Hartford seen boosting buybacks after unit sale
April 28, 2014 by Zachary Tracer and Komaki Ito
( Bloomberg) — Hartford Financial Services Group Inc. will probably expand share repurchases after agreeing to sell its Japanese operations to Orix Corp. for about $895 million.
The U.S. insurer could repurchase $1.05 billion of stock, while paying down $350 million of debt, John Nadel, an analyst at Sterne Agee & Leach Inc. said today in a research note. Hartford will receive sales proceeds of $860 million and free up an additional $540 million tied to the termination of reinsurance agreements, according to a statement today. Click here to read…
Originally Posted at LifeHealthPro on April 28, 2014 by Zachary Tracer and Komaki Ito.
Categories: Industry Articles
