Large Insurance Company Further Commits To Hartford

HARTFORD, CT — While commercial buildings continue to cope with post-pandemic occupancy challenges, one company is expanding its role in Hartford.

Gov. Ned Lamont Monday announced Global Atlantic Financial Group, an insurance company specializing in retirement and life insurance needs, is growing its operations in Hartford in an expansion plan that includes leasing an additional 11,500 square feet of office space to support approximately 100 new employees.

With this addition, Global Atlantic will now occupy the entire 10th and 24th floors of The Gold Building at One Financial Plaza in downtown Hartford.

This is the second time Global Atlantic has expanded its footprint in Connecticut’s capital city – the first was in 2019 after it moved into The Gold Building in 2018, according to Lamont's office.

The company will now have a total footprint of more than 46,000 square feet in the building with the ability to support more than 300 employees.

“Since moving to downtown Hartford four years ago, Global Atlantic has seen a significant growth in its business and its employment levels,” Lamont said.

In 2022, Global Atlantic grew its total employee base by 325 employees.

This includes the addition of 75 new employees in Hartford, which represents the greatest concentration of growth among its offices.

“The expansion of our presence in Hartford, one of the premier insurance markets in the United States, is a testament to Global Atlantic’s growth and position within the insurance industry,” Dan O’Shea, chief administrative officer for Global Atlantic, said.

“We are proud to continue expanding in a state with such a diverse talent pool and vibrant community and appreciate the support of the Connecticut Department of Economic and Community Development.”

The Connecticut Department of Economic and Community Development (DECD) is supporting the expansion by providing up to $695,640 in grants in arrears that are contingent on the company creating and retaining 100 full-time jobs over seven years.

“Global Atlantic is a valued member of our business community, and it is great to see them expanding their physical footprint and continuing to add jobs in our capital city,” Alexandra Daum, commissioner designate of DECD, and Peter Denious, CEO of the nonprofit economic development organization AdvanceCT, said in a joint statement.

For the full announcement by Lamont's office, click on this link.