Anthem Inc. will go to trial against the U.S. in late November to defend its $48 billion takeover of rival insurer Cigna Corp., a start date later than Anthem said it needed to potentially close the deal by an April deadline.
Investors appeared emboldened by remarks from a Justice Department lawyer Friday that the government was willing to hear settlement offers in its antitrust case involving the merger of the two insurers.
The Anthem-Cigna case was assigned to Judge Amy Berman Jackson, who was appointed to the bench by President Barack Obama. She set a scheduling conference for Aug. 12
Cigna Corp. CEO David Cordani faces a tough task: persuading investors and lawyers that the health insurer is committed to a $48 billion takeover by Indianapolis-based Anthem Inc., while also talking up its prospects as an independent company.
Anthem’s lawyer, Christopher Curran, told U.S. District Judge John Bates in Washington, D.C., on Thursday that Cigna’s top management is "no longer interested in being pursued."
The earnings report was the first for the Carmel-based trucking insurer since it experienced a massive overhaul of senior management in May.
Health care insurance giant Aetna Inc., facing more than $300 million in losses from Affordable Care Act health plans this year, may exit Obamacare markets.
CNO Financial shares dropped 2.8 percent Monday morning after declining 5.5 percent last week. The Carmel-based insurer said last week that it was scrutinizing a risk-transfer arrangement with Beechwood Re, the reinsurer linked to embattled hedge fund Platinum Partners.
Indianapolis-based Anthem Inc. has asked for an average 26.8 percent rate increase for individual plans offered on and off the state's health insurance exchange.
The Indianapolis-based health insurer said its participation in the government’s health insurance exchanges—a sore subject for the Obama administration that is trying to stop the acquisition—may be at stake.
The insurer started two new businesses that extend its reach into the investment world, paving the way for its salespeople to sell insurance, securities and advice.
CNO Financial Group Inc. said it’s scrutinizing a risk-transfer arrangement with Beechwood Re, the reinsurer linked to embattled hedge fund Platinum Partners.
Anthem Inc. shares fell Wednesday after the Indianapolis-based insurer said it expects to lose money on Affordable Care Act plans this year. The company had been planning to break even.
Anthem Inc. told a federal court that its proposed $48 billion merger with rival health insurer Cigna Corp. will lower consumer costs and extend coverage to more people, in response to a U.S. lawsuit seeking to block the deal.
Analysts have speculated Anthem and Cigna would part ways in the wake of a lawsuit the Department of Justice’s Department’s antitrust division filed last week seeking to block the deal.
Carmel-based CNO Financial Group Inc. on Tuesday reported quarterly earnings that slightly exceeded analyst predictions.
Cigna doesn’t appear like it’s ready to put up a fight to keep alive its $48 billion deal with Anthem, analysts say. But Aetna and Humana seem poised to put up more of a battle over their proposed merger.
Indy-based Advantage Health Solutions, which recently racked up huge losses and laid off dozens of workers earlier this year, said Thursday it is shutting down its last line of business.
Anthem Inc.’s proposed purchase of Cigna Corp. would diminish competition between insurers in markets around the nation, according to a complaint filed Thursday by the U.S. Justice Department that painted Anthem in an unflattering light.
The U.S. Justice Department filed an antitrust lawsuit against Indy-based Anthem Inc. and Cigna Corp. on Thursday. In recent years, the department has shown an increasing willingness to go to court to block deals it believes could stifle competition.
