I stand by the points that Mr Purle has repeated, since these are the facts. The Hartford in the UK enjoyed solid success and a growing client base from its launch in 2005 to the end of April 2009 resulting in 18,000 clients with some £1.2bn of assets with us.
These clients will continue to get the benefits and level of service they were promised and The Hartford’s primary commitment is to honour its existing commitment to clients. The decision to cease sales in the UK market was not taken lightly and is part of the company’s overall effort to preserve capital and reduce risk.
Our role in the market was to provide clients with additional choices to help steer them through retirement. As for the commission Mr Purle refers to, our pension product was priced without commission and it was up to the IFA to decide how much they should be paid for their advice.
Hartford Life Limited