Executive Life May Move Many Policies
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HARTFORD, Conn. — As many as 200,000 holders of Executive Life Insurance Co. policies could have their coverage switched to the higher-rated Hartford Life Insurance Co. if a deal the companies are negotiating goes through, Hartford said Monday.
Such an “assumption reinsurance” deal probably would be a benefit to holders of any policies that are switched because of both Hartford’s top credit rating and concerns about Executive Life.
However, the impact on Executive Life’s remaining clients was uncertain because specifics of the deal have not been worked out.
An Executive Life spokesman, confirmed that his company is talking about such a transfer to Hartford but declined to say why.
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