Lesser Releases Statement Following Announcement From Chubb

Press release from CGA:

April 29, 2021

State Senator Matt Lesser (D-Middletown), Co-Chair of the Insurance & Real Estate Committee, is releasing a statement after the insurance giant Chubb said it will no longer pursue an acquisition of The Hartford Financial Services Group.

"The Hartford is a true Connecticut success story and I wish the company and its employees well," said Sen. Lesser. "For over 200 years, it has been a major part of our economy. From the outset I had concerns about whether this specific proposal was in the public interest. I will continue to perform my duty to perform oversight over the Connecticut Insurance Department and the industry it regulates."

The Hartford was given an unexpected offer in March from Chubb which valued the 211-year-old company at approximately $23 billion. The Hartford’s board of directors declined the offer.

This press release was produced by CGA. The views expressed here are the author's own.