Hartford's annuities departure: Tough, but not end of the world
Putting a financially faltering business up for sale amid tremendous growth for guaranteed income products came as a shock, but may not signal the apocalypse for the industry.
By Andy Stonehouse |
Updated on March 22, 2012
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The news this week that Hartford Financial Services Group has made a rather sudden exit from the annuities business is surely the kind of moment that prompts many folks in the retirement business to check their footing.
But is this most recent about-face on the part of a major carrier a harbinger of things to come or an isolated incident, especially as a challenged market continues to settle back into its foundations after nearly four years of struggles?
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