Talcott Resolution Announces Job Cuts Impacting 101 Positions in Insurance Sector
Talcott Resolution Life Inc. has announced job cuts affecting 101 positions by April's end, reflecting a broader trend within the U.S. life and annuity insurance sector. Despite stable hiring levels across the industry, the company's recent Worker Adjustment and Retraining Notification to the Connecticut Department of Labor outlines these permanent losses to take effect on April 24. The layoffs include roles both in Hartford and remote locations.
Impacted employees, informed since July 2025, are being offered severance packages alongside career transition support. The reductions mainly target operations and information technology departments, affecting 25 senior service specialist positions and 19 service consultant roles. Notably, Talcott Resolution clarified that traditional bumping rights won't be applicable in these downsizing measures.
Talcott Resolution, originating from The Hartford Financial Services Group's life and annuity segment, was spun off in 2018 and acquired by Sixth Street in 2021. The company manages around one million contracts with assets totaling $126 billion and has been leveraging block reinsurance transactions. A key transaction included a $10 billion agreement with MetLife, finalizing a total reinsured reserve of $14 billion for 2025.
The layoffs occur amid shifting labor conditions within the U.S. insurance industry. Recent Bureau of Labor Statistics data indicates a December 2025 decrease of 1,800 insurance jobs from the previous month, losing 1,700 direct life and health insurance roles and 1,500 in property and casualty insurance. This contrasts with intentions shown in The Jacobson Group and Aon's third quarter 2025 Insurance Labor Market Study where 86% of insurance firms plan staffing stability or growth over the next year.
Additional insights from Jacobson Group's October 2025 data reveal a year-over-year increase in employment for agents and brokers by 2% and property and casualty insurers by 1.8%. However, there's been a 2.2% decrease in life and health insurance jobs and an 11.5% drop in claims roles. This aligns with Talcott's strategic focus on roles in underwriting and technology, while operational roles face reductions.
Talcott Resolution regards these layoffs as a necessary step to boost long-term operational efficiency and to concentrate resources on key growth sectors within their business. The company emphasizes its commitment to treating affected employees with fairness and respect during these organizational changes.