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Bulletin: Genworth Financial Inc. And Aetna Inc. Ratings Unaffected By Agreement To Sell Medicare Supplement Business To Aetna Jun 11
Standard & Poors, June 2011
Abstract
NEW YORK (Standard & Poor's) June 13, 2011--Standard & Poor's Ratings Services today said that Genworth Financial Inc.'s (BBB/Negative/A-2) announcement that it reached an agreement to sell its Medicare Supplement and related blocks of in-force business to Aetna Inc. (A-/Stable/A-2) for about $290 million will not affect the ratings on the companies. The block of business that Aetna will acquire from Genworth includes more than 145,000 Medicare Supplement members, and it had approximately $317 million of net earned premium in 2010. We believe that the sale of the business is consistent with both companies' strategies for managing their product portfolios and that the size of the transaction is not material to either company. The transaction, which Aetna intends to finance...
Companies mentioned in this report are: Genworth Financial Inc.,Aetna Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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