Traveling Light At Travelers

Sandy Weill is not a patient guy. In January, making it known he was displeased with Travelers' laggard group-health business, he merged it with Metropolitan Life's health unit. He vowed that the resulting company, MetraHealth, would become a national managed-care power. But it didn't happen fast enough: On June 27, MetraHealth was sold to HMO giant United HealthCare. Travelers will receive $816 million of the $1.65 billion price in cash, plus more in future payments.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.