Filed Under:Annuities, Variable

Hartford Financial said near sale of Japan operation to Orix

Liam McGee, Chairman of Hartford Financial Services, center, opening bell ceremonies of New York Stock Exchange in 2010. (AP Photo/Richard Drew)
Liam McGee, Chairman of Hartford Financial Services, center, opening bell ceremonies of New York Stock Exchange in 2010. (AP Photo/Richard Drew)

(Bloomberg) -- Hartford Financial Services Group Inc., the insurer that’s been focusing on property-casualty coverage, is near a deal to sell Japan operations to Orix Corp., according to two people with knowledge of their talks.

The transaction would include retirement products known as variable annuities, said the people, who asked not to be identified because discussions are private. Orix would pay about $875 million, according to Nikkei, which reported on the talks earlier today.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Nichole Morford

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