Content area
Full Text
Aetna Inc. agreed to acquire Genworth Financial Inc.'s Medicare supplement business for $290 million.
As part of the deal, Aetna will acquire Genworth unit Continental Life Insurance Co. of Brentwood, Tennessee and its subsidiary American Continental Insurance Co. (TN), as well as provide reinsurance support to in-force blocks of business.
Aetna noted that the acquired business includes more than 145,000 Medicare supplement members and produced $317 million of net earned premium for 2010, including ancillary accident...