California insurance chief urges U.S. to block Aetna-Humana deal

California’s insurance commissioner on Thursday urged national antitrust regulators to block health insurer Aetna Inc’s proposed $34 billion acquisition of Humana Inc. David Jones, whose state Department of Insurance does not have authority to block the deal, said the acquisition would be anti-competitive in California and nationwide and contribute to higher prices for insurance. Jones’ comments came just days after California’s other insurance regulator said it had approved the Aetna-Humana deal with conditions, including that Aetna keep down premium increases and invest $50 million in communities.

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California insurance chief urges U.S. to block Aetna-Humana deal