An American Health Insurance Company Essay

804 Words Jan 24th, 2016 4 Pages
An American Health Insurance Company
The history Aetna, dates back to the 1800’s when the company started operating as Aetna Fire Insurance Company back in 1819. Aetna then organized an annuity fund to sell life insurance in 1853 changing the company’s name to Aetna Life Insurance Company. The company’s first president Elipahlet A. Bulkeley decided to keep the name “Aetna” to take advantage of the good reputation, and the name was inspired by an 11,000-foot volcano on the eastern shores of Sicily, Mt. Etna, which was the most active volcano in Europe (Aetna History).
Throughout time Aetna, continued its efforts to transform the company from a mono-line insurer to a company that offered a variety of coverages to include, farm mortgages, accident coverage policy, liability coverage, automobile coverage and later collision and damage coverage. By the year 1913, Aetna formed a department that specialized in selling group life insurance, making the company the first insurers to write group coverage for businesses, and this became the foundation upon which Aetna built its current health care business. When the US entered World War I, Aetna used its financial power to provide insurance needed to bond contractors involved in government construction, and Aetna also helped fund the country’s war effort by purchasing and selling millions of dollars of Liberty Bonds (Aetna History). From 1931-1940, Aetna also bonded the construction of many landmarks in the US to include the Hoover…

Related Documents