The Hartford on Oct. 13 said it completed its buy of Equitable’s employee benefits business to bolster the insurer’s growth in the small and midsized employer segment.
The move will bring in about $500 million in premium in non-medical benefits, as well as Equitable’s employee benefits technology.
The acquisition was first announced in August. Terms of the deal were not disclosed.
The acquired portfolio includes group life, disability, paid family and medical leave, supplemental health, as well as dental and vision coverage, plus about 300 employees.
“As we integrate these capabilities, we remain focused on providing our existing customers and brokers with the responsive service and support they expect from us,” said Mike Fish, head of employee benefits at The Hartford, in a statement. “At the same time, we will create an easier, more connected benefits experience that can serve more employers and help them meet the evolving needs of their workforce.”
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