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Hartford may turn to sale of P/C operations; Struggling life units seen as drag on results of combined company.

Publication: Business Insurance
Publication Date: 27-APR-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Hartford may turn to sale of P/C operations; Struggling life units seen as drag on results of combined company.(Hartford Financial Services Group Inc.)(property and casualty business)

Article Excerpt
Byline: JUDY GREENWALD

Hartford Financial Services Group Inc.'s failure so far to sell its troubled life insurance operations may instead force the company to sell its profitable property/casualty business, analysts say.

Reports emerged last week that Hartford was seeking a buyer for its property/casualty operations, with companies such as Travelers Cos., ACE Ltd., MetLife Inc. and Munich Reinsurance Co. named as possible buyers. In addition, Reuters reported that Hartford had retained Goldman Sachs & Co. to assist in the sale process. Representatives of those companies had no comment or could not be reached for comment.

Last month, reports said Hartford was negotiating to sell most of its life operations to Toronto-based Sun Life Financial Inc., but no such deal has been announced.

Falling equity values have hit the life operations'...

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