Hartford Financial Services Group Inc. confirmed on Thursday that it had received an unsolicited offer from rival Chubb Ltd.
"Hartford's Board of Directors is carefully considering the proposal with the help of its financial and legal advisors. of Bloomberg, would reportedly value Hartford at about $ 22 billion .. The approach is said to be preliminary and can not lead to a transaction. "reasonable."
"Chubb has long said it wants a larger share of the domestic small commercial insurance market, and it is one of (Hartford's) best, probably the single best, operating unit," he said. . Other Hartford companies also fit in well with Chubb, such as the mid-market and specialty markets, and possibly group benefits, he added. . Chubb traded at more than 3%.
Chubb did not respond to a request for comment on Thursday.