Aetna/Genworth Financial

Aetna has entered into an agreement with Genworth Financial, Inc., to acquire Genworth’s Medicare supplement and related blocks of in-force business. The business has more than 145,000 Medicare supplement members.

Aetna will acquire 100 percent of the stock of Continental Life Insurance Company of Brentwood, TN (CLI), and reinsure certain related blocks of in-force business. The purchase price is approximately $290 million. The transaction will be treated as an asset purchase for tax purposes and is subject to customary closing conditions, including federal Hart-Scott-Rodino antitrust and state regulatory approvals. The transaction is expected to close during the fourth quarter of 2011. Ë›

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