Hartford Confirms Chubb Takeover Proposal, Board Reviewing Deal

Hartford Financial Services Group Inc. said Chubb Ltd., the mammoth property-casualty insurer run by Evan Greenberg, made an unsolicited proposal to acquire the company.

Hartford’s statement, released Thursday, confirms an earlier Bloomberg report about the approach. Hartford said its board is reviewing the deal with financial and legal advisers and didn’t disclose any terms of the proposal.

Evan Greenberg

Photographer: Drew Angerer/Getty Images

A takeover of the Hartford, which is valued at more than $23 billion, would rank as one of Greenberg’s largest deals since the almost $30 billion tie-up of Ace Ltd., the firm he previously used to run, with the company then ...