Hartford Financial President to "Retire"

Hartford Financial Services Group Inc. President and Chief Operating Officer Thomas Marra will retire in July as part of a "mutually agreed separation," becoming the second high-level executive to leave the company since the financial crisis hit the insurance industry last autumn...

In early October, Hartford announced the appointment of a new chief investment officer on the same day that the company announced a $2.5 billion capital infusion from German insurer Allianz SE to shore up its balance sheet... That executive change came roughly three weeks before the company posted a $2.6 billion third-quarter loss that showed some of the steepest investment-portfolio losses of the major life insurers. The company followed that up with a $806 million loss in the fourth quarter on more investment woes.

Hartford said Wednesday in a filing with the Securities and Exchange Commission that Mr. Marra, a 29-year veteran of the company who assumed the roles in June 2007, will retire effective July 3 and leave the company's board immediately...

WSJ: Hartford Financial President to "Retire"