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New York Life Completes Acquisition of Cigna’s Group Life and Disability Insurance Business
Acquisition enhances New York Life’s portfolio of strategic businesses, contributes to financial strength, and increases value for clients, producers, and policy owners
Group Life and Disability Business Rebranded
New York Life Group Benefit Solutions
NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest mutual life insurer
1, today announced the completion of the company’s acquisition of Cigna’s group life, accident, and disability insurance business. The $6.3 billion acquisition, which was first announced on December 18, 2019, adds approximately 3,000 employees, over nine million customers
2, and enhances New York Life’s portfolio of strategic businesses, which support the core retail life insurance franchise and bolster the company’s financial strength. The new business will be rebranded New York Life Group Benefit Solutions.