Moody’s To Lower Hartford Financial’s Ratings

MarketWatch reports that Moody's has lowered its ratings for Hartford Financial. The annuity provider's life insurance business was downgraded to A1. This means Hartford no longer is high-credit-quality. Future downgrades could be forthcoming, since Moody's also has a negative outlook for Hartford. A Hartford representative blames the credit crunch for making it harder to hedge against future losses in variable... Read More

Hartford To Launch Variable Annuity With Lifetime Benefit in May

An article in the Retirement Income Reporter states that this May, Hartford Financial is planning to launch a new variable annuity product with a guaranteed lifetime benefit. While a lifetime benefit can be quite appealing to individuals nearing retirement, there is a catch in this offering.Hartford has also announced that in order to keep costs low enough to appeal to consumers, this annuity will have some "constrained features"; said constraints are unknown at this point. These limits... Read More

Life Insurers Buy S&L Institutions To Get Federal Money

Hartford Business Journal's Greg Bordonaro has mentioned the recent trend in major life insurance companies acquiring small savings and loan institutions.Lincoln National, Hartford Financial, and Genworth Financial are among those that have recently bought up S&Ls.The acquisitions make life insurers eligible for funding from the Capital Purchase Program provided by the federal government. That program's money is reserved for depository... Read More

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