The Hartford Financial Services Group Inc. said Tuesday it will use funds raised from debt and equity offerings as part of a plan to repay the $3.4 billion it borrowed from the government under the Troubled Asset Relief Program in 2009.
The Hartford, which ran into problems after investments by its life operations plummeted during the 2008 financial crisis, will repurchase preferred shares it issued to the U.S. Treasury, the Hartford, Conn.-based insurer said in a statement.
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