Aetna Life Insurance and Annuity Company Forms Alliance with Huntington Insurance Agency Inc.

Strategic Insights -

Aetna Life Insurance and Annuity Company, a subsidiary of Aetna Life and Casualty Company, has reached a significant milestone with the announcement of a selling agreement with Huntington Insurance Agency Inc., a subsidiary of Huntington Bancshares, Inc. This strategic partnership aims to bring Aetna's life insurance products to Michigan, leveraging Huntington Insurance's extensive network in the Midwest. As one of the nation's largest stockholder-owned insurance and financial services companies, Aetna brings nearly $95 billion in consolidated assets to the partnership, while Huntington Bancshares boasts assets approaching $18 billion. The collaboration is set to meet the insurance and investment needs of Huntington Insurance's customers, with key figures including David M. Sanderford, ALIAC's Vice President/Financial Institutions Marketing, and William Browning, President of Huntington Insurance.

Key Takeaways:

  • Aetna Life Insurance and Annuity Company (ALIAC) has formed a selling agreement with Huntington Insurance Agency Inc., a subsidiary of Huntington Bancshares, Inc.
  • The partnership will allow Huntington Insurance to sell ALIAC life insurance products in Michigan.
  • Aetna's Vice President/Financial Institutions Marketing, David M. Sanderford, expressed enthusiasm for the partnership, stating that ALIAC looks forward to helping Huntington Insurance meet the insurance and investment needs of their customers.
  • William Browning, President of Huntington Insurance, expressed confidence in the partnership's potential, citing the Aetna name's reputation and respect throughout the Midwest.
  • Ken DiFrancesca, Regional Director/Financial Institutions Marketing for ALIAC, will oversee the relationship between Huntington Insurance and ALIAC.
  • Elaine Widmer, Regional Vice President for ALIAC's Life Insurance Business Unit, will play a key role in implementing the new program at Huntington Insurance.

Statistics:

  • Realized Assets: $21 billion (ALIAC assets)
  • Consolidated Assets: $95 billion (Aetna's assets)
  • Assets Approach: $18 billion (Huntington Bancshares' assets)

Sources:

  • Aetna Life Insurance and Annuity Company (August 15, 1995)
  • Business Wire (August 15, 1995)