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Cigna
Type
Public
Traded as NYSE: CI
S&P 500 Component
Industry Managed health care
Founded 1792 as Insurance Company of North America (INA)
Headquarters 900 Cottage Grove Road
Bloomfield, Connecticut, U.S.
Key people
David Cordani, Chairman and CEO
Products Health plans, Group Disability, Life and Accident Insurance, and Disability and Workers' Compensation Case Management
Revenue Increase $ 39.668 billion (2016)
Operating income
Increase $ 2.104 billion (2016)
Net income
Increase $ 1.867 billion (2016)
Total assets Increase $ 59.360 billion (2016)
Total equity Increase $ 13.723 billion (2016)
Number of employees
41,000 (December 2016)
Website www.Cigna.com
Cigna Global Health Benefits
Type
Subsidiary
Industry Employee Benefits
Founded 1977
Headquarters Wilmington, Delaware, US
Key people
Jason Sadler, President, Cigna Global Health Benefits
Products Medical, Dental, Disibility, Life Insurance
Parent Cigna Corporation
Website www.Cignaglobalhealth.com

Cigna is an American worldwide health services organization based in suburban Hartford, Connecticut. Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance and related products and services, the majority of which are offered through employers and other groups (e.g. governmental and non-governmental organizations, unions and associations).

Cigna offers Medicare and Medicaid products and health, life and accident insurance coverages primarily to individuals in the U.S. and selected international markets. In addition to its ongoing operations described above, Cigna also has certain run-off operations, including a Run-off Reinsurance segment. In the Phoenix metropolitan area, Cigna runs a full-service staff-model HMO (health maintenance organization) with satellite clinics throughout the region, known as the Cigna Medical Group.

Cigna Global Health Benefits also operates under the Cigna corporation. Their tag line is 'Together, all the way.'

Cigna was formed by the 1982 merger of the Connecticut General Life Insurance Company (CG) and INA Corporation (the parent corporation of Insurance Company of North America, the first stock insurance company in America). Insurance Company of North America was formed in 1792 and is therefore a corporate ancestor of Cigna. The CG was created in 1865 by a special act of the Governor of Connecticut. In October 1871, the great Chicago Fire burned for two days, destroyed 2,000 acres and left 100,000 people in Illinois homeless. INA paid $650,000, one of only 51 insurance companies (out of a total of 202) to pay claims in full.

Before selling its domestic and international property and casualty business to the Bermuda-based ACE Insurance company in the late 1990s, Cigna was among the companies with a large international network comparable to those of AIG, Allianz, and Zurich. The strategy behind the sale was to concentrate on core business. ACE – at that time a key player at the Bermuda and Lloyds insurance market – on the other hand was interested on expanding the international network in the traditional insurance market.

Cigna sold the majority of its life insurance operations to Lincoln National Corporation in 1997. Cigna now operates in 30 countries, has approximately 35,800 employees and manages around US$53.734 billion in assets.

In 2002, it was alleged in violation of the Securities Exchange Act for earnings manipulation. Its common stock price plummeted significantly as a result. In October 2011, Cigna agreed to buy HealthSpring Inc. for $3.8 billion to jump-start its business selling Medicare plans from 46,000 Medicare Advantage members to almost 400,000 Medicare Advantage members. The payment would come from an issue of new equity to cover about 20 percent of the value, with the rest funded by additional cash and debt.

In June 2015, U.S. health insurer Anthem Inc. announced an offer to acquire Cigna for more than $47 billion in cash and stock. Anthem confirmed it had reached a deal to buy Cigna on July 24, 2015. On July 21, 2016, the US Justice Department filed an antitrust suit to block the proposed merger, and a District Court ruling on February 8, 2017 blocked the merger on anticompetitive grounds. That month, Cigna Corp. called off its $48 billion merger agreement with Anthem Inc., with Anthem stating it would "continue to enforce its rights under the merger agreement and remains committed to closing the transaction."

Cigna Global Health Benefits is a business unit within Cigna. The company is headquartered in Wilmington, Delaware, close to Philadelphia. Additional Cigna Global Health Benefits operations are located in Visalia, California, and Greenock, Scotland and Shanghai, China and Antwerp, Belgium. Sales offices are located in North America, Europe, Asia and the Middle East.

CGHB global health plans typically include medical, dental, behavioral and disability, as well as business travel and life components. Expatriates are defined as employees of multinational companies working outside their home country on short, and long-term international assignments. CGHB maintains its own, in-house international claims platform, and offers a network of physicians and hospitals for its members (including 550,000 in the U.S. and more than 141,000 outside the U.S.).

In December 2007, Cigna was criticized after the company refused to pay for a liver transplant of a California teenage girl, Nataline Sarkisyan, justifying their refusal to pay by claiming that the procedure was experimental, even though there was a liver ready and waiting to be transplanted and doctors estimated she had a 65% chance of surviving at least six months. In response to much protest and public scrutiny, Cigna reversed its decision, though Ms. Sarkisyan died awaiting the transplant. Cigna notes that it had no financial stake in the decision to authorize the transplant because it merely administers the insurance plan of Mr. Sarkisyan's employer and would not bear the cost of any operation. However, Cigna offered to pay for the transplant itself when it made the exception to the policy.

Even though liver transplants have been performed since 1963 and are a well accepted treatment option for end-stage liver disease and acute liver failure, Cigna defended its actions by claiming that there was insufficient data to show that a transplant for a patient in Sarkisyan's condition would be safe and effective. The California court agreed with Cigna’s position that the Sarkisyans’ claims regarding Cigna's decision-making were preempted by federal ERISA law. On April 16, 2009, the United States District Court for the Central District of California dismissed all of the claims against Cigna related to the coverage determination.

In 2011, the California Nurses Association determined that Cigna denies roughly 39.6% of all claims (compared to competitors such as Aetna who denied about 5.9% of all claims in the same time frame).

In August 2012, Cigna fought and lost their argument in court that ABA therapy for autistic children is "experimental". The courts decided the therapy is a known treatment for autistic children, and Cigna’s arguments had no merit. As of 2011, Cigna was fighting to have this decision reversed.

On February 9, 2005, CIGNA elected to adopt in the fourth quarter of 2004 fair value accounting for its stock options in accordance with SFAS No. 123 and to restate prior periods.

The UK newspaper Guardian in their Esc and Ctrl videoblog about control of the Internet by corporations, documented an incident with Nataline Sarkisyan and the former vice president of Cigna talking about astroturfing, the practice of creating fake blogs by interested groups, e.g. health insurance companies, to push claims that are profitable for said company into media, e.g. dismissing universal health care.

Cigna spent more than $4.4 million from 2005 to 2009 on lobbying to attain legislation that the company favors. This includes $720,000 spent in 2009 alone, when it had 20 lobbyists at five firms working on their behalf.

In 2008, the head of Cigna's public relations, Wendell Potter, resigned, becoming a whistleblower who gave testimony in 2009 to the U.S. Senate Committee on Commerce, Science and Transportation in favor of reform of the health care industry.

Cigna received gold in the 2009 Gartner & 1to1 Customer Experience Excellence Award. The awards are given to the companies that "most clearly demonstrate exemplary customer relationship strategy and an unrivaled level of excellence in delivering the customer experience".

In January 2010, Cigna received the JD Power award for customer service for all of its call centers for the fourth time in a row.

In 2008, the Cigna Foundation contributed $2,533,535 to charitable activities that promote wellness. Since 1995, Cigna and its employees have contributed $22.3 million to the March of Dimes.

In July 2010, Cigna began giving each company employee eight hours of paid time off annually to volunteer with non-profit health and community service organizations. The Salvation Army of Greater Philadelphia helped kick off the program in front of Cigna's Philadelphia headquarters with the Christmas in July campaign.

On April 16, 2010, Cigna announced an alliance with Humana group to offer a streamlined Medicare Advantage offering through employer clients for retirees.

In November 2011, Cigna and TTK Group, an Indian business conglomerate focused on healthcare, formed a joint venture called Cigna TTK to develop a health insurance business in India subject to obtaining government approvals.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-02-04 Future report Set alerts
Q3 2020 2020-11-05 Future report Set alerts
Q2 2020 2020-07-30 5.81 4.73
Q1 2020 2020-04-30 4.69 3.15
Q4 2019 2020-02-06 4.31 2.60
Q3 2019 2019-10-31 4.54 3.57
Q2 2019 2019-08-01 4.30 3.70
Q1 2019 2019-05-02 3.90 3.56
Q4 2018 2019-02-01 2.46 0.55
Q3 2018 2018-11-01 3.84 3.14

Ratings

2016-07-08 Reiterated Rating Oppenheimer Holdings Inc. Outperform $149.00
2016-06-28 Initiated Coverage Wolfe Research Outperform $172.00
2016-06-28 Initiated Coverage Stifel Nicolaus Buy to Buy $122.09 to $169.00
2016-06-20 Reiterated Rating FBR & Co. Hold
2016-06-20 Reiterated Rating FBR & Co Hold
2016-06-15 Reiterated Rating Leerink Swann Outperform $155.00
2016-06-01 Boost Price Target Barclays Equal Weight $156.00 to $168.00
2016-06-01 Boost Price Target Barclays PLC Equal Weight $156.00 to $168.00
2016-05-18 Boost Price Target RBC Capital Sector Perform $169.00 to $174.00
2016-05-18 Boost Price Target Royal Bank Of Canada Sector Perform $169.00 to $174.00
2016-05-10 Reiterated Rating Jefferies Group Buy $184.00 to $165.00
2016-05-10 Reiterated Rating Leerink Swann Outperform $175.00
2016-03-31 Reiterated Rating Leerink Swann Buy $175.00
2016-02-05 Lower Price Target BMO Capital Markets Outperform $167.00 to $165.00
2016-02-05 Lower Price Target Barclays Equal Weight $168.00 to $166.00
2016-01-24 Reiterated Rating Leerink Swann Outperform $175.00
2016-01-24 Reiterated Rating Sterne Agee CRT Buy
2016-01-08 Upgrade Jefferies Group Hold to Buy $146.00 to $184.00
2016-01-06 Boost Price Target Barclays Equal Weight $156.00 to $168.00
2015-11-10 Lower Price Target BMO Capital Markets $170.00 to $167.00
2015-11-09 Reiterated Rating Wedbush Hold $186.00 to $175.00
2015-11-09 Lower Price Target RBC Capital Sector Perform $182.00 to $172.00
2015-10-02 Initiated Coverage Citigroup Inc. Buy $174.00
2015-09-22 Reiterated Rating Cowen and Company Outperform $145.00 to $160.00
2015-09-16 Initiated Coverage JPMorgan Chase & Co. Overweight $175.00
2015-08-18 Lower Price Target RBC Capital Sector Perform $184.00 to $182.00
2015-08-02 Reiterated Rating Barclays Hold
2015-07-31 Boost Price Target Barclays Equal Weight $137.00 to $156.00
2015-07-27 Upgrade Sterne Agee CRT Neutral to Buy $190.00
2015-07-09 Boost Price Target Susquehanna Positive $155.00 to $184.00
2015-06-23 Initiated Coverage RBC Capital Sector Perform $184.00
2015-06-22 Boost Price Target Leerink Swann Outperform $150.00 to $160.00
2015-06-17 Boost Price Target Leerink Swann Outperform $160.00 to $175.00
2015-06-17 Reiterated Rating Deutsche Bank Buy $145.00 to $180.00
2015-06-17 Reiterated Rating Deutsche Bank AG Buy $145.00 to $180.00
2015-06-12 Set Price Target Wedbush Hold $140.00
2015-05-01 Boost Price Target Barclays Equal Weight $134.00 to $137.00
2015-04-16 Boost Price Target Oppenheimer Outperform $121.00 to $140.00
2015-04-16 Boost Price Target Oppenheimer Holdings Inc. Outperform $121.00 to $140.00
2015-03-20 Boost Price Target Barclays Equal Weight $120.00 to $134.00
2015-02-06 Boost Price Target JPMorgan Chase & Co. Overweight $123.00 to $128.00
2015-02-06 Boost Price Target Barclays Equal Weight $109.00 to $120.00
2015-01-20 Boost Price Target Jefferies Group Hold $99.00 to $113.00
2015-01-16 Upgrade Goldman Sachs Neutral to Buy
2015-01-16 Upgrade Goldman Sachs Group Inc. Neutral to Buy
2015-01-08 Boost Price Target Barclays Equal Weight $103.00 to $109.00
2015-01-07 Upgrade Goldman Sachs Neutral to Buy $113.00 to $117.00
2015-01-06 Reiterated Rating Deutsche Bank Buy $108.00 to $125.00
2014-11-18 Boost Price Target Bank of America Buy $114.00 to $120.00
2014-11-18 Boost Price Target Bank of America Corp. Buy $114.00 to $120.00
2014-10-31 Reiterated Rating Barclays Equal Weight $97.00 to $103.00
2014-10-31 Reiterated Rating Deutsche Bank Buy $105.00 to $108.00
2014-10-31 Reiterated Rating Oppenheimer Outperform $100.00 to $110.00
2014-10-31 Reiterated Rating Citigroup Inc. Neutral $83.00 to $98.00
2014-10-31 Reiterated Rating Credit Suisse Outperform to Outperform $105.00 to $109.00
2014-10-31 Reiterated Rating Credit Suisse Group AG Outperform to Outperform $105.00 to $109.00
2014-10-14 Downgrade Sterne Agee CRT Buy to Neutral $110.00
2014-10-07 Boost Price Target JPMorgan Chase & Co. Overweight $95.00 to $110.00
2014-09-17 Upgrade Susquehanna Neutral to Positive $77.00 to $115.00
2014-09-05 Reiterated Rating Credit Suisse Outperform $97.00 to $105.00
2014-08-04 Boost Price Target Leerink Swann $100.00 to $110.00
2014-08-01 Boost Price Target BMO Capital Markets $100.00 to $101.00
2014-08-01 Boost Price Target Oppenheimer $97.00 to $100.00
2014-08-01 Reiterated Rating Barclays Equal Weight $88.00 to $97.00
2014-07-16 Reiterated Rating Deutsche Bank Buy $95.00 to $105.00
2014-07-10 Reiterated Rating Jefferies Group Hold $93.00 to $98.00
2014-06-27 Initiated Coverage Sterne Agee CRT Buy $110.00
2014-06-03 Reiterated Rating JPMorgan Chase & Co. Overweight $96.00 to $95.00
2014-05-02 Boost Price Target Oppenheimer Outperform $94.00 to $97.00
2014-05-02 Reiterated Rating Barclays Equal Weight $88.00
2014-05-02 Boost Price Target Citigroup Inc. $79.00 to $83.00
2014-04-03 Boost Price Target Deutsche Bank Buy $90.00 to $93.00
2014-03-31 Boost Price Target JPMorgan Chase & Co. $93.00 to $96.00
2014-03-20 Reiterated Rating Deutsche Bank Buy
2014-03-07 Boost Price Target Jefferies Group $89.00
2014-02-14 Reiterated Rating Morgan Stanley Overweight $100.00 to $93.00
2014-02-10 Lower Price Target Deutsche Bank Buy $98.00 to $90.00
2014-02-10 Lower Price Target JPMorgan Chase & Co. $95.00 to $93.00
2014-02-10 Lower Price Target Barclays Equal Weight $93.00 to $86.00
2014-02-10 Reiterated Rating Jefferies Group Hold $87.00 to $86.00
2014-02-07 Downgrade Susquehanna Positive to Neutral $102.00 to $77.00
2014-01-08 Boost Price Target Barclays Equal Weight $87.00 to $93.00
2013-11-21 Initiated Coverage Morgan Stanley Overweight $100.00
2013-11-18 Initiated Coverage Leerink Swann Outperform $106.00
2013-11-05 Downgrade Monness Crespi & Hardt Buy to Neutral
2013-11-01 Boost Price Target Barclays Equal Weight $83.00 to $87.00
2013-11-01 Boost Price Target Jefferies Group Hold $85.00 to $87.00
2013-10-16 Reiterated Rating JPMorgan Chase & Co. Buy $87.00
2013-10-16 Boost Price Target Deutsche Bank Buy $87.00 to $94.00
2013-10-09 Reiterated Rating Susquehanna Positive $88.00 to $90.00
2013-10-08 Boost Price Target Deutsche Bank Buy $85.00 to $87.00
2013-09-24 Boost Price Target JPMorgan Chase & Co. Overweight $78.00 to $87.00
2013-08-01 Reiterated Cantor Fitzgerald Buy $84 to $92
2013-06-11 Reiterated Deutsche Bank Buy $77 to $80
2013-05-14 Reiterated Monness Crespi & Hardt Buy $70 to $84
2013-04-05 Initiated UBS Buy $76
2013-02-05 Upgrade Monness Crespi & Hardt Neutral to Buy $64 to $70
2016-07-08 Reiterated Rating Oppenheimer Holdings Inc. Outperform $149.00
2016-06-28 Initiated Coverage Wolfe Research Outperform $172.00
2016-06-28 Initiated Coverage Stifel Nicolaus Buy to Buy $122.09 to $169.00
2016-06-20 Reiterated Rating FBR & Co. Hold
2016-06-20 Reiterated Rating FBR & Co Hold

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Cordani David President & CEO 0.12%  (305006) CI / GIS /
Fritch Herbert A President, HealthSpring 0.11%  (284261) CI /
McCarthy Thomas A EVP, Chief Financial Officer 0.03%  (80531) CI /
MURABITO JOHN M EVP, HR & Services 0.02%  (65521) CI / WGO /
MARTINEZ ROMAN IV 0.02%  (46005) ATK / CI /
BOXER MARK L EVP, Chief Information Officer 0.02%  (43366) CI /
Manders Matthew G Pres. Regional & Operations 0.01%  (39395) CI /
ROGERS JAMES E 0.01%  (37749) AMAT / CI / DUK /
Guilmette David D Pres. Global Employer Segment 0.01%  (37150) CI /
Sadler Jason D Pres. Global Individual HL&A 0.01%  (36698) CI /
PARTRIDGE JOHN 0.01%  (31876) CI / GPN / V /
Jones Nicole S EVP, General Counsel 0.01%  (27185) CI /
Triplett Michael W President, US Markets 0.01%  (24071) CI /
ZARCONE DONNA F 0.01%  (21959) CDW / CI / JNY /
Bacus Lisa R EVP, Chief Marketing Officer 0.01%  (21200) CI / TDC /
MUNEY ALAN EVP Total Hlth & Network & CMO 0.01%  (16834) CI /
WISEMAN ERIC C 0.01%  (16546) CI / LOW / VFC /
HARRIS ISAIAH JR Chairman of the Board 0.01%  (15666) CI /
HENNEY JANE E MD 0.01%  (15165) ABC / CBST / CI /
SULLIVAN JOSEPH P 0.01%  (14586) CI / HCP /
FOSS ERIC J 0.01%  (13642) CI / UDR /
ZOLLARS WILLIAM D 0.01%  (13500) CERN / CI / PLD /

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