Conning Asset Management will be handling the investment portfolios of the remaining insurance company units of Citigroup Inc.
The deal, which involves about $8 billion in assets, took effect Jan. 1, according to Conning Company, Hartford., the parent of Conning Asset Management.
Conning is a unit of Swiss Reinsurance Company, Zurich.
The terms of the Conning deal were not immediately available.
Since Citigroup, New York, sold Travelers Life Insurance Company to MetLife Inc., New York, in 2005, its remaining insurance affiliates have been Primerica Life Insurance Company, American Health & Life Insurance Company and CitiFinancial International, which sells credit-related policies along with loans.