Posts tagged CIGNA

Cigna targeting small employers with new private exchange

Cigna targeting small employers with new private exchange

Cigna is expanding its role in mobile health through a new partnership with Samsung, which itself is trying to expand in healthcare.

Cigna is expanding its role in mobile health through a new partnership with Samsung, which itself is trying to expand in healthcare.

CIGNA is revisiting the CIGNA Medical Group model for its other markets nationally as the CMG is investing about $20 million this year in construction projects at its clinics throughout the Phoenix Valley.

CIGNA is revisiting the CIGNA Medical Group model for its other markets nationally as the CMG is investing about $20 million this year in construction projects at its clinics throughout the Phoenix Valley.

On-site clinic growth continues with the City of Memphis teaming with CIGNA to offer an Employee Wellness Clinic.

On-site clinic growth continues with the City of Memphis teaming with CIGNA to offer an Employee Wellness Clinic.

What were they complaining about? Insurance companies spent millions of dollars trying to defeat the U.S. health-care overhaul, saying it would raise costs and disrupt coverage. Instead, profit margins at the companies widened to levels not seen since before the recession, a Bloomberg Government study shows.

What were they complaining about? Insurance companies spent millions of dollars trying to defeat the U.S. health-care overhaul, saying it would raise costs and disrupt coverage. Instead, profit margins at the companies widened to levels not seen since before the recession, a Bloomberg Government study shows.

CIGNA adding travel insurance business

Adding a new product line and expanding its international business, Cigna has agreed to buy travel insurance provider FirstAssist Insurance Services.  Read more here

CIGNA’s strategy: Go Deep, Go Global and Go Individual

Based on first quarter 2011 results, CIGNA is experiencing success with its strategy, which seeks to meet individual’s changing needs by going deep in targeted geographies and market segments and by leveraging its growing global capabilities. 

CIGNA’s first quarter consolidated revenues grew to $5.4 billion. This is an increase of 8% over the first quarter of 2010, after excluding the impact of the company’s planned exit from the individual Medicare Private Fee-for-Service business and reflects solid growth in each of its targeted market segments. CIGNA’s first quarter consolidated earnings were $375 million or $1.37 per share, which represents an increase of 33% and 36%, respectively, over the first quarter of 2010. 

In Health Care, first quarter 2011 premiums and fees grew 6% on a quarter-over-quarter basis, excluding the impact of the exited business. This reflects continued membership growth in the company’s targeted customer segments and increased specialty penetration. First quarter earnings for Health Care were $246 million. Read press release here