Aetna Life Insurance Company · Hartford, CT United States
Company Description
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This link will open in a new window Aetna thinks you ought'a have some life insurance. As the life insurance subsidiary of health care giant Aetna , Aetna Life Insurance Company (ALIC) offers group life policies and select individual products throughout North America. ALIC was founded in 1853 as a spinoff of Aetna Insurance Company. After more than 150 years in operation, the company has more than 20,000 group life contracts in force. The parent company's operations are focused on accident and health insurance, while life insurance accounts for about 5% of total earned premiums. To read the full description, subscribe now.
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Key Aetna Life Insurance Company Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 27,550 |
Aetna Life Insurance Company Executives
9 executives listed for Aetna Life Insurance Company's Hartford, CT location.
| Title | Name & Bio | Contact |
| Chairman and CEO | Ronald Williams | Network |
| President | Mark Bertolini | Network |
| EVP and CFO | Joseph Zebretsky | Network |
Competition
Competitive Landscape for Aetna Life Insurance Company
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Aetna Life Insurance Company Competitors
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