The Connecticut Insurance Department has approved The Hartford Financial Services Group's request for relief from two capital requirements, which the company said has resulted in a $987 million increase to its life operations' estimated statutory surplus.
Last Friday Hartford chief financial officer Lizabeth H. Zlatkus said in a conference call the company had requested "AG39 relief from our year-end reserve calculation from the Connecticut Department of insurance."
Hartford spokesperson Shannon Lapierre described AG39 as a variable annuity cash flow test requirement.
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