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Article: Ronald Compton: CEO bets future success on being a specialist, not a generalist.(Interview)
- Article from:
- Business Insurance
- Article date:
- November 3, 1997
- Author:
CopyrightCOPYRIGHT 1997 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Ronald Compton says he believes in bold moves. His actions back up his words.
Within four months between late 1995 and early 1996. Mr. Compton, the chairman and CEO of Aetna Inc., transformed what had been Aetna Life & casualty Co. from a multiline insurer into a managed health care giant. First, he said Aetna's property/casualty business for $4 billion to his Hartford. Conn., neighbor, Travelers Corp., in December 1995.
Four months later, Mr. Compton snapped up U.S. Healthcare, the second half of his one-two punch for restructuring the company and making Aetna the nation's second-largest managed health care company.
The dual moves mark the culmination ...