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Hartford Keeping Life, P/C Insurance Units

 

Wednesday, May 20,2009, 1:21:14 PM   Click:

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MarketWatch

May 18, 2009 Monday 11:49 AM EST

LENGTH: 125 words


HEADLINE: Hartford keeping life, p/c insurance units:Report

BYLINE: Greg Morcroft



NEW YORK (MarketWatch) -- Hartford Financial Services Group Inc (hig) will not break up the firm and will retain its life and property/casualty insurance businesses, according to a published report Monday. Bloomberg News on Monday quoted an internal memo it obtained in which the company told employees that, "The best way to deliver long-term value to our shareholders is to return to our historical strengths as a U.S.- centric insurance company, with a focus on our strong portfolio of protection businesses, primarily property and casualty, group benefits and life." Hartford shares rose 8.7% Monday, to trade at $15.87.

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