by John Darer CLU ChFC MSSC CeFT RSP CLTC
The Hartford sale of Talcott Resolution was completed on May 31, 2018
Hartford Financial Services Group announced on December 4, 2017 that it would sell its life and annuity run off unit to a group of investors for $2.05 billion, as it looks to focus on its property and casualty businesses. Talcott Resolution is the run off company for Hartford's legacy life and annuity business. including structured settlement annuities (which Hartford Life stopped writing in April 2012). The investor consortium led by Cornell Capital, Atlas Merchant Capital LLC, TRB Advisors LP, Global Atlantic Financial Group, Pine Brook and J. Safra Group. The Hartford retains a 9.7% stake in the new company.
Approximately 375 Hartford employees have become employees of the standalone entity, which will be based in Windsor, CT and will have an office in Woodbury, MN.