operating cash flows of the Company, available short-term investments, or the Company may be required to sell fixed maturity investments to fund the surrender payment. Sales of fixed maturity investments could result in the recognition of significant realized losses and insufficient proceeds to fully fund the surrender amount. In this circumstance, the Company may need to take other actions, including enforcing certain contract provisions which could restrict surrenders and/or slow or defer payouts. The Company has ceded reinsurance in connection with the sales of its Retirement Plans and Individual Life businesses to MassMutual and Prudential, respectively. The reinsurance transactions do not extinguish the Company's primary liability on the insurance policies issued under these businesses.
Off-Balance Sheet Arrangements and Aggregate Contractual Obligations
There have been no material changes to the Company’s off-balance sheet arrangements and aggregate contractual obligations since the filing of the Company’s 2016 Form 10-K Annual Report.

60



Dividends
Dividends to the Company from its insurance subsidiaries are restricted by insurance regulation. The payment of dividends by Connecticut-domiciled insurers is limited under the insurance holding company laws of Connecticut. These laws require notice to and approval by the state insurance commissioner for the declaration or payment of any dividend, which, together with other dividends or distributions made within the preceding twelve months, exceeds the greater of (i) 10% of the insurer’s policyholder surplus as of December 31 of the preceding year or (ii) net income (or net gain from operations, if such company is a life insurance company) for the twelve-month period ending on the thirty-first day of December last preceding, in each case determined under statutory insurance accounting principles. In addition, if any dividend of a domiciled insurer exceeds the insurer’s earned surplus or certain other thresholds as calculated under applicable state insurance law, the dividend requires the prior approval of the domestic regulator. In addition to statutory limitations on paying dividends, the Company also takes other items into consideration when determining dividends from subsidiaries. These considerations include, but are not limited to, expected earnings and capitalization of the subsidiary, regulatory capital requirements and liquidity requirements of the individual operating company.
In 2017, the Company is permitted to pay up to a maximum of $1 billion in dividends and the Company’s subsidiaries are permitted to pay up to a maximum of approximately $345 in dividends without prior approval from the applicable insurance commissioner. However, to meet the liquidity needed to pay dividends up to the HFSG Holding Company, the Company may require receiving regulatory approval for extraordinary dividends from HLAI. During the first nine months of 2017, HLAI paid dividends of $450 to the Company which were subsequently paid as a dividend to the Company's parent, along with an additional $150. In October, 2017, HLAI received approval from the CTDOI to pay an extraordinary dividend to the Company of $550. Concurrent with that dividend approval, the Company received approval from the CTDOI to pay a dividend of $800 in the form of a return of capital. The dividends will be paid prior to the closing of HLA's pending acquisition of Aetna's group life and disability business. For more information on the Aetna transaction see Note 11 - Subsequent Events of Notes to Condensed Consolidated Financial Statements.
Cash Flows
 
Nine Months Ended September 30,
 
2017
2016
Net cash provided by operating activities
$
612

$
560

Net cash provided by investing activities
$
266

$
967

Net cash used for financing activities
$
(1,193
)
$
(1,407
)
Cash – end of period
$
239

$
426

Net cash provided by operating activities increased in 2017 as compared to 2016 primarily due higher net income and decreased reinsurance recoverables.
Net cash provided by investing activities in 2017 primarily relates to net proceeds from available-for-sale securities of $509, partially offset by net payments for derivatives of $98 and partnerships of $82. Net cash provided by investing activities in 2016 primarily relates to net proceeds from available-for-sale securities of $761 and net proceeds from partnerships of $221, partially offset by net payments for short-term investments of $195.
Net cash used for financing activities in 2017 relates to net payments for deposits, transfers and withdrawals for investments and universal life-type contracts of $914, offset by a net increase in securities loaned or sold under agreements to repurchase of $331. Net cash used for financing activities in 2016 relates to the return of capital to the parent of approximately $755 and net payments for deposits, transfers and withdrawals for investments and universal life-type contracts of $624.
Operating cash flows in both periods have been adequate to meet liquidity requirements.
Ratings
Ratings can have an impact the Company’s reinsurance and derivative contracts. There can be no assurance that the Company’s ratings will continue for any given period of time or that they will not be changed. In the event the Company’s ratings are downgraded, reinsurance contracts may be adversely impacted and the Company may be required to post additional collateral on certain derivative contracts.
On October 23, 2017, Moody’s Investor Service downgraded the IFS rating of Hartford Life Insurance Company and Hartford Life & Annuity Insurance Company to Baa3 from Baa2. The ratings outlook on these companies remains stable.
Insurance Financial Strength Ratings as of October 24, 2017
 
A.M. Best
Standard & Poor’s
Moody’s
Hartford Life Insurance Company
A-
BBB+
Baa3
Hartford Life and Annuity Insurance Company
A-
BBB+
Baa3

61



These ratings are not a recommendation to buy or hold any of the Company’s securities and they may be revised or revoked at any time at the sole discretion of the rating organization.
The agencies consider many factors in determining the final rating of an insurance company. One consideration is the relative level of statutory capital and surplus (referred to collectively as "statutory capital") necessary to support the business written and is reported in accordance with accounting practices prescribed by the applicable state insurance department.
Statutory Capital
The Company’s aggregate statutory capital, as prepared in accordance with the National Association of Insurance Commissioners’ Accounting Practices and Procedures Manual (“US STAT”), was $4.1 billion as of September 30, 2017 and $4.4 billion as of December 31, 2016, respectively. The statutory capital amount as of December 31, 2016 is based on actual statutory filings with the applicable regulatory authorities. The statutory capital amount as of September 30, 2017, is an estimate, as the third quarter 2017 statutory filings have not yet been made.

62



IMPACT OF NEW ACCOUNTING STANDARDS
For a discussion of accounting standards, see Note 1 - Basis of Presentation and Significant Accounting Policies of Notes to Consolidated Financial Statements included in the Company’s 2016 Form 10-K Annual Report and Note 1 - Basis of Presentation and Significant Accounting Policies of Notes to Condensed Consolidated Financial Statements in this Form 10-Q.
Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The information contained in the Financial Risk Management section of Management’s Discussion and Analysis of Financial Condition and Results of Operations of the Company’s 2016 Form 10-K Annual Report is incorporated herein by reference.
Item 4. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
The Company’s principal executive officer and its principal financial officer, based on their evaluation of the Company’s disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e)) have concluded that the Company’s disclosure controls and procedures are effective for the purposes set forth in the definition thereof in Exchange Act Rule 13a-15(e) as of September 30, 2017.
Changes in Internal Control Over Financial Reporting
There was no change in the Company’s internal control over financial reporting that occurred during the Company’s current fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

63



Part II. OTHER INFORMATION
Item 1. LEGAL PROCEEDINGS
The Company is involved in claims litigation arising in the ordinary course of business with respect to life, disability and accidental death and dismemberment insurance policies and with respect to annuity contracts. The Company accounts for such activity through the establishment of reserves for future policy benefits. Management expects that the ultimate liability, if any, with respect to such ordinary-course claims litigation, after consideration of provisions made for potential losses and costs of defense, will not be material to the consolidated financial condition, results of operations or cash flows of the Company.
The Company is also involved in other kinds of legal actions, some of which assert claims for substantial amounts. Such actions have alleged, for example, bad faith in the handling of insurance claims and improper sales practices in connection with the sale of insurance and investment products. Some of these actions also seek punitive damages. Management expects that the ultimate liability, if any, with respect to such lawsuits, after consideration of provisions made for estimated losses, will not be material to the consolidated financial condition of the Company. Nonetheless, given the large or indeterminate amounts sought in certain of these actions, and the inherent unpredictability of litigation, it is possible that an adverse outcome in certain matters could, from time to time, have a material adverse effect on the Company’s consolidated financial condition, results of operations or cash flows in particular quarterly or annual periods.
Item 1A. RISK FACTORS
Investing in the Company involves risk. In deciding whether to invest in the securities of the Company, you should carefully consider the risk factors disclosed in Item 1A of Part I of the Company's Annual Report on Form 10-K for the year ended December 31, 2016, any of which could have a significant or material adverse effect on the business, financial condition, operating results or liquidity of the Company. This information should be considered carefully together with the other information contained in this report and the other reports and materials filed by the Company with the SEC.
Item 6. EXHIBITS
See Exhibits Index on page

64



SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HARTFORD LIFE INSURANCE COMPANY

/s/ Peter F. Sannizzaro
Peter F. Sannizzaro
Senior Vice President and Principal Accounting Officer (Principal Financial Officer and duly authorized signatory)
October 27, 2017

65



HARTFORD LIFE INSURANCE COMPANY AND SUBSIDIARIES
FORM 10-Q
FOR THE QUARTER ENDED SEPTEMBER 30, 2017
EXHIBITS INDEX
 
Exhibit No.
  
 
 
 
 
3.01
 
Restated Certificate of Incorporation of Hartford Life Insurance Company (the “Company”), effective April 2, 1982, as amended by Amendment No. 1, effective August 3, 1984, as amended by Amendment No. 2 effective December 31, 1996, as amended by Amendment No. 3, effective July 25, 2000 (incorporated herein by reference to Exhibit 3.01 to the Company’s Form 10-K for the fiscal year ended December 31, 2004)
3.02
 
Amended and Restated By-Laws of Hartford Life Insurance Company, effective March 15, 2013, (incorporated herein by reference to Exhibit 3.01 to the Company’s Form 10-Q for the quarterly period ended March 31, 2013)
12.01
  
Computation of Ratio of Earnings to Fixed Charges **
 
 
 
15.01
  
Deloitte & Touche LLP Letter of Awareness **
 
 
 
31.01
  
Certification of Brion S. Johnson pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 **
 
 
 
31.02
  
Certification of Peter F. Sannizzaro pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 **
 
 
 
32.01
  
Certification of Brion S. Johnson pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 **
 
 
 
32.02
  
Certification of Peter F. Sannizzaro pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 **
 
 
 
101.INS
  
XBRL Instance Document **
 
 
 
101.SCH
  
XBRL Taxonomy Extension Schema **
 
 
 
101.CAL
  
XBRL Taxonomy Extension Calculation Linkbase **
 
 
 
101.DEF
  
XBRL Taxonomy Extension Definition Linkbase **
 
 
 
101.LAB
  
XBRL Taxonomy Extension Label Linkbase **
 
 
 
101.PRE
  
XBRL Taxonomy Extension Presentation Linkbase **
**Filed with the Securities and Exchange Commission as an Exhibit to this report.

66



Exhibit 31.01
HARTFORD LIFE INSURANCE COMPANY
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ENACTED BY SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, Brion S. Johnson, certify that:
1. I have reviewed this Quarterly Report on Form 10-Q of Hartford Life Insurance Company;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 
Date:
October 27, 2017
 
 
By:
/s/ Brion S. Johnson
 
Brion S. Johnson
 
President


67



Exhibit 12.01

HARTFORD LIFE INSURANCE COMPANY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In millions)
 
Nine Months Ended September, 30
 
Years Ended December 31,
 
2017
 
2016
2015
2014
2013
EARNINGS:
 
 
 
 
 
 
Total earnings, before interest credited to contractholders
$
302

 
$
356

$
530

$
861

$
561

Interest credited to contractholders [1]
478

 
631

682

725

952

Total earnings
$
780

 
$
987

$
1,212

$
1,586

$
1,513

 
 
 
 
 
 
 
FIXED CHARGES:
 
 
 
 
 
 
Total fixed charges, before interest credited to contractholders
$

 
$

$

$

$

Interest credited to contractholders [1]
478

 
631

682

725

952

Total fixed charges
$
478

 
$
631

$
682

$
725

$
952

RATIOS:
 
 
 
 
 
 
Total earnings to total fixed charges [2]
1.6

 
1.6

1.8

2.2

1.6

[1] Interest credited to contractholders includes interest credited on general account assets and interest credited on consumer notes.
[2] Ratios of less than one-to-one are presented as “NM” or not meaningful.



68



Exhibit 15.01


October 27, 2017
Hartford Life Insurance Company
One Hartford Plaza
Hartford, Connecticut


We have reviewed, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the unaudited interim financial information of Hartford Life Insurance Company and subsidiaries (the “Company”) for the periods ended September 30, 2017, and 2016, as indicated in our report dated October 27, 2017; because we did not perform an audit, we expressed no opinion on that information.

We are aware that our report referred to above, which is included in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, is incorporated by reference in Registration Statement Nos. 333-214334, 333-214335, 333-214336, 333-214337, 333-214338 and 333-214339 on Form S-3.

We also are aware that the aforementioned report, pursuant to Rule 436(c) under the Securities Act of 1933, is not considered a part of the Registration Statement prepared or certified by an accountant or a report prepared or certified by an accountant within the meaning of Sections 7 and 11 of that Act.



/s/ DELOITTE & TOUCHE LLP
Hartford, Connecticut



69



Exhibit 31.02
HARTFORD LIFE INSURANCE COMPANY
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ENACTED BY SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, Peter F. Sannizzaro, certify that:
1. I have reviewed this Quarterly Report on Form 10-Q of Hartford Life Insurance Company;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 
Date:
October 27, 2017
 
 
By:
/s/ Peter F. Sannizzaro
 
Peter F. Sannizzaro
 
Senior Vice President and Principal Accounting Officer


70



Exhibit 32.01
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ENACTED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report on Form 10-Q for the period ended September 30, 2017 of Hartford Life Insurance Company (the “Company”), filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned hereby certifies, pursuant to 18 U.S.C. section 1350 as enacted by section 906 of the Sarbanes-Oxley Act of 2002, that:
1)
The Report fully complies with the requirements of section 13(a) or section 15(d) of the Securities Exchange Act of 1934; and
2)
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Brion S. Johnson
Brion S. Johnson
President
Date:
October 27, 2017


71



Exhibit 32.02
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ENACTED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report on Form 10-Q for the period ended September 30, 2017 of Hartford Life Insurance Company (the “Company”), filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned hereby certifies, pursuant to 18 U.S.C. section 1350 as enacted by section 906 of the Sarbanes-Oxley Act of 2002, that:
1)
The Report fully complies with the requirements of section 13(a) or section 15(d) of the Securities Exchange Act of 1934; and
2)
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
 
/s/ Peter F. Sannizzaro
Peter F. Sannizzaro
Senior Vice President and Principal Accounting Officer
Date:
October 27, 2017


72
 


PART C
OTHER INFORMATION
ITEM 24. FINANCIAL STATEMENTS AND EXHIBITS
(a)
 
2016 year end financial statements, and Form 8-K filed on December 4, 2017, are incorporated in Part B of this Post-Effective Amendment No. 14, by reference to Post-Effective Amendment No. 11 to the Registration Statement on Form N-4 (File No. 333-176149), as filed on April 20, 2017. Unaudited Financial Statements as of and for the nine months ended September 30, 2017 are included in Part B of the registration statement.

(b)
(1)
Resolution of the Board of Directors of Hartford Life Insurance Company ("Hartford") authorizing the establishment of the Separate Account.(1)
 
(2)
Not applicable.
 
(3)
(a) Amended and Restated Principal Underwriter Agreement.(2)
 
(4)
(a) Form of Individual Flexible Premium Variable Annuity Contract.(3)
 
(4)
(b) Liquidity Rider(4)
 
(4)
(b) Standard Death Benefit Rider II(4)
 
(4)
(d) Return of Premium Death Benefit Rider V(4)
 
(4)
(e) Maximum Anniversary Value Death Benefit Rider V(4)
 
(4)
(f) Enhanced Return of Premium Death Benefit Rider(4)
 
(4)
(g) Guaranteed Minimum Withdrawal Benefit Rider II-2 (Single Life)(4)
 
(4)
(h) Guaranteed Minimum Withdrawal Benefit Rider II-2 (Joint Life Spousal) (4)
 
(4)
(i) Guaranteed Minimum Withdrawal Benefit Plus Rider II-2 (Single Life)(4)
 
(4)
(j) Guaranteed Minimum Withdrawal Benefit Plus Rider II-2 (Joint Life/Spousal)(4)
 
(4)
(k) Personal Pension Account Annuity Rider(4)
 
 
Personal Pension Account Annuity Rider Endorsement(4)
 
(4)
(l) Guaranteed Minimum Accumulation Benefit Plus Rider II(4)
 
(5)
Form of Application.(3)
 
(6)
(a) Articles of Incorporation of Hartford.(2
 
(6)
(b) Amended and Restated Bylaws of Hartford.(7)
 
(7)
Reinsurance Agreement dated April 25, 2012.(5)
 
(8)
Fund Participation Agreements and Amendments
 
 
(a) AllianceBernstein Variable Products Series Fund, Inc.(4)
 
 
(b) American Century Investments(4)
 
 
(c) American Funds Insurance Series(4)
 
 
(d) BlackRock(4)
 
 
(e) Fidelity Investments(4)
 
 
(f) Franklin Templeton Investments(4)
 
 
(g) Hartford HLS Funds(4)
 
 
(h) Invesco(4)
 
 
(i) Lord Abbett & Co., LLC(4)
 
 
(j) MFS Variable Insurance Trust(4)
 
 
(k) PIMCO(4)
 
 
(l) Putnam Investments, LLC(4)
 
 
(m) Wells Fargo Funds Management, LLC(4)
 
 
(n) Guarantee Agreement, between Hartford Fire Insurance Company and Hartford Life and Accident Insurance Company and its wholly owned subsidiary, Hartford Life Insurance Company, dated as of January 1, 1990.(6)
 
 
(o) Guarantee between Hartford Life Insurance Company and ITT Hartford International Life Reassurance Corporation, dated August 29, 1994 and effective as of May 1, 1993.(6)
 
 
(p) Guarantee Agreement, between Hartford Life Insurance Company and ITT Comprehensive Employee Benefit Service Company, its wholly owned subsidiary, dated as of April 1, 1997.(6)
 
 
(q) Guarantee Agreement, between Hartford Life Insurance Company and ITT Hartford Life and Annuity Insurance Company, dated as of May 23, 1997.(6)
 
 
(r) Capital Maintenance Agreement by and between Hartford Life Insurance Company and Hartford Life, Inc. dated March 12, 2001.(6)
 
(9)
Opinion and Consent of Lisa Proch, Assistant General Counsel.
 
(10)
Consent of Deloitte & Touche LLP, Independent Registered Public Accounting Firm
 
(11)
No financial statements are omitted
 
(12)
Not applicable.
 
(99)
Copy of Power of Attorney.






(1)
Incorporated by reference to the Initial filing to the Registration Statement File No. 333-148564 filed on January 9, 2008.

(2)
Incorporated by reference to Post-Effective Amendment No. 3 to the Registration Statement File No. 333-148564 filed on February 9, 2009.

(3)
Incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement File No. 333-181234, filed on July 2, 2012.

(4)
Incorporated by reference to Post-Effective Amendment No. 3, to the Registration Statement File No. 333-176149, filed on April 23, 2012.

(5)
Incorporated by reference to Post-Effective Amendment No. 4 to the Registration Statement File No. 333-176150 filed on May 8, 2012.

(6)
Incorporated by reference to Post-Effective Amendment No. 10, to the Registration Statement File No. 333-148564, filed on May 3, 2010.

(7)
Incorporated by reference to Post-Effective Amendment No. 8 to the Registration Statement File No. 333-176150, filed on April 25, 2014.






ITEM 25 DIRECTORS AND OFFICERS OF THE DEPOSITOR

NAME
POSITION
Thomas E. Bartell
Vice President
Ellen T. Below
Vice President
John B. Brady
Actuary, Vice President
Kathleen M. Bromage
Senior Vice President
Michael R. Chesman
Senior Vice President, Director of Taxes
Robert A. Cornell
Actuary, Vice President
Christopher S. Conner
Chief Compliance Officer of Separate Accounts
Christopher J. Dagnault (1)
Vice President
Michael R. Hazel
Vice President, Controller
Donna R. Jarvis
Actuary, Vice President
Brion S. Johnson
President, Chairman of the Board, Director
Diane Krajewski
Vice President
David R. Kryzanski
Vice President
Lisa S. Levin
Corporate Secretary
Craig D. Morrow
Appointed Actuary, Vice President
Matthew J. Poznar
Senior Vice President, Director
Robert W. Paiano
Executive Vice President, Director
Lisa M. Proch
Vice President and Chief Compliance Officer of Talcott Resolution
David G. Robinson
Executive Vice President, General Counsel
Peter F. Sannizzaro
Senior Vice President, Chief Accounting Officer, Chief Financial Officer
Robert R. Siracusa
Vice President


















Unless otherwise indicated, the principal business address of each of the above individuals is One Hartford Plaza, Hartford, CT 06155.
(1) Address: 500 Bielenberg Drive. Woodbury, MN 55125








ITEM 26. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH THE DEPOSITOR OR REGISTRANT.

The Separate Accounts of Hartford Life Insurance Company (“HLIC”) and Hartford Life and Annuity Insurance Company (HLAIC) are the listed Registrants.  The Registrants do not control nor own any legal entities.  The Depositors, HLIC and HLAIC, are wholly-owned subsidiaries of the Hartford Financial Services Group, Inc.,(“HFSG”) a publicly held company registered with the U.S. Securities and Exchange Commission.  Entities that are under common control with the Depositors are listed below, along with entities that are owned or controlled by the Depositors. HSFG serves as the ultimate parent of the entities listed below.

The Hartford Financial Services Group, Inc. (Delaware) (1)    
MPC Resolution Company LLC (Delaware)
Heritage Holdings, Inc. (Connecticut) (1)
Heritage Reinsurance Company, Ltd. (Bermuda)
First State Insurance Company (Connecticut)
New England Insurance Company (Connecticut)
New England Reinsurance Corporation (Connecticut)
Hartford Fire Insurance Company (Connecticut)
Cervus Claim Solutions, LLC (Delaware)
Hartford Insurance Company of Illinois (Illinois)
Hartford Underwriters General Agency, Inc. (Texas)
Hartford of Texas General Agency, Inc. (Texas)
Twin City Fire Insurance Company (Indiana)
Hartford Integrated Technologies, Inc. (Connecticut)
Access Coveragecorp, Inc. (North Carolina)
Access Coveragecorp Technologies, Inc. (North Carolina)
1st Agchoice, Inc. (South Dakota)
Business Management Group, Inc. (Connecticut)
Nutmeg Insurance Agency, Inc. (Connecticut)
*Hartford Lloyds Corporation (Texas)
HRA Brokerage Services, Inc. (Connecticut)
Hartford Accident and Indemnity Company (Connecticut)
Hartford Casualty Insurance Company (Indiana)
Hartford Underwriters Insurance Company (Connecticut)
Hartford Fire General Agency, Inc. (Texas)
Hartford Casualty General Agency, Inc. (Texas)
**Hartford Lloyd’s Insurance Company (Texas)
Northern Homelands Company (Minnesota)
Maxum Indemnity Company (Connecticut)
Maxum Casualty Insurance Company (Connecticut)
Maxum Specialty Services Corporation (Georgia)
Trumbull Insurance Company (Connecticut)
Hartford Specialty Insurance Services of Texas, LLC (Texas)
Horizon Management Group, L.L.C. (Delaware)
Property & Casualty Insurance Company of Hartford (Indiana)
Sentinel Insurance Company, Ltd. (Connecticut)
Pacific Insurance Company, Limited (Connecticut)
Hartford Insurance Company of the Southeast (Connecticut)
Hartford Insurance Company of the Midwest (Indiana)
Hartford Strategic Investments, LLC (Delaware)
FTC Resolution Company, LLC (Delaware) (1)
Hartford Investment Management Company (Delaware) (2)
New Ocean Insurance Co., Ltd. (Bermuda)
Hartford Holdings, Inc. (Delaware) (1) (4)
Hartford Life, Inc. (Delaware) (1)
Hartford Funds Management Group, Inc. (Delaware) (1)
Hartford Administrative Services Company (Minnesota)
Hartford Funds Management Company, LLC (Delaware) (2)
Lattice Strategies LLC (Delaware)
HL Investment Advisors, LLC (Connecticut)
Hartford Funds Distributors, LLC (Delaware) (3)
Hartford Life and Accident Insurance Company (Connecticut)
Hartford Group Benefits Holding Company (Delaware) (1)
Hartford Life, Ltd. (Bermuda)
Fountain Investors III, LLC (Delaware) (5)
Fountain Investors IV, LLC (Delaware) (5)
FP R, LLC (Delaware) (5)
Hartford Life Private Placement, LLC (Delaware)
Hartford Life Insurance Company (Connecticut)
Hartford Life International Holding Company (Connecticut) (1)
American Maturity Life Insurance Company (Connecticut)
Hartford International Life Reassurance Corporation (Connecticut)








*Hartford Lloyd’s Corporation is the Attorney-In-Fact for Hartford Lloyd’s Insurance Company.
**Hartford Lloyd’s Insurance Company is an association of underwriters authorized to offer commercial and personal lines insurance
products in Texas only. Hartford Lloyd’s Insurance Company acts by and through its Attorney-In-Fact as a Lloyd’s plan insurer.

Hartford Life and Annuity Insurance Company (Connecticut)
Hartford Financial Services, LLC (Delaware) (1)
HIMCO Distribution Services Company (Connecticut) (3)
Hartford Securities Distribution Company, Inc. (Connecticut) (3)
Hartford-Comprehensive Employee Benefit Service Company (Connecticut)
The Hartford International Asset Management Company Limited (Ireland)
Fountain Investors I, LLC (Delaware) (5)
Fountain Investors II, LLC (Delaware) (5)
Lanidex Class B, LLC (Delaware) (5)
Lanidex R, LLC (Delaware) (5)
Nutmeg Insurance Company (Connecticut)
Trumbull Flood Management, LLC (Connecticut)
Hartford Residual Market, L.L.C. (Connecticut)
Hart Re Group, L.L.C. (Connecticut) (1)
Fencourt Reinsurance Company, Ltd. (Bermuda)
HLA, LLC (Connecticut)
Hartford Management, Ltd. (Bermuda) (1)
Hartford Insurance, Ltd. (Bermuda)
        
**Ownership is 100% unless otherwise noted.

Endnotes:
(1)
Holding Company
(2)
Investment Advisor
(3)
Broker/Dealer
(4)
Hartford Fire Insurance Company owns 100% of the issued and outstanding Preferred Stock of Hartford Holdings, Inc. The Hartford Financial Services Group, Inc. is the owner of 100% of the issued and outstanding common shares of Hartford Holdings, Inc.
(5)
Special Purpose Entity

ITEM 27. NUMBER OF CONTRACT OWNERS

As of December 31, 2017, there were 37,724 Contract Owners.

ITEM 28. INDEMNIFICATION

Section 33-776 of the Connecticut General Statutes states that: "a corporation may provide indemnification of, or advance expenses to, a director, officer, employee or agent only as permitted by sections 33-770 to 33-779, inclusive."

Provision is made that the Corporation, to the fullest extent permissible by applicable law as then in effect, shall indemnify any individual who is a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, arbitrative or investigative, and whether formal or informal (each, a "Proceeding") because such individual is or was (i) a Director, or (ii) an officer or employee of the Corporation (for purposes of the by laws, each an "Officer"), against obligations to pay judgments, settlements, penalties, fines or reasonable expenses (including counsel fees) incurred in a Proceeding if such Director or Officer: (l)(A) conducted him or herself in good faith; (B) reasonably believed (i) in the case of conduct in such person's official capacity, which shall include service at the request of the Corporation as a director, officer or fiduciary of a Covered Entity (as defined below), that his or her conduct was in the best interests of the Corporation; and (ii) in all other cases, that his or her conduct was at least not opposed to the best interests of the Corporation; and (C) in the case of any criminal proceeding, such person had no reasonable cause to believe his or her conduct was unlawful; or (2) engaged in conduct for which broader indemnification has been made permissible or obligatory under a provision of the Corporation's Certificate, in each case, as determined in accordance with the procedures set forth in the by laws. For purposes of the by laws, a "Covered Entity" shall mean another corporation, partnership, joint venture, trust or other enterprise (including, without limitation, any employee benefit plan) in respect of which such person is serving at the request of the Corporation as a director, officer or fiduciary.

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

ITEM 29. PRINCIPAL UNDERWRITERS

(a) HSD acts as principal underwriter for the following investment companies:

Hartford Life Insurance Company - DC Variable Account I
Hartford Life Insurance Company - Separate Account One
Hartford Life Insurance Company - Separate Account Two





Hartford Life Insurance Company - Separate Account Two (DC Variable Account II)
Hartford Life Insurance Company - Separate Account Two (QP Variable Account)
Hartford Life Insurance Company - Separate Account Two (Variable Account "A")
Hartford Life Insurance Company - Separate Account Two (NQ Variable Account)
Hartford Life Insurance Company - Separate Account Ten
Hartford Life Insurance Company - Separate Account Three
Hartford Life Insurance Company - Separate Account Five
Hartford Life Insurance Company - Separate Account Seven
Hartford Life Insurance Company - Separate Account Eleven
Hartford Life Insurance Company - Separate Account Twelve
Hartford Life Insurance Company - Separate Account VLI
Hartford Life Insurance Company - Separate Account VLII
Hartford Life and Annuity Insurance Company - Separate Account One
Hartford Life and Annuity Insurance Company - Separate Account Ten
Hartford Life and Annuity Insurance Company - Separate Account Three
Hartford Life and Annuity Insurance Company - Separate Account Five
Hartford Life and Annuity Insurance Company - Separate Account Six
Hartford Life and Annuity Insurance Company - Separate Account Seven
Hartford Life and Annuity Insurance Company - Separate Account VLI
Hartford Life and Annuity Insurance Company - Separate Account VLII
American Maturity Life Insurance Company Separate Account AMLVA
ICMG Registered Variable Life Separate Account A
ICMG Registered Variable Life Separate Account One


(b) Directors and Officers of HSD
Name
Positions and Offices with Underwriter
Diana Benken
Chief Financial Officer, Controller/FINOP
Christopher S. Conner
AML Compliance Officer, Chief Compliance Officer, Privacy Officer, Secretary
Michael Chesman
Senior Vice President, Director of Taxes
Christopher J. Dagnault (1)
President, Chief Executive Officer, Director
Andrew Diaz-Matos
Vice President
Donald C. Hunt
Vice President
Kathleen E. Jorens
Vice President
Diane Krajewski
Director
Sabra R. Purtill
Treasurer
Robert Siracusa
Director
Mark M. Sosha
Vice President




Unless otherwise indicated, the principal business address of each of the above individuals is One Hartford Plaza, Hartford, CT 06155.
(1) Address: 500 Bielenberg Drive. Woodbury, MN 55125

(c) Not applicable.

ITEM 30. LOCATION OF ACCOUNTS AND RECORDS

All of the accounts, books, records or other documents required to be kept by Section 31(a) of the Investment Company Act of 1940 and rules thereunder are maintained by Hartford at One Hartford Plaza, Hartford, CT 06155.

ITEM 31. MANAGEMENT SERVICES

All management contracts are discussed in Part A and Part B of this Registration Statement.

ITEM 32. UNDERTAKINGS

(a)
The Registrant hereby undertakes to file a post-effective amendment to this Registration Statement as frequently as is necessary to ensure that the audited financial statements in the Registration Statement are never more than 16 months old so long as payments under the variable annuity Contracts may be accepted.

(b)
The Registrant hereby undertakes to include either (1) as part of any application to purchase a Contract offered by the Prospectus, a space that an applicant can check to request a Statement of Additional Information, or (2) a post card or similar written communication





affixed to or included in the Prospectus that the applicant can remove to send for a Statement of Additional Information.

(c)
The Registrant hereby undertakes to deliver any Statement of Additional Information and any financial statements required to be made available under this Form promptly upon written or oral request.

(d)
Hartford hereby represents that the aggregate fees and charges under the Contract are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by Hartford.

The Registrant is relying on the no-action letter issued by the Division of Investment Management to American Counsel of Life Insurance, Ref. No. IP-6-88, November 28, 1988. Registrant has complied with conditions one through four of the no-action letter.






SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf, in the City of Hartford, and State of Connecticut on January 16, 2018.


HARTFORD LIFE INSURANCE COMPANY
SEPARATE ACCOUNT SEVEN (Registrant)

By:
Brion S. Johnson*
*By:
/s/ Lisa Proch

Brion S. Johnson

Lisa Proch

President, Chairman of the Board

Attorney-in-Fact






HARTFORD LIFE INSURANCE COMPANY
(Depositor)

By:
Brion S. Johnson*

Brion S. Johnson

President, Chairman of the Board
,




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

Brion S. Johnson, President,


Chairman of the Board, Director*


Matthew J. Poznar, Senior Vice President, Director*
*By:
/s/ Lisa Proch
Robert W. Paiano, Executive Vice President, Director*

Lisa Proch
Peter F. Sannizzaro, Senior Vice President, Chief Accounting Officer,

Attorney-in-Fact
Chief Financial Officer*
Date:
January 16, 2018




333-176149
 
EXHIBIT INDEX
(9)
Opinion and Consent of Lisa Proch, Assistant General Counsel
(10)
Consent of Deloitte & Touche LLP, Independent Registered Public Accounting Firm
(15)
Awareness Letter
(99)
Power of Attorney