Our Company
Talcott Resolution is a life insurance and annuity company with extensive product knowledge, robust risk and capital analytics, and an experienced and execution-focused team operating in a flexible cloud-based infrastructure.
We partner closely with our insurance company clients to identify the right solutions to transfer risk and manage capital in a way that supports their business needs.
Our People
Our commitment to a superior experience for our current and future clients is shared at all levels of our organization. In fact, we like to think we leverage our experience to improve yours. Our employees average 14 years’ experience with the company and, our leadership team, comprised of well-respected insurance and financial services professionals, average more than 25 years of industry experience.
Our Communities
At Talcott Resolution, we believe strongly in the value and strength of the communities where we live and work. That’s why we are actively involved in our local communities and our employees give generously of their time and resources within the Greater Hartford, Connecticut, Twin Cities, Minnesota and Philadelphia, Pennsylvania areas.
Our Timeline
Company is incorporated
Talcott Resolution is established through the incorporation of Hartford Life Insurance Company, a Massachusetts-based stock life insurance company.
Company redomiciles to Connecticut
Hartford Life Insurance Company becomes a Connecticut-domiciled insurer.
Sales of life insurance and annuity products commence
The company begins to offer a broad array of wealth management products to help provide lasting value for customers
- 1978 – Structured Settlements
- 1980 – Variable Annuities
- 1984 – Fixed Annuities
- 1993 – Corporate and Bank-Owned Life Insurance
- 1994 – Terminal Funding
Fortis Financial is acquired
On April 1, Fortis Financial Group’s life, annuity, and mutual fund businesses are acquired to advance the growth of the company’s life and asset accumulation businesses.
Peak sales and contract counts are reached
In the early 2000’s, peak sales and contract count volumes are achieved:
- 2003 – The company becomes the industry’s no. 1 seller of variable annuities as sales peak at $15 billion. 1
- 2004 – The company houses its greatest number of contracts on its flexible, in-house annuity administrative platform. Insurance contracts in-force total 2.2 million, including 1.8 million variable and fixed annuities contracts. 1 Morningstar
Combined assets under management hit $190 billion
On September 30, we reach a record volume for assets under management, with $190 billion in account value across all businesses.
Business priorities shift
On March 21, as The Hartford changes its business priorities, the sale of new products cease and the risk reduction of the in-force wealth management businesses begins.
Divestitures and in-force management actions mitigate risk
The company successfully executes on multiple complex divestitures:
- January 1, 2013 – Retirement plans business is reinsured to MassMutual.
- January 2, 2013 – Individual life insurance business is reinsured to Prudential Financial, Inc.
- July 1, 2014 – Japanese annuity subsidiary, Hartford Life Insurance K.K. is sold to ORIX Life Insurance Corporation.
In addition, we offer in-force annuity customers product options that provide them flexibility in how they utilize their benefits while advancing the goal of decreasing the risk on our closed blocks of businesses.
Talcott Resolution becomes independent
On May 31, the sale of the company to a group of investors is complete and Talcott Resolution becomes an independent insurer. As a result, Hartford Life Insurance Company is renamed Talcott Resolution Life Insurance Company.
Business platforms enhanced
We implemented a scalable cloud-based technology while we enhanced our risk, actuarial, hedging and portfolio management capabilities.
Sixth Street transaction completed
On June 30, we successfully completed our sale to Sixth Street, a leading global investment firm.
Reinsurance transaction completed
On September 23, we announced and closed a flow reinsurance transaction with Lincoln Financial Group.
Capabilities expanded
On October 1, we reacquired the administration of our COLI/BOLI business that was sold in 2012.
Reinsurance transaction completed
On December 30, Talcott completed a reinsurance agreement with Allianz Life. $20 billion of fixed indexed annuity liabilities were placed with Talcott and one of its Bermuda affiliates.
Continuing to grow our business
Talcott Resolution is a strategic risk partner that effectively manages its existing business and provides insurers with solutions to create capital flexibility and risk management efficiencies.