Skadden Reps MassMutual In Hartford Retirement Plans Buy

Law360, New York (September 4, 2012, 7:19 PM EDT) -- Massachusetts Mutual Life Insurance Co. has agreed to buy the retirement plans business of rival insurance company The Hartford Financial Services Group Inc. for $400 million as The Hartford sharpens its focus on insurance underwriting, the parties announced Tuesday.

The sale, structured as a reinsurance transaction, is subject to regulatory approvals and price adjustment and is expected to close by the end of the year. It will bolster MassMutual's existing $66.2 billion retirement plans business and help The Hartford lower expenses, increase capital generation and reduce...
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