The acquisition of HealthSpring, another insurer, for $3.8 billion last year helped lift Cigna Corp.'s net income by 49 percent in the fourth quarter.
That deal helped Cigna gain a bigger stake in the fast-growing market for Medicare Advantage plans, which are privately run versions of the government's Medicare insurance program for the elderly and disabled. Cigna, based in Bloomfield, Conn., operates health care, group disability and life insurance segments in the U.S. It also sells coverage overseas and has an expatriate option for people living outside their home countries.
Cigna also on Thursday raised its 2013 earnings forecast.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
