Hartford Financial Group

Hartford Financial Group

 

a group in the USA that controls monopoly capital. The Hartford financial group is a coalition of oligarchic families of the city of Hartford and its environs. Formed after World War II, the group includes local insurance companies and banks. As of the mid–1970’s it controlled assets of approximately $20 billion, of which approximately $19 billion were in banks and insurance companies and approximately $1 billion was in industrial, transportation, and commercial firms.

The financial nucleus of the group is made up of Hartford National Bank and Trust, Connecticut Bank and Trust, and three life insurance companies: Aetna Life Insurance, Travelers Life Insurance, and Connecticut Mutual Life Insurance. The total assets of these companies exceed $18 billion. The Hartford financial group concentrates large sums of loan capital and acts as a supplier of capital to monopolistic groups in other areas of the country and to several regions of the USA.

In its capital investments, the group works closely with financial groups in New York. It is tied to the major New York banks—Chase Manhattan Bank, Morgan Stanley Company, and Citibank—through personal link-ups and the holding system (seePERSONAL LINK-UP). When extending loans and credit to other monopolistic groups, the Hartford group’s finance institutions generally act in concert with the banks and insurance companies of the Rockefellers and Morgans.

The Hartford financial group primarily operates in the domestic market, especially in New York State; it has few foreign operations.

REFERENCES

Men’shikov, S. M. Millionery i menedzhery. Moscow, 1965. Pages 223–25,440.
Beglov, I. I. SShA: Sobstvennost’ i vlast’. Moscow, 1971. Page 259.
Zhukov, E. F. Strakhovye monopolii v ekonomike SShA. Moscow, 1971. Pages 143, 145.

E. F. ZHUKOV

References in periodicals archive ?
About 1,800 Aetna employees would become employees of Hartford Financial, and Aetna's medical insurance sales team would offer Hartford Financial group life and disability plans.
Hartford Financial Group (NYSE:HIG) and Lincoln National Corp.
He is employed by Hartford Financial Group as a training director, and enjoys visiting area Toastmaster clubs.
He has also served as vice president, retirement plan services for Hartford Financial Group, and as senior vice president, client services and operations for Prudential.
Paul Meskiewicz, Managing Director, Institutional Investment Products, Hartford Financial Group
CINCINNATI -- Among the stocks featured in the April 28 edition of Schaeffer's S&P 500 Index Hot Stocks are Snap-On (NYSE:SNA), Coventry Health (NYSE:CVH), Hartford Financial Group (NYSE:HIG), Microsoft (NASDAQ:MSFT), and Aetna (NYSE:AET).
American International Group (NYSE: AIG) and the Hartford Financial Group (HIG) have also been named in the suit by Spitzer.
AFLAC, AG Edwards, AIG, Allstate, American Century Investments, American Express, American Fidelity Assurance, American Multi-Line Insurance, Anthem, AutoDesk, Bank of America, BB&T, Capital One, CIBC, Cigna, Citigroup, Credit Suisse First Boston, DDI, Deploy, Deutsche Bank, Dreyfus, Educational Community Credit Union, Edward Jones, Ernst & Young, Fannie Mae, Fidelity, First Federal Savings and Loan, First National, First Tennessee, FleetBoston (part of Bank of America), Freddie Mac, Frost National Bank, GE Capital, Goldman Sachs, Guardian Life Insurance, The Hartford Financial Group, Hewlett-Packard, Hibernia National Bank, Hire.
In Q4 2003 alone, Systinet signed 30 new customers, including N2 Broadband, British Telecom, GlaxoSmithKline, The Hartford Financial Group, Mizuho Capital and CoreMedia, adding to its already strong roster of 2003 customer wins that included Amazon, Kodak, BMC Software and Northrop Grumman.
OTCBB:FFNT) announced today the procurement of additional funding through a new financial source, Hartford Financial Group, Inc.
The capital infusion from Hartford Financial Group will be used to generate revenue by implementing the commercialization phase of Forefront Technologies, Inc.
Full browser ?