XML 69 R23.htm IDEA: XBRL DOCUMENT v3.8.0.1
Subsequent Event Subsequent Event (Notes)
9 Months Ended
Sep. 30, 2017
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
On October 23, 2017, the Company announced that Hartford Life and Accident Insurance Company (HLA), a wholly owned subsidiary of the Company, entered into a definitive agreement to purchase the U.S. group life and disability insurance business of Aetna, Inc. (“Aetna”) through a reinsurance transaction. HLA will pay cash consideration of $1.45 billion, primarily in the form of a ceding commission to an Aetna subsidiary that is ceding the business to HLA. Under the reinsurance agreement, the Company will receive invested assets with a fair value of approximately$3.4 billion and will assume fair value reserves of approximately$3.3 billion after taking into account estimated purchase accounting adjustments. The transaction is expected to close in the fourth quarter of 2017, subject to customary closing conditions.