• Skip to content
  • Skip to primary sidebar

Expert Insurance Reviews

Insurance Company Reviews, Ratings and Complaints

  • Top-Rated
  • Compare
    • Car Insurance
    • Home Insurance
  • Quotes
    • Car Insurance
    • Home Insurance
    • Life Insurance
    • Health Insurance
    • Medicare Supplement
    • Renters Insurance
    • Motorcycle Insurance
  • Reviews

Prudential to Buy The Hartford’s Life Insurance Division

By Eric Stauffer on October 9, 2012 0

Prudential has publicly announced that they have reached an agreement with The Hartford to buy their individual life insurance division for over $600 million in cash. The deal is expected to be finalized sometime in 2013, and was based on the book value of The Hartford’s accounts as of the end of June, 2012.

This move will put Prudential in the top five US life insurers based on overall premium sales.

Policy owners will not see much change, since the named insurer will remain The Hartford. Once the sale is final, Prudential will be responsible for actually paying and managing the claims, even though The Hartford’s name will remain on the policy for the time being.

The current CEO of The Hartford’s individual life insurance division, Jim Avery will retire when the agreement becomes final, and will be succeeded by Kent Sluyter, who currently serves as Vice President and chief actuary.

Jim was originally slated to retire in 2012, but agreed to stay onboard when the acquisition opportunity became available.

Read the press release in its entirety, here.

 

About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

We Recommend

Get a FREE Quote:

AUTO HOME

Featured Reviews

Read Review Get a Quote
Read Review Get a Quote
Read Review Get a Quote
Read Review Get a Quote
Get Quotes
· 1-800-299-4101

Connect

Resources

Blog · About · Contact · Privacy · TOS · Sitemap

© 2019 ExpertInsuranceReviews.com, LLC · All Rights Reserved · All Logos & Trademarks Belong To Their Respective Owners