Last week, it announced a new corporate strategy aimed at expanding its assets under management by better aligning its two companies, Hartford Life and Hartford Property and Casualty. It announced it would change its dual-silo structure so Hartford acts as one company with three consumer divisions: commercial markets, consumer markets and wealth management.
The company, which announced the reorganization as it repaid $3.4 billion to the
“We want to do a better job of comprehensively serving business owners,” said John Walters, the president of its wealth management business. “When we look at all of the Hartford, we have one million businesses as customers, but from a wealth management standpoint, we never focused on going after their wealth management needs. This is a new initiative for us.”
Walters said he plans to cross-sell the company’s life insurance and retirement capabilities to these existing customers that own businesses.
