Wednesday, April 7, 2010 as of 11:14 AM ET
CIGNA (pronounced sig-nuh), Inc., headquartered in Bloomfield, Connecticut, is a global Health Care Management Company, owing to its expanding international footprint and the fact that it provides administrative services only (not [Insurance]) to approximately 80 percent of its clients.
Read More at Wikipedia ›Cigna Corp.
(CI) has agreed to acquire American Financial Group Inc.'s (AFG) Medicare supplement and critical-illness businesses for approximately $295 million in cash, as the managed-care company looks to expand its presence in the individual and seniors markets.Cigna said its acquisition of Great American Supplemental Benefits Group, one of the largest manufacturers of supplemental health insurance products in the U.S., is expected to close in the second half of 2012.Great American generated approximately $325 million of revenue last year.Cigna said the acquisition will expand its individual supplemental offerings to customers in the U.S., bring scaled offerings to the seniors market and extend its direct-to-consumer retail channel.The deal comes after Cigna bought Medicare carrier HealthSpring Inc. in January for $3.8 billion. The HealthSpring acquisition represented a change in the balance of Cigna, which had primarily focused on employers but will now also be a major source of bot...
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