Summary
This 8-K filing from The Hartford Financial Services Group, Inc. (HIG) on December 31, 2012, discloses a significant operational restructuring within its Mutual Funds business. Specifically, Hartford Life and Accident Insurance Company (HLA), an indirect subsidiary, received regulatory approval to reorganize its mutual funds operations. This reorganization is slated for completion by the end of 2012 and involves distributing certain subsidiaries that support the mutual funds business to Hartford Life, Inc., which is HLA's parent company and a direct subsidiary of The Hartford.
Key Highlights
- 1Regulatory approval received for the reorganization of The Hartford's Mutual Funds business.
- 2The reorganization is expected to be completed by December 31, 2012.
- 3Certain subsidiaries supporting the Mutual Funds business will be distributed.
- 4The distribution will be made to Hartford Life, Inc., a direct subsidiary of The Hartford.
- 5This move is an indirect action by The Hartford Financial Services Group, Inc. (HIG).