The Hartford has entered into a definitive agreement to acquire Equitable’s Employee Benefits business, a transaction that will add approximately $500 million in premium and strengthen the insurer’s position in the small and midsize employer market.
The acquisition is expected to accelerate growth within The Hartford’s Employee Benefits division, particularly its Priority Business segment, which focuses on serving small and midsize companies. The transaction is expected to close during the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions.
Financial terms of the agreement were not disclosed.
Equitable’s Employee Benefits operation provides a range of non-medical workplace benefits designed primarily for small and midsize employers. Its portfolio includes group life insurance, disability coverage, paid family and medical leave products, supplemental health insurance, dental coverage and vision benefits.
The Hartford views the acquisition as an opportunity to expand its existing employee benefits capabilities while reaching more employers in a segment it has identified as a significant area for future growth.
Christopher Swift, chairman and CEO of The Hartford, said the deal will reinforce the company’s position in employee benefits and the small-business market. According to Swift, small and midsize employers represent an important growth opportunity, and acquiring Equitable’s business will improve The Hartford’s ability to respond to the changing benefits needs of those organizations.
Technology is also a significant component of the transaction.
As part of the acquisition, The Hartford will obtain Equitable’s Employee Benefits technology platform. The technology includes integrated digital capabilities and real-time API connections designed to improve how employees, employers and insurance brokers access and administer workplace benefits.
Mike Fish, head of Employee Benefits at The Hartford, said the integrated technology is expected to simplify benefits management for small and midsize business customers. The platform will complement The Hartford’s existing digital infrastructure while creating a more streamlined experience for employers and brokerage partners.
The transaction also includes a significant employee component. Approximately 300 employees who currently support Equitable’s Employee Benefits operation are expected to join The Hartford after the acquisition closes.
During the transition, Equitable and The Hartford plan to work together to support mutual customers and maintain continuity of service. The Hartford said it looks forward to bringing the Equitable employees into its organization and leveraging their experience to support employer customers and broker relationships.
The acquisition will not alter The Hartford’s previously announced capital management plans.
Several financial and legal advisors are involved in the transaction. Rothschild & Co is serving as financial advisor to The Hartford, with Sidley Austin LLP acting as its legal advisor. J.P. Morgan is serving as financial advisor to Equitable, while Debevoise & Plimpton LLP is providing legal counsel.
Once completed, the acquisition will bring Equitable’s employee benefits products, technology platform, customer relationships and approximately 300 employees into The Hartford. With roughly $500 million in additional premium, the deal is positioned to strengthen The Hartford’s competitive standing while expanding its capabilities among small and midsize employers.
Information for this article was provided by The Hartford. Views and claims expressed in this article are those of the source company and do not necessarily reflect the views of AgencyEquity.com. This article may have been edited with the help of AI.
