Cigna reports higher second-quarter profit on low medical costs


Cigna Corp said on Thursday that second-quarter profit rose as medical costs were low and revenue increased from health insurance, supplemental benefit plans like dental and vision, and disability and life insurance.

The company reported net income of $505 million, or $1.76 per share, up from $380 million, or $1.31 per share, a year earlier.

Continue Reading Below

Excluding investment gains and a loss on its pharmacy benefit management contract, earnings were $1.78 per share.

(Reporting by Caroline Humer; Editing by Lisa Von Ahn)