Hartford Life intends to continue calling its Hopmeadow Street headquarters home as the company expands its U.S. and international businesses
The Hartford Financial Services Group, Inc. (NYSE: HIG) announced plans to purchase the 200 Hopmeadow Street world headquarters of its life operations when the current lease for the building expires in 2010. The plan to purchase the 611,000-square-foot, four-story office building nestled at the foot of Talcott Mountain solidifies a commitment by The Hartford to its Connecticut-based workforce. The purchase price was not disclosed.
“Hartford Life has experienced tremendous growth since it planted roots in Simsbury in 1986 and has become a leader in both the life insurance and financial services industries in the process,” said Liz Zlatkus, co-chief operating officer of Hartford Life. “We’ve built an entrepreneurial culture and we want to continue nurturing that culture in Connecticut. When completed, this planned purchase of our Simsbury headquarters will solidify our commitment to the Greater Hartford area and give us a solid foundation to continue growing, both in the U.S. and internationally.”
Approximately 3,000 employees work at Hartford Life’s headquarters and another 2,000 employees are located in offices in Windsor and Avon. Recently, construction began on a new campus for Hartford Life in Windsor that will combine several smaller offices in Windsor and augment Hartford Life’s space needs in Simsbury. There are a total of 10,000 Hartford Life employees throughout the United States, Japan, Brazil, the United Kingdom and Ireland.
Since moving to Simsbury from Hartford, Hartford Life has grown from a small, specialty life insurer to the fourth largest life insurance company in the U.S. based on statutory assets reported in 2006.
“Hartford Life is a leader, not only in the financial and insurance arenas but as an outstanding corporate neighbor to the Simsbury and Farmington Valley communities,” said Thomas Vincent, Simsbury first selectman. “The Town of Simsbury is extremely pleased to learn that Hartford Life will continue to make Simsbury its home.”
Hartford Life is a leading seller of variable annuities, variable universal life insurance, mutual funds, group life and disability insurance, and 401(k) retirement savings plans. In Japan, Hartford Life is the No. 1 seller of variable annuities based on assets under management as of March 31, 2007 (the latest figure available) and is a leading seller of savings, insurance and retirement products in Brazil. Recently, Hartford Life started a retirement products business in the United Kingdom and established its European headquarters and service center in Ireland.
The Hartford, a Fortune 100 company, is one of the nation's largest diversified financial services companies, with 2006 revenues of $26.5 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, Brazil and the United Kingdom. The Hartford's Internet address is www.thehartford.com.
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include, without limitation, those discussed in our Quarterly Reports on Form 10-Q, our 2006 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.