Hartford to sell Japanese unit to Orix for $895M

• As flagged last month, Hartford Financial Services (NYSE:HIG) has agreed to sell Japanese unit Hartford Life Insurance to Orix Corp (NYSE:IX) in a deal worth $895M.
• The Japanese financial conglomerate intends to combine the Hartford unit with its Orix Life Insurance.
• The sale is part of Hartford's efforts to limit liabilities connected to life and retirement plans that were issued in the past.