Hartford To Sell Its U.K. Property & Casualty Run-off Subsidiaries - Quick Facts

(RTTNews) - The Hartford (HIG) announced it has entered into a definitive agreement to sell its U.K. property & casualty run-off subsidiaries, Downlands Liability Management Limited and Hartford Financial Products International Limited, to Catalina Holdings UK Limited. The company said the transaction is not expected to result in a material gain or loss, net of tax effects, on The Hartford's financial results.

The U.K. businesses have been largely in runoff since 1993. They primarily consist of U.S. asbestos and environmental liabilities, most of which was previously underwritten by Excess Insurance Company Limited, as well as U.K. asbestos liabilities.