- Hartford Life Insurance K.K. was sold to a subsidiary of ORIX Corporation for $963M.
- The sale is another step in Hartford's (HIG) move to de-risk and instead focus on P&C insurance, Group Benefits, and Mutual Funds. Management expects the sale will result in a net statutory capital benefit of $1.4B, $1B of which could potentially be used for capital returns, and Hartford is seeking approval for extraordinary dividends from the Connecticut Insurance Department.
- Source: Press Release
From other sites
at MarketRealist.com (Mar 24, 2015)
Hartford Financial Services : The Hartford : Offers Customizable Liability Coverage For Educational Institutionsat 4-traders.com (Mar 23, 2015)
at Nasdaq.com (Mar 4, 2015)
UPDATE: Keefe, Bruyette & Woods Raises PT On Hartford Financial Services Group On Updated Target Price Methodologyat Benzinga.com (Jan 2, 2015)
at CNBC.com (Oct 28, 2014)
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