Prudential Completes its Acquisition of The Hartford’s Individual Life Insurance Business
Prudential has completed its acquisition of The Hartford’s Individual Life Insurance business through a reinsurance transaction. The acquisition allows us to broaden our product and distribution capabilities and strengthens our position among the largest life insurance companies in the U.S. Kent Sluyter, incoming chief executive officer of Prudential Individual Life Insurance, said "We look forward to integrating the two businesses, providing exceptional service to The Hartford’s existing individual life policy owners and enhancing Prudential’s leadership positions in universal, term and variable life insurance.”
It is important to note that:
- The benefits and provisions of The Hartford's in-force life insurance contracts will remain unchanged, and The Hartford’s issuing companies will continue to be the named insurers.
- The Prudential Insurance Company of America will receive premiums and will be responsible for paying claims and providing customer service and administration.
- For now, Financial Professionals will continue to do business with Prudential and with The Hartford in the same way that they did prior to the closing of the transaction.
- As the integration of Prudential’s Individual Life Insurance business and that of The Hartford proceeds, timely updates concerning any changes in product offerings, policies, and procedures will be provided to Financial Professionals.
Read Prudential’s corporate press release on the acquisition.
Hartford policyholders can contact 1-800-231-5453 (Monday – Friday 8:30am to 7:00 pm EST).