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