The Hartford has completed the $615 million sales of its individual life insurance unit to Prudential Insurance.
Prudential made the acquisition through a reinsurance transaction announced last September.
Hartford’s in-force contracts remain unchanged, while Prudential will be responsible for customer service and paying claims.
Also, The Hartford’s deals to sell its retirement plans to MassMutual, and its individual annuity business to Forethought Financial Group, have been completed.
The Hartford closed its sale of Woodbury Financial to AIG in December.
The moves are part of The Hartford’s strategy to re-focus primarily on property-casualty insurance, group benefits and mutual funds.
Hartford closes life, retirement deals with Prudential, MassMutual via IFAwebnews.com .
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