Aetna, Inc. is an American health insurance company, providing a range of traditional and consumer directed health care insurance products and related services, including medical, pharmaceutical, dental, behavioral health, group life, long-term care, and disability plans, and medical management capabilities. Aetna is a member of the Fortune 100. In 2005, the company had $1.1 billion in earnings. Aetna's 2007 revenue, reported in 2008, was $27.6 billion. Aetna's 2008 revenue, reported in 2009, was $31 billion. Aetna is the direct descendant of Aetna (Fire) Insurance Company, of Hartford, Connecticut. The name was meant to invoke Mount Etna, at the time Europe's most active volcano.
Distribution Strategy
ING have reached an agreement with Aetna Inc. to acquire Aetna Financial Services and Aetna International. Aetna Healthcare and Aetna's large case pensions businesses are not part of this transaction. The total value of the transaction is USD 7.7 billion. This figure includes USD 2.7 billion of outstanding debt that will be assumed by ING. The transaction is expected to close by December 2000, subject to regulatory and Aetna shareholder approvals.
The acquisition of Aetna Financial Services and of ReliaStar (as announced 1 May) strongly complement ING's US insurance operations. Together, the three comprise a superior product and distribution platform (see annex 1).
Aetna Financial Services rounds out ING's asset accumulation and employee benefits business in the US with its undisputed strengths in defined contribution retirement plans, annuities and asset management.
With combined US premium income of USD 20.2 billion and US assets under management of USD 176 billion (pro forma 1999, annex 2), ING secures a substantial as well as sustainable presence in the world's largest wealth accumulation market.
ING's worldwide ranking among asset managers moves up from 19th to 11th position.
By acquiring Aetna International with premium income of USD 4.4 billion in 1999, ING substantially increases its scale in Asia/Pacific and Latin America.
ING's client base increases from over 30 million to 50 million clients worldwide.
Total value of the transaction is USD 7.7 billion which includes USD 2.7 billion outstanding debt that ING will assume. The purchase price of USD 5.0 billion will be paid in cash and will mainly be financed internally.
The expected positive contribution to net profit per share ING Group is EUR 0.18 in 2001, increasing to approximately EUR 0.70 in 2005, including a pre-tax synergy of USD 200 million in 2005.
Distribution Strategy
ING have reached an agreement with Aetna Inc. to acquire Aetna Financial Services and Aetna International. Aetna Healthcare and Aetna's large case pensions businesses are not part of this transaction. The total value of the transaction is USD 7.7 billion. This figure includes USD 2.7 billion of outstanding debt that will be assumed by ING. The transaction is expected to close by December 2000, subject to regulatory and Aetna shareholder approvals.
The acquisition of Aetna Financial Services and of ReliaStar (as announced 1 May) strongly complement ING's US insurance operations. Together, the three comprise a superior product and distribution platform (see annex 1).
Aetna Financial Services rounds out ING's asset accumulation and employee benefits business in the US with its undisputed strengths in defined contribution retirement plans, annuities and asset management.
With combined US premium income of USD 20.2 billion and US assets under management of USD 176 billion (pro forma 1999, annex 2), ING secures a substantial as well as sustainable presence in the world's largest wealth accumulation market.
ING's worldwide ranking among asset managers moves up from 19th to 11th position.
By acquiring Aetna International with premium income of USD 4.4 billion in 1999, ING substantially increases its scale in Asia/Pacific and Latin America.
ING's client base increases from over 30 million to 50 million clients worldwide.
Total value of the transaction is USD 7.7 billion which includes USD 2.7 billion outstanding debt that ING will assume. The purchase price of USD 5.0 billion will be paid in cash and will mainly be financed internally.
The expected positive contribution to net profit per share ING Group is EUR 0.18 in 2001, increasing to approximately EUR 0.70 in 2005, including a pre-tax synergy of USD 200 million in 2005.
Last edited: