Connecticut Insurance Commissioner Katharine Wade contended she has no conflict of interest that would prevent her from overseeing a proposed merger between Anthem and Bloomfield-based Cigna.
In a filing to the Office of State Ethics, Wade's attorney said she has consistently followed the advice of state ethics officials, even prior to her nomination as commissioner in 2015, and that she took steps to avoid any potential conflict of interest.
Meanwhile, State Senate Minority Leader Len Fasano was joined by two other Republicans—Senators Kevin Kelly and Michael McLachlan -- in contending in a filing that Wade’s participation in the takeover of Cigna by Anthem does constitute a violation of the State Code of Ethics.
The three senators said that’s because Wade’s husband stands to benefit as a high-level Cigna employee and stockholder. They said the deal includes a substantial premium offer for stockholders.
Wade herself is a former Cigna vice president.
This week it was reported that the U.S. Department of Justice is probably preparing anti-trust lawsuits to block the Anthem-Cigna merger, as well as another takeover of Humana by Hartford-based Aetna.
State Senate President Martin Looney said he’s encouraged by these reports, and urged Wade to recuse herself.
