On Thursday, June 16 the California insurance commissioner weighed in on the pending Anthem-Cigna merger, urging the U.S. Department of Justice to block Anthem’s acquisition of Cigna.
California’s insurance commissioner on Thursday urged the U.S. Department of Justice to block health insurer Anthem Inc’s (ANTM.N) acquisition of Cigna Corp (CI.N), saying he is concerned it will raise premiums in the state.
Dave Jones, who as insurance commissioner in California does not have authority to approve the deal, said he believes his recommendation will hold weight with U.S. antitrust regulators examining the acquisition.
Anthem announced plans to buy Cigna last summer. Recently Anthem said it believed the Justice Department was examining the employer-based health insurance market in which the insurer acts as the health plan administrator.
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