(Bloomberg) -- Hartford Financial Services Group Inc., the insurer which rebuffed an activist’s calls to split into two companies last year, is considering a sale of a business that offered companies life insurance policies on their employees, people with knowledge of the matter said.

Hartford has held talks with investment banks about a possible sale of its corporate-owned life-insurance unit, which could fetch around $200 million, said the people, asking not to be identified because the matter is not public. The unit had policies with $37 billion in account value as of the end of March, according to company presentation.

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