BUSINESS BRIEFS / INSURANCE
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TIMES WIRE REPORTS
Insurer Hartford Financial Services Group Inc. said it would offer $750 million in stock to private investors.
Hartford said it would use the proceeds for general corporate purposes, including the possible repurchase of outstanding debt.
The company also said it would participate in the U.S.’ financial-system bailout program.
Hartford said it received preliminary approval to participate in the program for about $3.4 billion.
Shares of Hartford fell $1.13, or 8%, to $12.95.
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