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Hartford Financial Said Near Sale of Japan Operation to Orix

Hartford Financial Services Group Inc., the insurer thats been focusing on property-casualty coverage, is near a deal to sell Japan operations to Orix Corp., according to two people with knowledge of their talks.

By Zachary Tracer | Updated on March 16, 2014

(Bloomberg) — Hartford Financial Services Group Inc., the insurer that’s been focusing on property-casualty coverage, is near a deal to sell Japan operations to Orix Corp., according to two people with knowledge of their talks.

The transaction would include retirement products known as variable annuities, said the people, who asked not to be identified because discussions are private. Orix would pay about $875 million, according to Nikkei, which reported on the talks yesterday.

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