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25 February 2018

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The Hartford to reap $3bn from Talcott sale

Laura Board 4 December 2017

The Hartford has concluded the long-running auction for Talcott Resolution with a deal for the run-off life and annuity business that is worth a lower-than-expected $3bn to the seller.

The buyers include Cornell Capital, Atlas Merchant Capital, Pine Brook, TRB Advisors, Global Atlantic Financial and J Safra Group.

The Hartford had entered exclusive talks in July to sell the business to Bob Diamond's Atlas Merchant for about $3.5bn. This publication reported in September that The Hartford had begun approaching under-bidders...

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