The Hartford Financial Services Group, the US-based insurer which is retrenching some of its activities while some investors call for a breakup to the business, has offered up to $2 million in a retention bonus to David Levenson, president of wealth management, media reports say.

Levenson must remain “actively em-ployed by the company in the performance of his duties on certain specified payment dates through Feb. 28, 2013”, the firm reportedly said last week in a regulatory filing. Levenson joined the firm in 1995 from Fidelity Investments.

As announced on March 21, the company is seeking buyers for businesses that sell individual life insurance policies and 401(k) retirement accounts. It also will halt sales of variable annuities, the equity-based savings products that contributed to losses during the market slump of 2008 and early 2009.

Legendary hedge fund manager John Paulson, who controls the biggest stake in The Hartford, wants to split its life insurance and retirement businesses from its property-casualty unit.

The firm reports first-quarter results on May 2.