Hartford Financial Services Group Inc. is infusing $20 million into a troubled Florida thrift to keep it afloat, buying time in hopes the Treasury Department will allow insurers to participate in the Troubled Asset Relief Program.

The Hartford could lose the investment if its deal to buy Federal Trust Corp. falls through, observers said. But with regulators threatening to seize the $585 million-asset thrift—and eliminate Hartford's best chance at government capital—the gamble is worth taking, they said.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access