Following last month’s decision under pressure to sell off the bulk of its life insurance-related business and completely close its annuity business, The Hartford now plans to pay back Allianz SE (along with certain of its affiliates) most of the financial aid it received during the financial crisis, the company reports.
Last month, The Hartford’s largest shareholder, hedge fund manager John Paulson, noted publicly that the move to sell off operations was a “good first step,” but hinted that the company could do more to create financial parity to soothe investors’ concerns.
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