Market Overview

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

Share:

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 (NYSE:…

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 (NYSE: BRK.B) 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

See full press release

Posted-In: News Guidance Contracts Asset Sales M&A Global

 

Related Articles (BRK.B + HIG)

View Comments and Join the Discussion!