Wealth management

In Brief: Ace Group Buys Hart Life Insurance

May 10, 2006, 1:00 a.m. EDT 1 Min Read

Ace Group of Insurance and Reinsurance Cos. announced Tuesday that it had bought Hart Life Insurance Co. from Hartford Financial Services Group. The acquisition is the Stamford, Conn., company's entry into the U.S. life reinsurance market. Hart Life, which has been inactive in recent years, is licensed in 49 states and the District of Columbia.

Ace will begin marketing life reinsurance products and services under its Ace Tempest Life Re brand following state regulatory approvals. Ace Tempest Life Re USA will offer reinsurance for the individual life business using yearly renewable term and coinsurance structures.

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Wealth management

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