The Hartford Closes Acquisition Of Equitable’s Employee Benefits Business

Purchase expands non-medical product offerings and technology serving small and midsize employers

HARTFORD, Conn.--(BUSINESS WIRE)--The Hartford completed its acquisition of Equitable’s¹ Employee Benefits business, which represents approximately $500 million in premium in non-medical benefits and Equitable’s Employee Benefits technology. The acquisition accelerates The Hartford’s Employee Benefits growth strategy by expanding product offerings and technology focused on small and midsize employers.

“Today’s closing marks an important milestone that strengthens our leadership in employee benefits and small business and reinforces our commitment to this important business segment,” said The Hartford’s Chairman and CEO Christopher Swift. “By bringing our capabilities together, we are even better positioned to deliver the expertise, solutions and service that small and midsize businesses need to support their employees and achieve their goals.”

The acquired Employee Benefits portfolio includes group life, disability, paid family and medical leave, supplemental health, as well as dental and vision coverage. The transaction also includes approximately 300 employees and technology that supports unified digital capabilities and real-time API integrations, making it easier for brokers, employers and their employees to manage benefits information across systems.

“This transaction brings together talented teams, deep expertise, expanded product offerings and modern technology to better serve small and midsize employers,” said Mike Fish, head of Employee Benefits at The Hartford. “As we integrate these capabilities, we remain focused on providing our existing customers and brokers with the responsive service and support they expect from us. At the same time, we will create an easier, more connected benefits experience that can serve more employers and help them meet the evolving needs of their workforce.”

Financial terms of the transaction were not disclosed.

About The Hartford

The Hartford is a leader in property and casualty insurance and employee benefits. By anticipating challenges and reducing risks our customers face, the company helps people and businesses thrive with confidence. Built on a foundation of trust, The Hartford is committed to strong performance, exceptional customer experiences and bold innovation, hallmarks of its sustained success since 1810.

The Hartford Insurance Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. More information on the company and its financial performance is available on its website. For additional details, please read The Hartford’s legal notice.

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¹ Equitable is a leading financial services organization and principal franchise of Equitable Holdings, Inc.

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