Aetna Announces Impact of Terrorist Bombings Not Financially Material.Business Editors HARTFORD Hartford, city (1990 pop. 139,739), state capital, Hartford co., central Conn., on the west bank of the Connecticut River; settled as Newtown 1635–36 on the site of a Dutch trading post (1633; abandoned 1654), inc. 1784. , Conn.--(BUSINESS WIRE)--Sept. 17, 2001 Aetna (NYSE NYSE See: New York Stock Exchange :AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. ) today announced that based on currently available information, including the effects of reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and other factors, its financial exposure from the attack on America on September 11 related to its Group Insurance business is expected to be in the range of $10 million to $15 million before tax. Aetna's payments for life insurance coverage annually are in the range of $1 billion. Aetna also said it does not expect any material losses from its investment portfolio, including real estate, and that its health business has not experienced an increase in medical claims despite having adjusted its policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental to facilitate access to medical care. Aetna is the nation's leading provider of health care and related group benefits, serving 18.1 million health care members, 13.9 million dental members and 11.7 million group insurance customers. Information about Aetna is available at www.aetna.com. CAUTIONARY STATEMENT - Certain information in this press release is forward looking, including, without limitation, the statements regarding the projected financial impact of the events of September 11, 2001 on the Company. Those statements are based upon information currently known to the Company internally and from published reports, and that information could change as further detail regarding the events of September 11, 2001 becomes available. Also, forward-looking information, in general, is based on management's estimates, assumptions and projections, and is subject to significant uncertainties and other factors, many of which are beyond Aetna's control. Important risk factors could cause actual future results and other future events to differ materially from those estimated by management. For more discussion of important factors that may materially affect Aetna, please see the risk factors contained in Aetna's 2000 Report of Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , on file with the Securities and Exchange Commission. You also should read Aetna's Form 10-K and Aetna's Form 10-Qs Form 10-Q See 10-Q. for the 2001 first and second quarters for a discussion of Aetna's historical results of operations and financial condition. |
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