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Chubb Ltd., one of the nation’s biggest, oldest and best-known property-casualty insurers, has made a preliminary proposal to acquire Hartford Financial Services Group Inc., another storied name in the industry.
The Connecticut-based Hartford
said in a release Thursday afternoon that it “has received an unsolicited, non-binding proposal from Chubb” to acquire the 211-year-old company. Hartford said its board of directors “is carefully considering the proposal with the assistance of its financial and legal advisors.”