In its second-quarter earnings which were released earlier on Thursday, Hartford said Talcott Resolution's net income was $105 million in the second quarter, almost flat to the corresponding three months of 2016, as declining core earnings were offset by lower costs.
Reflecting the runoff nature of the unit, individual variable annuity and fixed annuity contract as of June 30 had declined 10 percent and 6 percent respectively on the same point of last year. No further details were given.
Should the agreement be secured to sell Talcott Resolution to Atlas, it would be the latest in a string of such deals.
Last month, Dutch insurance firm Aegon NV completed the sale of the majority of its U.S. runoff business, worth $14 billion and comprising of annuity and life insurance products, to Wilton Re.
This article was provided by Reuters.