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September 28, 2023

Talcott Financial opens downtown Hartford HQ; commits to creating 51 new jobs

Greg Bordonaro | Hartford Business Journal Imran Siddiqui, president of Talcott Financial Group, speaks during a ribbon-cutting ceremony for Talcott Financial Group's new headquarters in downtown Hartford's Boat Building.
Greg Bordonaro | Hartford Business Journal Connecticut Insurance Department Commissioner Andrew N. Mais speaks during a ribbon-cutting ceremony for Talcott Financial Group's new headquarters in downtown Hartford's Boat Building.
By Andrew Larson

International life insurer Talcott Financial Group on Thursday held a ribbon-cutting ceremony for its new downtown Hartford headquarters in the Boat Building, at One American Row.

At the same time, Talcott announced that it will receive $1.1 million in tax rebates through the state Department of Economic and Community Development’s JobsCT program, contingent upon it retaining 389 jobs and creating 51 new full-time jobs over the next seven years.

Talcott said in January that it planned to relocate from Windsor to the 13-story Boat Building, an elliptic lenticular cylinder that exemplifies Modernist architectural style. When it was completed in 1963, it was considered the first two-sided office building in the world.

The Boat Building is also home to insurer Nassau Financial.

HBJ Photo | Joe Cooper
Hartford's Boat Building at 1 American Row.

Talcott occupies about 52,000 square feet across four floors. The light-filled, modern offices include collaboration and huddle spaces, kitchen cafés on every floor and a 30-seat boardroom. 

Gov. Ned Lamont congratulated Talcott on its new headquarters and applauded its plan to add jobs.

“Connecticut continues to be an emerging hub for the insurance industry because of our best-in-the-nation workforce and ideal location, and Talcott’s decision to invest and grow here confirms that,” Lamont said.

Talcott focuses on insuring the annuity and life insurance marketplace and has more than $130 billion in assets under management. The company has other offices in New York and Bermuda, and is an affiliate of global investment firm Sixth Street.

Recently, several insurance and finance companies have moved to downtown Hartford, or added to their center-city presence. 

Sun Life moved to the Gold Building at One Financial Plaza in November 2022. The company reduced its office footprint from about 101,000 square feet in Windsor to 47,000 square feet in the Gold Building, saying it no longer needed as much space due to flexible workplace arrangements that allow employees to work remotely.

Meanwhile, Global Atlantic Financial Group, a provider of fixed-rate and fixed-annuities, expanded its presence in the Gold Building to support 100 new employees in January. 

In addition to Lamont, Talcott’s ribbon-cutting ceremony Thursday featured remarks by Hartford Mayor Luke Bronin and Connecticut Insurance Department Commissioner Andrew N. Mais.

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