Aetna today declared that it has stepped into a 4-year reinsurance arrangement with Vitality Re VIII Limited as part of its long-term capital management strategy. The arrangement permits Aetna to decrease its required capital and gives $200 million of collateralized excess of loss reinsurance coverage on a portion of Aetna’s group commercial health insurance business. Vitality Re VIII Limited is a newly developed insurance company which released health insurance-linked notes in a private offering in connection with this transaction.
“Today’s transaction marks the victorious completion of our 8th such reinsurance arrangement,” claimed Aetna’s Treasurer David Buda. “This reinsurance arrangement makes better our capital efficiency and decreases our weighted average cost of capital.”
Aetna is considered to be one of the nation’s leading diversified health care benefits companies, serving an estimated 46.7 million individuals with information and resources to assist them make better informed decisions about their health care. Aetna gives a broad range of traditional, voluntary and consumer-directed health insurance products and related services, involving medical, dental, pharmacy, behavioral health, group life and disability plans, and medical management capabilities, workers’ compensation administrative services, Medicaid health care management services, and health information technology (HIT) products and services. Aetna’s customers involve employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates.
Your email address will not be published. Required fields are marked *
Aetna Announces The Completion of $1 Billion Bond Public Offering
Aetna Declares A Brighter Experience For Entire Members of Aetna Dental Team
Urgent care chain utilizes patient feedback to empower performance
Patrick Conway is quitting CMS to supervise BCBS North Carolina
Copyright© 2015 Healthcare insurance News All Right Reserved