Cigna has reached an agreement to divest its life, accident and supplemental benefits businesses in seven Asia-Pacific countries.
In a statement, officials with the Bloomfield-based insurer and health conglomerate said Chubb Ltd. will pay $5.75 billion in cash to acquire Cigna’s life, accident and supplemental benefits operations in Hong Kong, Indonesia, South Korea, New Zealand, Taiwan and Thailand, as well as Cigna’s interest in a joint venture in Turkey.
Those businesses generated approximately $3 billion in net premiums written in 2020, according to Chubb.
Health insurer Cigna said more of its customers are once again taking advantage of preventative care offerings after a dropoff at the height of the COVID-19 pandemic.
During an earnings call with analysts Friday morning, Cigna President and CEO David Cordani said Cigna-insured patients are undergoing mammograms, colonoscopies and cervical cancer screenings and getting their children vaccinated at rates comparable to the months before the coronavirus reached the U.S.
“That’s a tremendous result,” Cordani said. “The national data we see more broadly is that utilization of preventative care services is at a more dampened rate, but ours is at an elevated or more consistent rate from that standpoint, which is quite important.”
Hudson County View
By John Heinis/Hudson County View
CarePoint began a partnership with Horizon Blue Cross Blue Shield of New Jersey in 2018 and UnitedHealthcare in 2019.
With the new addition of Cigna, CarePoint now participates with almost every major insurance carrier and the majority of commercially insured patients in Hudson County now have in-network access to its medical care.
“We’re excited and pleased to announce Bayonne Medical Center, Hoboken University Medical Center and Christ Hospital can now offer health care to Cigna members on an in-network basis as part of our dedication to patient-centered care,” CarePoint CEO Dr.
Achintya Moulick said in a statement.
Cigna Promotes Eric Palmer To COO, Brian Evanko To CFO
WASHINGTON (dpa-AFX) - Health service company Cigna Corp. (CI) announced Thursday leadership changes designed to accelerate the company s growth through its two power brands, Cigna and Evernorth.
Effective January 1, 2021, Eric Palmer will become the president and chief operating officer of Evernorth and Brian Evanko will become executive vice president and chief financial officer of Cigna.
In this new role, Palmer will have oversight of Evernorth s pharmacy services, care management services and benefit management services. He will remain a member of Cigna s enterprise leadership team, and report to Evernorth CEO Tim Wentworth. Palmer joined the company in 1998.