NU Online News Service, June 4, 9:35 a.m. EDT

The Hartford Financial Services Group's chairman and chief executive officer, Ramani Ayer, will retire from the loss-riddled insurer at year's end, his company announced today.

His firm--which qualified last month for $3.4 billion in U.S. bailout cash from the federal government's Troubled Asset Relief Program--said they will begin an immediate, external search to replace the 62-year-old Mr. Ayer, who has been with the company since he graduated college.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.