Cigna's profit tops estimates on higher enrollments

Published November 02, 2017
Reuters

Health insurer Cigna reported a better-than-expected quarterly profit, helped by higher enrollments and strength in its commercial business.

Cigna focuses on large and medium-sized corporate healthcare and sells international insurance as well as government-backed Medicare plans.

The company's net income rose to $560 million, or $2.21 per share, in the third quarter ended Sept. 30, from $456 million, or $1.76 per share, a year earlier.

Excluding items, the company earned $2.83 per share, above the average analyst estimate of $2.36, according to Thomson Reuters I/B/E/S.

Total revenue increased 5 percent to $10.4 billion.

Cigna's membership rose to 15.8 million, as of Sept. 30, from 15.2 million a year earlier.

 

(Reporting by Ankur Banerjee in Bengaluru; Editing by Saumyadeb Chakrabarty)