Press Releases - May 26, 2016
On October 19, 2015 the Connecticut Insurance Department (“the Department”) received a Form E application (“the Form E”), submitted by Aetna Inc.
The Form E was required to be filed by Aetna Inc., in order for the Department to evaluate the competitive impact in Connecticut regarding the proposed merger between Aetna Inc. and Humana Inc.
On January 22, 2016 the Department made the determination that the proposed acquisition would not substantially lessen competition or create a monopoly in Connecticut as Humana has a small market footprint in this state. As part of the Department’s analysis process, an economist was hired in order to provide an independent evaluation.
Because the State of Connecticut does not have a domestic Humana Insurer, a Form A, change of control application, was not required to be filed and therefore a public hearing was not required.
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