A number of health insurers nationwide are merging or considering merging, including companies doing business here in Washington State. The Office of the Insurance Commissioner (OIC) is closely monitoring these consolidations to ensure that the financial condition of the companies is sound and consumers are protected.
A10 Capital acquisition of REtitle Insurance
A10 Capital LLC (A10) filed an application for the acquisition of REtitle Insurance Company (REtitle) that was received on October 4, 2017. REtitle Insurance Company is located in Shelton, WA and was formerly known as Mason County Title Insurance Company for many years.
We held a hearing on January 11, 2018, and the acquisition was approved on January 26, 2018.
The final order can be found in the Administrative Hearings website under REtitle acquisition by A10 Capital under Docket No 17-0369.
CVS acquisition and merger of Aetna
CVS Health Corp (CVS) filed an application for the acquisition and merger of Aetna Inc (Aetna) received on January 17, 2018. Aetna Inc is the ultimate controlling person of Aetna Better Health of Washington Inc. located in Seattle, WA. Aetna Better Health of Washington Inc. was recently formed as a Washington domestic health care service contractor during October 2017.
The CVS-Aetna merger is also under review by the Federal Trade Commission under the Hart-Scott-Rodino Act. The Department of Justice requested additional information on February 2, 2018. Their review remains pending.
We have established the review process under a case management order to determine the fairness of the transaction and hear any objections to this proposed acquisition. Persons who wish to participate in the adjudicative proceedings of this acquisition as an intervenor must file a petition to the Hearings Unit by February 28, 2018. Instructions for filing petitions to the Hearings Unit are found in the case management order 18-0029.
Information about the proposed transaction and case management order can be found in the Administrative Hearings website under Aetna Better Health CVS - Docket No 18-0029.