Davis Polk Reps Aetna In $290M Genworth Buy

Law360, New York (June 13, 2011, 3:25 PM EDT) -- Aetna Inc. said Monday that it would buy Genworth Financial Inc.'s Medicare supplement insurance business for $290 million.

Aetna said it would acquire Genworth's Brentwood, Tenn.-based Continental Life Insurance Co. and its subsidiary American Continental Insurance Co. The deal also includes reinsurance agreements between certain Genworth life insurance subsidiaries and Aetna to transfer the Medicare supplement in-force business sold by these Genworth entities, according to Aetna.

The deal is the latest buy for health care company Aetna — which has snapped up a third-party administrator of...
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