The Hartford’s move to acquire its close neighbour Navigators Group has taken many by surprise—but it could make good strategic sense for the company, which can now target global growth. Its aspirations for the reinsurance side of its new business will also raise a few eyebrows in the market, as Intelligent Insurer finds.
Founded in 1810 in Hartford, Connecticut, where it still has its headquarters, The Hartford’s trademark logo echoes the majestic stag depicted in Sir Edwin Landseer’s 1851 painting Monarch of the Glen. Soon, this logo will become more prevalent throughout the world—if the management’s plan works out.
“We’re an ROE-focused company. There’s a tools methodology approach mindset that we’ll be able to bring to the organisation.” - Christopher SwiftFocused on property/casualty insurance, group benefits and mutual funds in the US, The Hartford is now planning to go global through the acquisition of specialty insurance provider Navigators Group. The move will add new lines of business such as reinsurance, products and expertise, as well as an international footprint.
The Hartford has entered into a definitive agreement to acquire The Navigators Group in an all-cash transaction of approximately $2.1 billion.
Hartford, Navigators, Acquisition, M&A, Insurance, Specialty, Doug Elliot, Stanley Galanski, Christopher Swift, North America, UK, Europe, Global