Hartford completes Equitable employee benefits acquisition

The Hartford has completed its acquisition of Equitable Holdings' employee benefits business, adding approximately $500 million in premium and roughly 300 employees. The acquired portfolio serves small and midsize employers and includes life, disability, supplemental health, dental and vision coverage, alongside paid family and medical leave. The business includes a technology platform with real-time API integrations that simplify enrollment and administration for brokers, employers and employees. The Hartford called the technology a material acquisition rationale. Equitable's CFO said the unit served more than 800,000 customers but had not become profitable because it lacked sufficient scale. The closing price was not disclosed.