Just more than a month after The Hartford announced that they were placing their annuity business into runoff and trying to sell other businesses, the company announced the sale of its individual annuity business capabilities—consisting of product management, distribution and marketing units, as well as a suite of products being sold—to Houston-based Forethought Financial Group.
“Over the last 12 months, our individual annuity team has done a tremendous job rebuilding our market presence through differentiated products and best-in-class distribution,” said David N. Levenson, president of The Hartford’s Wealth Management division. “Building on this track record, I am confident the business will thrive under Forethought’s ownership.”
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