ET. Aetna's success was in large part due to innovations in forms of insurance. The company also divested itself of its American Re-Insurance subsidiary in September 1992, selling it to American Re Corporation for $1.31 billion and raising much needed cash. The $2.97 billion charge translated into a net loss of $2.65 billion. It turned out that Aetna had made this acquisition at a peak point and, therefore, had paid a premium price. Net income for 1991 was reported at only $505 million, the downturn aggravated by property claims resulting from Hurricane Bob. Continuing to shed noncore operations, Aetna sold its U.S. individual life insurance business to Lincoln National Corporation for $1 billion in cash in October 1998. Read more about the acquisition; ... Aetna Inc. For language services, please call the number on your member ID card and request an operator. The Registered Agent on file for this company is Nancy Descano / Aetna Financial Services and is located at C/O Corporation Service Company, 1013 Centre Rd, Wilmington, DE 19805. In 1929 only 11.7 percent of Aetna's assets were in common stock, and almost half of that in the stock of Aetna affiliates, another condition that helped Aetna survive during the 1930s. Because of the drop in membership, Aetna was no longer the nation's largest managed-care insurer, but it appeared to be a stronger company. For a few years, this new company issued all the new forms of insurance Aetna offered, but soon further diversification was necessary. Travelers Group agreed to a merger with the Aetna division in November, paying Aetna $4.1 billion for a 72 percent interest in the company and making the newly formed Travelers/Aetna Property Casualty Corp. one of the fifth largest carriers of such insurance in the nation. The EAP is administered by Aetna Behavioral Health, LLC, Aetna Health of California, Inc. and Aetna Health and Human Resources Company, Inc. Against this long awaited rise in net income, the company announced that it intended to sell its property-casualty subsidiary, which had contributed mounting losses to the corporate balance sheet over the past several decades through its policies for individuals and businesses. The company's filing status is listed as Expired and its File Number is 623676. Vice-President Henry Beers succeeded him as Aetna's fifth president. Hartford, CT 06156, 151 FARMINGTON AVENUE-YFF1 The Registered Agent on file for this company is Nd Secretary Of State (N.D.C.C. To facilitate flexible management of these expanding operations and allow diversification into non-insurance fields, Aetna Life & Casualty Company, a holding company, was created in 1967 with subsidiaries Aetna Life Insurance Company, Aetna Casualty and Surety, Standard Fire Insurance, and the Automobile Insurance Company. Place: Department of Financial Services, One … The suit, whose class included nearly all U.S. physicians, had listed a number of complaints, including unfair billing practices and interference with treatment recommendations. Aetna's existing health insurance operations were merged into U.S. Healthcare, which became an Aetna subsidiary and was renamed Aetna U.S. Healthcare Inc. A change of leadership in mid-1997 saw former banking executive Richard L. Huber named president and CEO, continuing the efforts to streamline Aetna and focus the company's manpower on what it had proven it does best. William H. Donaldson, cofounder of the investment banking firm Donaldson, Lufkin & Jenrette, Inc., was named chairman and CEO. Out of 60 sectors in the Mergr database, insurance ranked 19 in number of deals in 2000.The largest insurance acquisition in 2000 was Aetna Financial Services - which was acquired by ING Groep N.V. for $7.7B.. Join Mergr to view all 38 acquisitions of insurance companies in 2000, including 2 acquisitions by private equity firms, and 36 by strategics. Eager to profit from the rapidly growing market for automobile insurance, in 1907 Aetna management transformed the liability department into Aetna Life's first affiliate, the Aetna Accident and Liability Company. Aetna also introduced new health plans, such as Aetna HealthFund (launched in 2001), that gave plan members more direct control over their healthcare decisions. Not all health and/or life services are covered. Phone number. He was active in the state Republican Party his father had helped to form. The content within this section is for educational purposes only and should not be construed as investment advice. NOTICE OF PUBLIC HEARING. By February 2000 Aetna's stock had fallen to $39, having lost two-thirds of its value since August 1997. HARTFORD, CT 06156, 151 Farmington Avenue The complicated transaction was completed in December 2000. The company also began to curtail its expansion of personal property and casualty insurance markets in several states, and cut back personal mortgage insurance early in the decade. § 10-01.1-13) and is located at 600 E Boulevard Ave Dept 108, Bismarck, ND 58505-0500. What remained of Aetna--the company's international and financial services units--was acquired by ING for about $7.75 billion. Aetna, Inc. pays its employees an average of $72,476 a year. Company Number assigned to this company Find out more about Aetna's products and services here, and see the story of Aetna's role in transforming health care. He was also active in the formation of the Republican Party in Connecticut, starting a long tradition of political activism by Aetna leaders. is the brand name used for products and services offered through the Aetna group of subsidiary companies. Finally, we can read about how these great companies came about with Company Histories.. Aetna U.S. Healthcare was then renamed Aetna Inc. (meaning that the "new" Aetna would trace its incorporation back to that of United States Health Care Systems, Inc. in 1982). Originally, Bulkeley had resisted the mutual plan that placed ownership in the hands of policyholders. Huber oversaw several deals in the late 1990s that further bolstered Aetna's position as a major health insurer. The company explored the possibilities of insurance coverage for air travel, became involved in several large bonding issues, and became a pioneer in the area of driver's education. 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