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Insurer Hartford to transfer pension liabilities to Prudential

June 26 (Reuters) - Insurer Hartford Financial Services Group Inc said on Monday it would transfer $1.6 billion, or 29 percent, of its pension liabilities to Prudential Financial Inc.

The company will transfer pension benefits of about 16,000 former employees.

Hartford said it expects to recognize an after-tax pension settlement charge of about $485 million in the second quarter. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Sriraj Kalluvila)