Travelers And Met May Close Ranks
Is Sandy Weill getting antsy? On Mar. 22, Travelers and Metropolitan Life Insurance confirmed they are exploring "possible alliances" between their health-care operations. The companies wouldn't elaborate, but analysts are speculating that Weill, who bought Travelers last year, hasn't been happy with the small profits from the insurer's health business. Travelers insiders say that the Hartford-based insurer isn't yet ready to give up on the unit. But Travelers and Met are the two smallest health insurers of the so-called Big Five; an alliance could give them more clout.