US life insurance company suspends service

Mon, 11 May 2009

American financial services company The Hartford have decided to suspend selling new insurance policies and investment products in the UK, following the impact of the credit crunch and ongoing financial instability.

The UK subsidiary of the company, Hartford Life, is expected to close in the next few months. This will include the sales and marketing operations of the company. From 8th May onwards, the company will no longer sell products in the UK.

Life insurance experts indicate that the closure is likely to be permanent. Life insurance is an extremely competitive market in the UK, with reports earlier this year confirming that life insurance is at its cheapest ever.
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