The Hartford Financial Services, the insurance and wealth management firm, has re-entered the structured settlement annuity market with the launch of a scheme that offers tax-free payouts to work-related settlement claims. 

The Structured Settlement Fixed Annuity is designed to give periodic payments to the claimant. Included in the new offering are medical underwriting services for structured settlements, which aim to increase periodic payments for accident-related injuries that reduce life expectancies. 

"The structured settlement market is a growth opportunity for us and represents the next step in our re-emergence in annuities," said Rob Arena, head of annuities for the wealth management division. 

The Hartford has $7.6 billion in assets under management related to structured settlement annuities and $91.3 billion in total annuity AuM as of 30 June 2011.