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Hartford Says States Continue Annuity Probe

By Trevor Thomas

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The Hartford Financial Services Group Inc. says it has received more subpoenas for information about its group annuity products from the attorneys general of Connecticut and New York state.[@@]

In papers filed with the U.S. Securities and Exchange Commission, Hartford said the 2 attorneys general have asked about the company’s compensation arrangements with brokers selling the company’s group annuities.

The company said it “continues to cooperate fully” in the state investigations.

In January, Hartford announced it had received subpoenas from New York Attorney General Elliott Spitzer for information about fees the company paid to distributors and from Connecticut Attorney General Richard Blumenthal about its group annuities.

Hartford also previously disclosed that the SEC has asked for information about its sales of annuities and mutual funds.