UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K/A
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date
of Report (Date of earliest event reported):
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September
23, 2008
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Aetna
Inc.
(Exact
name of registrant as specified in its charter)
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Pennsylvania
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1-16095
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23-2229683
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(State
or other jurisdiction of
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(Commission
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(IRS
Employer
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incorporation)
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File
Number)
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Identification
No.)
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151
Farmington Avenue, Hartford, CT
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06156
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code:
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(860)
273-0123
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Former
name or former address, if changed since last report:
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Not
applicable
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 8.01
Other Events.
As
previously disclosed on September 18, 2008, Aetna Inc. (together with its
consolidated subsidiaries, "Aetna") has a reinsurance recoverable (the
“Recoverable”) in the amount of $163 million (at August 31, 2008) from an
affiliate of Lehman Brothers Holdings Inc. The Recoverable results
from a 1999 transaction in which Lehman Re Ltd. (a Bermuda company, “Lehman Re”)
reinsured a block of paid-up group whole life insurance policies issued by Aetna
between 1941 and October 22, 1999. On September 19, 2008, Aetna took
possession of the assets supporting the Recoverable (the “Assets”), which
previously were held as collateral in a trust. On September 23, 2008,
Lehman Re commenced proceedings in Bermuda to liquidate itself. Given
current market conditions, the value of the Assets may continue to fluctuate,
and Aetna currently estimates that the Assets have a market value that is less
than the amount of the Recoverable. Aetna intends to pursue its
claims in Lehman Re’s liquidation proceedings, including its claim for any
amount by which Lehman Re’s obligations to Aetna exceed the
Assets. Aetna will assess the impact of these circumstances in
connection with the preparation of its third quarter 2008 financial
statements.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Aetna
Inc.
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Date: September
29, 2008
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By:
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/s/
Rajan Parmeswar
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Name: Rajan
Parmeswar
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Title: Vice President, Controller
and Chief Accounting
Officer
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