The Hartford Financial Services Group Inc. says it has agreed to sell its medical stop-loss insurance business to National Benefit Resources Inc.
NBR is a subsidiary of UnitedHealth Group Inc., Minnetonka, Minn.
The transaction, the terms of which were not disclosed, is expected to close in early April.
The sale will allow The Hartford’s group benefits division to focus on expanding its share of the group disability and life insurance markets, said Lizabeth Zlatkus, president of The Hartford’s international wealth management and group benefits division.