In a deal between two of the country’s largest disability insurers, The Hartford agreed to purchase Aetna Life Insurance Company’s group life insurance and disability insurance business for $1.45 billion. After the purchase, which is expected to close before the end of 2017, The Hartford will be the second largest group life and disability insurer, with 20 million customers insured by the combined business. A vast majority of these customers’ claims will be governed by ERISA.
According to media reports, The Hartford’s purchase of Aetna’s group life and disability insurance was designed to strengthen the company’s business among mid-sized companies, and take advantage of Aetna’s superior technology infrastructure. Aetna, in turn, will focus on its race with rival health insurance companies like UnitedHealth Group, Cigna and Anthem.
The McKennon Law Group has successfully represented many clients with claims against both The Hartford and Aetna. If your group disability insurance claim or group life insurance claim was denied, please contact the McKennon Law Group at (949) 387-9595 for a free consultation.