Aetna 2014 Annual Report Download - page 17
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Annual Report- Page 11
GROUP INSURANCE
Group Insurance primarily includes group life insurance and group disability products. Group life insurance
products are offered on an Insured basis and include basic and supplemental group term life, group universal life,
supplemental or voluntary programs and accidental death and dismemberment coverage. Group disability products
primarily consist of short-term and long-term disability products (and products which combine both), which are
offered to employers on both an Insured and an ASC basis, and absence management services offered to employers,
which include short-term and long-term disability administration and leave management. Group Insurance also
includes long-term care products that were offered primarily on an Insured basis, which provide benefits covering
the cost of care in private home settings, adult day care, assisted living or nursing facilities. We no longer solicit or
accept new long-term care customers.
Operating Summary
(Millions) 2014 2013 2012
Premiums:
Life $ 1,240.7 $ 1,150.6 $ 1,066.8
Disability 824.9 742.4 623.6
Long-term care 44.3 44.9 45.9
Total premiums 2,109.9 1,937.9 1,736.3
Fees and other revenue 104.3 115.4 105.7
Net investment income 261.2 286.6 282.8
Net realized capital gains 14.4 1.3 22.7
Total revenue 2,489.8 2,341.2 2,147.5
Current and future benefits 1,798.3 1,811.2 1,532.6
Operating expenses:
Selling expenses 116.1 105.8 89.8
General and administrative expenses 337.2 301.7 280.5
Reversal of allowance on reinsurance recoverable —(42.2) —
Total operating expenses 453.3 365.3 370.3
Amortization of other acquired intangible assets 1.2 4.4 4.4
Total benefits and expenses 2,252.8 2,180.9 1,907.3
Income before income taxes 237.0 160.3 240.2
Income taxes 57.4 32.3 62.3
Net income including non-controlling interests 179.6 128.0 177.9
Less: Net income attributable to non-controlling interests —2.8 1.6
Net income attributable to Aetna $ 179.6 $ 125.2 $ 176.3