NU Online News Service, Feb. 14, 2005, 4:23 p.m. EST
A New England insurer is paying $29 million for a block of life and accident insurance business from another carrier.[@@]
Hartford Financial Services Group Inc., Hartford, is acquiring the 100,000-policy block from Union Labor Life Insurance Company, Washington.
Union Labor, a unit of ULLICO Inc., will use the sale proceeds to increase its capital and surplus position, says Mark Singleton, ULLICO’s chief financial officer.