CVS to keep Aetna in Hartford

Flickr Creative Commons | Chez Julius Livre 1

The insurance giant announced in June that it would move its headquarters to New York City beginning in late 2018 after almost two centuries in Hartford.

CVS Health Corp., which is buying Aetna, said Friday it will not relocate Aetna from Hartford.

At that time, Aetna said all of its locations would be evaluated as part of its integration with CVS. CVS Health has an incredible track record of corporate stewardship, and we welcome their leadership, and commitment to naming Hartford a center of excellence for the insurance business.

But that plan was cast into doubt as the insurer reached a merger agreement with Rhode Island-based pharmacy chain CVS.

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The reversal is a win for CT, which has lost other corporate residents in recent years and has been struggling with budget shortfalls and declining population. News of the headquarters moving was seen as a blow to CT.

Aetna traces its roots in Hartford to 1819. The move would have affected 250 jobs, the company said.

A $9.6 million incentive package to move Aetna's headquarters from CT to New York City has been revoked after CVS acquired the company. The insurer had planned to move into a 170,000-square-foot Chelsea building developed by Vornado Realty Trust and Aurora Capital Associates.

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