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Life Health > Life Insurance

Nutmeg State To Review ACE Deal

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A unit of ACE Ltd. has asked the Connecticut Insurance Department for permission to buy a life insurance company from a unit of Hartford Financial Services Group Inc.

The Connecticut department has scheduled a March 30 hearing in Hartford on the ACE application.

The unit of ACE, Hamilton, Bermuda, wants to acquire Hart Life Insurance Company, a small life insurance company that has been through a number of acquisitions and name changes.

Before Hartford, Simsbury, Conn., acquired Hart Life, Hart Life was known as Alpine Life Insurance Company.

Hart Life also has been a unit of MetLife Inc., New York, and Crum & Forster Holding Inc., Morristown, N.J. Hart Life started out as American Eagle Life Insurance Company, according to records compiled by the Texas Department of Insurance.

Earlier this month, Connecticut regulators approved an application by XL Capital Ltd., Hamilton, Bermuda, to acquire another Hartford life subsidiary, Servus Life Insurance Company

The hearing notice is on the Web at Document Link


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