The group benefits business is part of the company’s group disability and other operations division, which, reported $1.31 billion of adjusted revenue in the quarter ended June 30. (Photo: AP)
In the latest example of big businesses narrowing their product portfolio, Cigna Corp. is rumored to be exploring a potential sale of its group benefits insurance business, worth possibly as much as $6 billion.
The news was first reported by Reuters, citing information from a four unnamed sources familiar with the situation, who added that Cigna’s move indicates its heightened focus on health care after it spent $54 billion last year to acquire pharmacy benefits manager Express Scripts Holding Co.
Related: How broker consolidation and industry alliances are changing the industry
A company spokesperson neither conformed nor denied the news, saying, “Given the dynamic marketplace, we continually review opportunities to ensure we continue to deliver value to our customers and clients.”
Continue Reading for Free
Register and gain access to:
- 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.
Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
