HARTFORD, Conn. (AP) — Hartford Financial Services Group Inc. is exiting the annuity business so it can focus on its property and casualty insurance, group benefits and mutual funds.
The company said Wednesday that it is also looking to sell or pursue other options for its individual life, retirement plans and broker-dealer Woodbury Financial Services. It will continue to seek new business in them in the meantime.
Christopher Swift, executive vice president and chief financial officer, said in a statement that the individual life, Woodbury Financial Services and retirement plans "will be better positioned for success as part of other organizations."
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