Date set for SX appeal
The Commerce Commission will argue its case against Southern Cross keeping 40,000 Aetna Health insurance policies in September.
Wednesday, May 23rd 2001, 7:36AM
Originally the commission ordered Southern Cross to sell all the policies as a condition of approving its third application to acquire Aetna.
However, the High Court reversed that ruling in a decision earlier this year.
The commission is appealing that decision which allows Southern Cross to keep hold of 40,000 health policies written by Aetna. The polices are worth about $70 million.
The commission originally argued that Southern Cross would have a dominant market position if it kept the policies. However, the court ruled otherwise, saying the barriers to entry in the market were low and there was plenty of competition.
| « Fidelity's new long term care policy | Mixed reviews from advisers on FMA regulation » |
Special Offers
Commenting is closed
|
|
Printable version |
|
Email to a friend |
