The Hartford is expanding its Group Benefits capabilities withthe $1.45 billion acquisition of Aetna’s group life and disability sectors. Themove, expected to be finalized in November, will make it the secondlargest group life and disability insurer in theUnited States and improve The Hartford’s distributioncapabilities.

“The combination of these two businesses strengthens ourposition as a leader in the large employer market and increases ourpresence among midsize employer clients,” The Hartford’s chairmanand CEO Christopher Swift said in a press release. “It also createsnew opportunities to distribute additional products to a customerbase of more than 20 million people who will be insured by thecombined business.”

The Hartford will also acquire a majority of Aetna’sapproximately 1,800 Group Insurance employees as part of the deal,as well as its digital assets and integrated absence-managementplatform. In addition, the deal includes an exclusivecollaboration under which Aetna will offer The Hartford’s grouplife and disability products through Aetna’s sales team.

“Our transaction with The Hartford will benefit both ourshareholders and customers, allowing us to have a stronger focus onour strategy of creating a personalized approach to improvingmember health,” Aetna President Karen S. Lynch said.