Philadelphia Financial Buys Insurance Arm From The Hartford

Jul 16 2012 | 9:41am ET

Philadelphia Financial Group, a high-net-worth private placement insurance provider, has acquired the private placement insurance business unit of The Hartford Financial Services Group.

Philadelphia Financial now administers over $40 billion in insurance policy accounts.

“This transaction marks an important milestone in our acquisition growth strategy,” said Philadelphia Financial CEO John K. Hillman in a statement.

Reinsurance Group of America provided financing to Philadelphia Financial in this transaction.



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