The Hartford Reorganizes Mutual Funds Business As Part Of Transformation

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As a small maneuver in a major transformation at The Hartford, the property-casualty insurer is reorganizing its Mutual Funds business.

Some support services for the Mutual Funds unit will be moved from Hartford Life and Accident Insurance Co. to Hartford Life Inc., according to a company filing Monday with the U.S. Securities & Exchange Commission.

The Hartford is selling off parts of its Wealth Management business as management restructures the business. Other parts, such as annuities, are in runoff, meaning they will be discontinued.

Mutual Funds is one of the businesses that The Hartford Financial Services Group is continuing, along with Group Benefits and Property Casualty.

On March 21, The Hartford announced plans to break up the company: putting annuities in runoff, selling life and retirement units, and focusing on property-casualty, group benefits and mutual funds.

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

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