Hartford Insurance (HIG) agreed to acquire Equitable's Employee Benefits business, adding about $500 million in premium, the company said Tuesday.

Financial terms of the deal were not disclosed.

The transaction, expected to close in Q4, includes Equitable's employee benefits technology platform, and about 300 employees who support the business are expected to join The Hartford upon closing.

Hartford shares were down nearly 1% in Tuesday trading.

Price: 141.66, Change: -1.24, Percent Change: -0.87