Employees Relieved After Chubb Ends Pursuit of The Hartford
Insurance company giant Chubb Ltd. recently announced that it has dropped its pursuit of acquiring The Hartford Financial Services Group.
This decision has concluded two turbulent months of offers and rejections between the firms.
Over the last couple of months, the Chubb insurance company made three takeover offers to The Hartford Financial Services Group, each of which was turned down.
The end of the insurer’s acquisition attempts also means that the city of Hartford can feel notably more secure about the employment situation there.
‘The chapter with The Hartford is over,’ said Evan Greenberg, Chubb CEO in a conference call last week with Wall Street analysts. ‘We have moved along.’