The Hartford on Thursday confirmed it has received -- and rejected -- two additional offers from global insurer Chubb Limited, based in Switzerland.
“The Hartford’s board of directors, after consultation with its financial and legal advisors, unanimously rejected both proposals, determining that entering into discussions regarding a strategic transaction would not be in the best interests of the company and its shareholders,” The Hartford said. “The board also unanimously reaffirmed its conviction and confidence in The Hartford’s strategic business plan.”
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Christopher Swift
Citing its “impressive outlook” and “strong capital position,” the company also announced Thursday that it would increase and accelerate its share buyback program to $2.5 billion over 2021 and 2022.