FRANKFORT, Ky. (April 27, 2016) – The Kentucky Department of Insurance has approved Anthem’s application to purchase Cigna Dental Health of Kentucky Inc., doing business as Cigna Dental Health. The decision comes after seven months of review.
Department of Insurance analysts have determined that the acquisition would not unfairly reduce competition in the state, would not tend to create a monopoly, and would not jeopardize the insurers, policyholders or the insurance-buying public.
“We have a duty to protect consumers and we take that responsibility very seriously,” said Insurance Commissioner Brian Maynard. “Our internal analysts and external independent economists found that this acquisition would not substantially lessen competition on a statewide basis due to Cigna’s small share of the overall Kentucky insurance market.
”Approving the acquisition does not restrict, limit, or inhibit the department’s ability to investigate matters related to Anthem or Cigna. Nationally, the proposed deal must go through a 26-state review. At least 10 other states have already approved the transaction.
“I want to commend the professionalism of the staff at the Department of Insurance and our outside economists for their due diligence in this matter,” concluded Maynard.