Report: Hartford nears sales of Japanese ops to Orix for $875M

|About: Hartford Financial Servic... (HIG)|By:, SA News Editor

Hartford Financial Services Group (HIG) is reportedly close to an agreement to sell its Japan operations to Orix Corp for $875M.

The sale would be part of Hartford's efforts to limit liabilities connected to life and retirement plans that were issued in the past.

Sterne Agee & Leach analyst John Nadel expects any sale to free up at least $600M that was supporting Hartford's Japanese obligations.