Asset Management Firm Worth 200 Trillion Won Exits.. U.S. Insurer Transfers Fund Business to Wellington

HARTFORD INSURANCE GROUP, INC. (NYSE: HIG) on June 3, 2026 agreed with Wellington Management to sell Hartford Funds, which manages approximately $160 billion in assets. The transaction’s net present value is estimated at about $1.9 billion (roughly KRW 2.6 trillion). Upon closing, Hartford will receive $300 million (about KRW 400 billion) in cash, and over the following seven years will receive additional consideration based on after-tax cash flows generated by the combined U.S. wealth business. After completion, Hartford Funds will be integrated into Wellington’s U.S. Wealth division under the Wellington brand, subject to regulatory and fund approvals, with a targeted close in the first quarter of 2027.

Hartford Insurance Group, a publicly traded S&P 500 company listed on the New York Stock Exchange, operates property and casualty insurance, group benefits and mutual fund businesses. Hartford Funds currently names Wellington as a primary sub-advisor on multiple funds. Wellington, an independent U.S. asset manager with over $1.3 trillion in assets under management, has been expanding its asset management business by launching interval funds and broadening its private investment platform to serve the U.S. retail and wealth markets.

Founded in 1810, Hartford is a leading U.S. property and casualty insurer and investment company, offering auto, property and workers’ compensation insurance, group benefits, mutual funds and ETFs. In the U.S. insurance and asset management sectors, traditional insurers are divesting asset management subsidiaries and partnering with large managers to improve capital efficiency and concentrate on core insurance operations and capital management.