Hartford completes acquisition of Equitable’s employee benefits unit

Hartford announced the successful completion of its acquisition of Equitable's Employee Benefits business, as revealed in a press release. The deal encompasses roughly $500 million in premium for non-medical benefits products, along with the technology platform operated by Equitable. This acquisition bolsters The Hartford's portfolio with group life, disability, paid family and medical leave, supplemental health, dental, and vision coverage.

Notably, approximately 300 employees from Equitable have joined The Hartford as part of this transaction.

Christopher Swift, Hartford's Chairman and CEO, commented that the closing enhances the company's standing in employee benefits and small business segments. Mike Fish, The Hartford's head of Employee Benefits, explained that the transaction consolidates teams, expertise, products, and technology to cater to small and midsize employers.

The Hartford, headquartered in Hartford, Connecticut, is a provider of property and casualty insurance and employee benefits, operating since 1810. The financial details of the transaction have not been disclosed.