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Actionable news in HIG: THE HARTFORD FINANCIAL SERVICES GROUP Inc,

Exclusive: Former Barclays CEO close to deal to buy Hartford unit - sources

(Reuters) - Atlas Merchant Capital LLC, the investment firm led by former Barclays Plc Chief Executive Officer Bob Diamond, is in advanced talks to acquire a Hartford Financial Services Group Inc annuity run-off business for between $3 billion and $3.5 billion, people familiar with the matter said on Thursday.

Divesting the unit, dubbed Talcott Resolution, would help Hartford recycle capital, allowing it to shed a business that no longer writes new contracts and focus on more profitable, non-life insurance parts of its operations.

Atlas has prevailed in an auction for Talcott Resolution, two sources said. While there is no certainty that the...


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