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The Hartford to sell or merge individual life, Woodbury Financial Services

Published
  • March 22 2012, 3:53pm EDT

The Hartford announced Wednesday that it will stop its individual annuity business and is pursuing “sales or other strategic alternatives” for its individual life, Woodbury Financial Services and retirement plans.

The insurer says the move is a result of management and Board of Directors evaluation of the company’s strategy and business portfolio conducted over the past several quarters. New annuity sales will stop April 27.

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