The Hartford to Sell UK Variable Annuity Business to Berkshire Hathaway for $285M

The Hartford has signed a definitive agreement to sell its subsidiary, Hartford Life International Limited (HLIL), in a cash transaction to Columbia Insurance Company, a Berkshire Hathaway

company, for approximately $285 million. At closing, HLIL's sole asset will be its subsidiary, Hartford Life Limited (HLL), a Dublin-based company that sold variable annuities in the U.K. from 2005 to 2009. “The Hartford has made significant progress reducing the size and risk of Talcott Resolution's legacy variable annuity blocks and the business unit is now self-sufficient from a capital perspective,” said Christopher J. Swift, executive vice president and chief financial officer for The Hartford. “Selling the U.K. business is another meaningful step forward. We are pleased with