Last event in this company was registered on Wednesday 13th November 2002 - is … is the brand name used for products and services offered through the Aetna group of subsidiary companies. ), c. 33, with its head office in the City of Montreal and offices in Toronto. The $2.97 billion charge translated into a net loss of $2.65 billion. Hill took over as president. A noted gerontologist, Rowe had most recently served as head of Mount Sinai NYU Health, a group of nonprofit New York City hospitals. 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. Earnings declined by 23 percent from the previous year, a downturn reflecting increased competition in the commercial property-casualty business, rising loss costs in auto and homeowners insurance lines, and losses in its highly competitive multinational corporations operations. The Registered Agent on file for this company is Nd Secretary Of State (N.D.C.C. Another key appointment was that of Ronald A. Williams, who was named executive vice-president and chief of health operations in March 2001. The American Medical Association was also against the deal, arguing that it would give Aetna too much power over physicians and be bad for consumers as well. learn how over 7,000 companies got started! The company's filing status is listed as Name Change (Reserved For Old Records). Aetna Financial Services, Inc. is a North Dakota Foreign Corporation - Business filed on March 16, 1970. Year-end 1994 saw net income rise to $467.5 million. Ltd (CRN 201200834H) 80 Robinson Road #23-02/03 Singapore 068898. Later that same year Aetna purchased the Participating Annuity Life Insurance Company, becoming the first major insurance firm to enter the variable annuity market. JACKSONVILLE, FL 32203, ONE FINANCIAL PLAZA . Enders resigned in 1879. 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. AETNA LIFE & CASUALTY CO./151 FARMINGTON Company mailing address is ING AMERICAS, %PAUL HOWELL 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. The personal/financial/security division provided automobile and homeowner insurance, life and health insurance, and retirement funding and annuity products to individuals, small businesses, and employer-sponsored groups. HARTFORD, CT 06156, 151 FARMINGTON AVE. This policy once again proved profitable for Aetna: earnings more than doubled from 1984 to 1985, with record increases in 1986 and 1987. Unlike his uncle, Brainard was a company man. Bulkeley guided Aetna through its difficult first years, when new insurance laws in some states required capital deposits beyond the stockholders' resources, hindering Aetna from doing business in those states. The Registered Agent on file for this company is Secretary Of State and is located at 2 South Salisbury Street, Raleigh, NC 27601. 151 FARMINGTON AVE., TN41, HARTFORD, CT 06156 ET. Enter username and password to access your secure Voya Financial account for retirement, insurance and investments. The company started out in the mid-19th century as a life insurer and then slowly evolved into a multiline insurer. The appellant Aetna Financial Services Limited (for convenience hereinafter called "Aetna") is a company incorporated under the Canada Business Corporations Act, 1974‑75‑76 (Can. Back to the Insurance Basics in the 1980s. 1-800-US-AETNA (1-800-872-3862) between 8:00am and 6:00pm ET. The 1870s was a period of nationwide economic crisis, and Enders was hard-pressed to keep the firm alive, despite its earlier successes. In 1996, under Compton and newly appointed Chairman of Strategy and Finance Richard L. Huber, Aetna began to shed both its corporate malaise and its tradition-bound methods of operation. The international insurance division handled insurance and investment products in non-U.S. markets. Meanwhile, the Aetna Accident and Liability Company was expanding its business in fidelity and surety bonds, and in 1917 changed its name to the Aetna Casualty and Surety Company. During this period the company regained its financial footing in part by hiring its first midwestern agent, a Connecticut man, who opened an office in Wisconsin to serve the burgeoning market in those states. Salaries at Aetna, Inc. range from an average of $48,953 to $117,868 a year. Partly because of this revision of the ownership structure, in just five years, from 1861 to 1866, Aetna jumped from 15th among 40 life insurance companies nationwide to fifth among 80. The first years of Bulkeley's presidency were spent getting the ailing company back on its feet, but in the 1890s Aetna made its first move to diversify, initiating a period of rapid expansion. Until then, Aetna and most other insurance companies had accepted interest-bearing notes as half payment for premiums. Aetna was founded in Connecticut in 1853 as the Aetna Life Insurance Company. Last event in this company was registered on Wednesday 13th November 2002 - is eighteen years, one month and fifteen days ago. Aetna did very well under Morgan Bulkeley. To repair the company's finances, Rowe cut about 15,000 jobs and raised insurance premiums by about 16 percent per year to keep ahead of medical inflation. Aetna, Inc. pays its employees an average of $72,476 a year. Many canceled their policies, and new policyholders were not forthcoming. HARTFORD, CT 06156, 151 FARMINGTON AVE., REAB Aetna Financial Services was founded in 1998. He was active in the state Republican Party his father had helped to form. Aetna Financial Services specializes in Insurance Information And Consulting Services. It began providing clearer information on coverage to both doctors and patients, speeded up payments, and reduced red tape. Then in August 1999 Aetna completed its third major acquisition in as many years, spending about $1 billion for the money-losing healthcare business of the Prudential Insurance Company of America. Principal Competitors: Anthem, Inc.; UnitedHealth Group Incorporated; Blue Cross and Blue Shield Association; Kaiser Foundation Health Plan, Inc.; CIGNA Corporation; Humana Inc.; PacifiCare Health Systems, Inc.; Health Net, Inc. We have no data about company previous names. In 1968 Aetna was first listed on the New York Stock Exchange. Net income for 1991 was reported at only $505 million, the downturn aggravated by property claims resulting from Hurricane Bob. 5780 POWERS FERRY RD., N.W. FT LAUDERDALE, FL 33394, SMITH KIRKPATRICK, ENGLISH DEPT. By 1990 Aetna Life & Casualty had spent more than $400 million to establish its own HMO, a profitable venture that helped buoy net income for that year to $614 million, against a slight drop in overall earnings. Aetna International is part of Aetna, one of the world's largest providers of health care, dental, pharmacy, group life and disability insurance, along with employee benefits. A further sign that Aetna was serious in its efforts to reposition itself by narrowing its focus to health and life insurance and financial services came in November 1991, when the company announced that Aetna President Ronald E. Compton would be appointed chairman upon the retirement of James T. Lynn in early 1992. Such expansion, however, did not come without costs. Phone number. ; Multiple delivery options - Receive remittance advices in the way you prefer-including 835, EPRA or PPRA. As a result, during the worst years of the Depression, Aetna's income dropped by only a little more than 10 percent. In 1976 William O. Bailey succeeded Johnson. In 1962 Beers became chairman and J.A. Aetna Financial Services, Inc. is a West Virginia Foreign C | Corporation filed on June 16, 1970. 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). By February 2000 Aetna's stock had fallen to $39, having lost two-thirds of its value since August 1997. Pressure from the public and from competing insurance companies helped change Bulkeley's mind. In 1981 the company reorganized its operations into five insurance divisions. When Morgan Bulkeley died in 1922, Morgan Bulkeley Brainard, grandson of Eliphalet Bulkeley, succeeded his uncle as president. Company Number assigned to this company is 833532. 1 in Managed Care,", Smart, Tim, and Richard A. Melcher, "The Floodwaters Rise Around Aetna,", Steinmetz, Greg, "Aetna Revamps, Taking a Charge of $1.28 Billion,", Treaster, Joseph B., "Aetna Agreement with Doctors Envisions Altered Managed Care,", Winslow, Ron, "Aetna to Acquire Prudential Health Unit,", Winslow, Ron, and Leslie Scism, "Aetna Agrees to Acquire U.S. Healthcare,", Winslow, Ron, Leslie Scism, and Elyse Tanouye, "Aetna Hopes for Breath of New Life from Acquisition,", Wojcik, Joanne, "Aetna's Shift to Health Focus Brings Struggles,". You can find this business by geo coordinates: 41° 46' 1.7" N , 72° 41' 28.5" W. New Challenges from Changing Economy in the Early 1990s. Services are confidential and are available 24 hours a day, 7 days a week. Its total assets increased from $25.6 million in 1879 to $207 million in 1922, while premium income increased more than 20-fold during the same period. Brainard rapidly retrenched. is 833532. Despite the layoffs, the efforts to shrink the company's unprofitable pension business, and the implementation of other cost-containment measures, industry analysts were skeptical that the sprawling insurance giant could stem continued losses. While pulling out of the auto insurance market, the company was investing heavily in the growing field of managed healthcare insurance. SUITE 2604 LANDMARK BANK BUILDING Aetna is the brand name used for products and services provided by one or more of the Aetna group of companies, including Aetna Life Insurance Company and its affiliates (Aetna). The new approach worked. Vice-President Henry Beers succeeded him as Aetna's fifth president. Aetna Financial Services, Inc. is a North Carolina Business Corporation filed on March 6, 1970. Efforts to enter the Mexican market after the passage of NAFTA were among the company's attempts to forestall further decreases in net earnings in 1994 and 1995. Through these years of fairly rapid changes in management, the position of chairman and chief executive officer gained ascendancy over that of president and chief operating officer. The plaintiff Pre-Vue was placed in receivership under a debenture by the defendant Aetna Financial Services, which was a federally incorporated lending institution operating and having assets in Manitoba, Ontario and Quebec. Brainard had, in effect, stemmed the tide of financial speculation within Aetna while the rest of the business community continued to speculate until the stock market crash of 1929. In addition to health insurance, the company offers dental, pharmacy, group life, disability, and long-term-care products. Aetna also combined its financial services business units into Aetna Retirement Services. 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. Group insurance premiums declined quickly after the war with the switch to a peacetime economy, but Aetna's prewar experience with group insurance helped the company rally with relative ease. HARTFORD, CT 06156, 151 Farmington Avenue 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. World War II finally helped pull Aetna and the nation out of the Depression. In July 1998 the company spent more than $1 billion to acquire New York Life Insurance Company's health insurance operations, which were known as NYLCare Health Plans. The number of employees grew from 29 to 2,000. Aetna also was involved in insuring the production of the atom bomb under the Manhattan Project, a uniquely challenging actuarial task because much of the information was classified. The company would withdraw from the auto insurance business in 13 other states over the next few years. Physicians did not like the restrictions that Aetna contracts placed upon them, and the company began facing a rash of class-action lawsuits not only from doctors but also from patients claiming they had been denied care. In place of administration by one man, Smith introduced the "corporate office" approach, a consensual relationship of the four top managers--chairman, president, and two vice-presidents--with the chairman still slightly dominant. In 1972 Chairman Smith initiated a management change that resembled Brainard's initiation of his new leadership style 50 years before. The decline was reversed in the early 1970s, in part because of nationwide decreases in losses and increases in premiums and in part because of Aetna's move to control costs and concentrate on the most profitable lines of insurance. The deal closed in April 1996. Of the members in Aetna's health plans, 36 percent are enrolled in health maintenance organizations (HMOs), 34 percent in preferred provider organizations (PPOs), 17 percent in point-of-service (POS) plans, and 11 percent in traditional indemnity plans. Aetna's success was in large part due to innovations in forms of insurance. In 1997, Aetna bought a leading financial planning company, Financial Network Investment Company and gave $7 million to fund the American Heart Association’s National Women’s Heart Disease and Stroke campaign. Mounting pressure from shareholders led to Huber's sudden resignation that month. The firm as a whole continued as an investor-owned company with all the efficiency of management Bulkeley believed was inherent in that arrangement. 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. He was also active in the formation of the Republican Party in Connecticut, starting a long tradition of political activism by Aetna leaders. Aetna offers plans to businesses large and small, in all 50 states. Following college, law school, and two years in a law firm, he joined Aetna as assistant treasurer, later becoming treasurer and then vice-president. Principal Subsidiaries: Aetna Health Inc.; Aetna Health of California Inc.; Aetna Health of the Carolinas Inc.; Aetna Health of Illinois Inc.; Aetna Dental Inc.; Aetna Dental of California Inc.; Aetna Life Insurance Company; Aetna Health Insurance Company of Connecticut; Aetna Health Insurance Company of New York; Corporate Health Insurance Company; Aetna Health Administrators, LLC. US Federal EIN/TIN number of this company is 06-0858223. In 1960 Aetna entered the international market with the purchase of Excelsior Life Insurance Company of Toronto. Bulkeley maintained firm control over both his government office and his corporate office. His primary interest was in politics. Six years later Aetna entered into an international cooperation agreement with Italy's Assicurazioni Generali S.p.A. through which each company provided reciprocal services to the other's clients while abroad. AETNA FINANCIAL SERVICES, INC. is a Foreign Profit Corporation. Not all health and/or life services are covered. However, a new state insurance regulation passed in nearby New York state in 1849, and strengthened in 1853, prohibited the same company from providing both fire and life insurance. The Corporate Headquarters phone lines are staffed Monday through Friday, 8 a.m. - 6 p.m. The deal added 2.5 million members to the 13.7 million people already enrolled in Aetna plans. The Texas Medical Association had opposed the deal, concerned that it would give Aetna too large a share of the market in those two cities. 300 PENN CENTER BLVD # 740 PITTSBURGH, PA 15235 Get Directions (412) 823-4704. www.ajcostanzo.com . TN41 The company's filing status is listed as Inactive - Voluntary and its File Number is 0000012830. Myron Piccoult, an analyst at Oppenheimer & Co., a brokerage firm, said the purchase of Montagu was a ''bold stroke,'' placing Aetna firmly in the commercial financial-services field. The result was the creation of a mutual department whose accounting system was separate from that of management. Etna, the Sicilian volcano), and it profited from its association with Aetna's reputation for reliability and speed in paying claims. Health benefits and health insurance plans contain exclusions and limitations. It offers medicare, health coverage, dental, vision, supplemental, pharmacy, and medicaid plans as well as international health insurance solutions. Aetna health plans cover about 13 million individuals, and its dental plans have nearly 11 million members. The Automobile Insurance Company, one of Aetna Life's affiliated companies, had contributed to the spectacular increases of the 1920s. Brainard, by contrast, intended to initiate a new style of leadership. He cut business drastically, resulting in premium income of just $7.9 million in 1927 for the auto affiliate. For a few years, this new company issued all the new forms of insurance Aetna offered, but soon further diversification was necessary. The Automobile Insurance Company also had gained new business by assuming risks from other companies. All rights reserved. "We take care," Huber stated, "of what matters most to the vast majority of the population, their health and their wealth." Although the company did suffer because it had assumed growing numbers of farm mortgages that defaulted during the Depression, Brainard's careful business practices kept the losses to a minimum. ING Aetna Financial Services offers retirement products such as 401k, 403b, 457, IRAs as well as individual products such as mutual funds and annuities ING Aetna Financial Services will help you reach your We will help you explore, plan and reach Income dropped by only a little more than 10 percent states over the next few years October 18 2018. 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