Shannon Lapierre News
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Hartford Financial Services Group Inc., the insurance company pruning operations after an activist investor urged it to split up last year, hired Deutsche Bank AG to seek a buyer for its Japanese business, people with knowledge of the matter said.
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Hartford Financial Services Group Inc. said Chief Executive Officer Liam McGee had a tumor removed from his brain and will return to work Jan. 14.
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Even if John Paulson persuades Hartford Financial Services Group Inc. to break itself up, the hedge fund manager could still come up short in his billion- dollar bet on the 201-year-old insurer.
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Chubb Corp., which mocked rivals for receiving federal aid during the 2007-2009 financial crisis, is leading the largest publicly traded U.S. insurance firms by producing the highest risk-adjusted return.
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John Paulson, who controls the biggest stake of Hartford Financial Services Group Inc., held a call with analysts covering the insurer as he increases pressure on Chief Executive Officer Liam McGee to break up the company.
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Jay Wintrob, the head of American International Group Inc.’s life insurance business, said the bailed-out firm could consider bidding on units that Hartford Financial Services Group Inc. is seeking to divest.
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Hartford Financial Services Group Inc. Chief Executive Officer Liam McGee may follow Axa SA and Aegon NV’s Transamerica in offering to pay customers to exit savings products that are weighing on the company’s results.
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Prudential Financial Inc. has emerged as the lead bidder for Hartford Financial Services Group Inc.’s individual life insurance business, which may sell for about $1 billion, said two people with knowledge of the matter.
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Hartford Financial Services Group Inc. Chief Executive Officer Liam McGee, the ex-banker hired in 2009 to restore profits, is resisting renewed pressure from Wall Street to split apart the 201-year-old insurer.
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Hartford Financial Services Group Inc. was the biggest buyer among U.S. insurers of the 2007 Fannie Mae securities offerings that were cited in a lawsuit against Goldman Sachs Group Inc. , SNL Financial said.
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