The Hartford Financial Services Group, Inc. completed its divestiture of Omni Insurance Group, the company's non-standard property and casualty subsidiary, to Independent Insurance Investments, Inc.
Processing Content
The transaction, which closed Thursday, will result in an after-tax realized capital gain due to a tax benefit that will be recognized in the fourth quarter. The after-tax gain is not expected to be material to results of operations, the Hartford, Conn., companys aid.
The Hartford is one of the nation’s largest financial services and insurance companies with 2005 revenues of $27.1 billion.
