Endurance Buys The Hartford's Re Biz

NU Online News Service, May 16, 2:15 p.m. EDT?The Hartford Financial Services Group Inc.?which announced this week its decision to exit its property-casualty reinsurance business offered through HartRe?said today it has sold most of its reinsurance unit to Endurance Specialty Holdings.

This newly disclosed transaction, The Hartford said, includes the sale of renewal rights for existing business as well as the transfer of the majority of the unearned premium reserves beginning last month.

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