M&A Deal Summary

Aetna Acquires NYLCare Health Plans

On March 17, 1998, Aetna acquired insurance company NYLCare Health Plans from New York Life Insurance Company for 1.1B USD

Acquisition Highlights
  • This is Aetna’s 2nd transaction in the Insurance sector.
  • This is Aetna’s 3rd largest (disclosed) transaction.
  • This is Aetna’s 2nd transaction in the United States.
  • This is Aetna’s 1st transaction in New York.

M&A Deal Summary
Date 1998-03-17
Target NYLCare Health Plans
Sector Insurance
Buyer(s) Aetna
Sellers(s) New York Life Insurance Company
Deal Type Divestiture
Deal Value 1.1B USD

Target

NYLCare Health Plans

New York, New York, United States
NYLCare Health Plans is the health insurance unit of life insurer New York Life Insurance Company.

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Buyer(S) 1

Buyer

Aetna

Hartford, Connecticut, United States
Category Company
Founded 1853
Sector Insurance
Employees50,100
Revenue 63.2B USD (2016)
DESCRIPTION

Aetna, Inc. is a diversified health care benefits company. Aetna offers medical, pharmaceutical, dental, behavioral health, long-term care, and disability health-care plans. Aetna was founded in 1853 and is based in Hartford, Connecticut.

DEAL STATS #
Overall 2 of 14
Sector (Insurance) 2 of 6
Type (Divestiture) 1 of 3
State (New York) 1 of 2
Country (United States) 2 of 13
Year (1998) 1 of 1
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-04-02 U.S. Healthcare

Blue Bell, Pennsylvania, United States

U.S. Healthcare Inc. is a health insurance provider.

Buy $8.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-20 Aetna Financial Services

Connecticut, United States

Aetna Financial Services consists of Aetna's non-healthcare insurance products offerings.

Sell $7.7B

Seller(S) 1

SELLER

New York Life Insurance Company

New York, New York, United States
Category Company
Founded 1845
Sector Insurance
Employees12,000
DESCRIPTION

New York Life Insurance Company is a US mutual-life insurance company. New York Life was formed in 1845 and is based in New York City.

DEAL STATS #
Overall 1 of 2
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 2
State (New York) 1 of 1
Country (United States) 1 of 1
Year (1998) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-01 ACE Fianzas Monterrey SA

Miguel Hidalgo, Mexico

Fianzas Monterrey was founded in 1943 and is Mexico's second-largest surety lines company, offering administrative performance bonds mainly to construction and industrial clients. It has 25 branch offices and distributes its products through nearly 600 independent agents and brokers.

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