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Press Releases - May 26, 2016

 Contact: Donna Tommelleo, 860-297-3958
 
Connecticut Insurance Department Statement On Aetna Form E Filing
 
 

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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About the Connecticut Insurance Department: The mission of the Connecticut Insurance Department is to protect consumers through regulation of the industry, outreach, education and advocacy. The Department recovers an average of $4 million yearly on behalf of consumers and regulates the industry by ensuring carriers adhere to state insurance laws and regulations and are financially solvent to pay claims. The Department’s annual budget is funded through assessments from the insurance industry. Each year, the Department returns an average of $100 million a year to the state General Fund in license fees, premium taxes, fines and other revenue sources to support various state programs, including childhood immunization.
 
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