Cigna Corporation (NYSE: CI) today reported third quarter 2012 consolidated revenues of $7.4 billion, an increase of 31% over the third quarter of 2011. Revenues reflect growth in premiums and fees of 51% in Health Care, 22% in International and 9% in Disability and Life, primarily driven by contributions from the HealthSpring acquisition and continued organic growth in our targeted customer segments.
Cigna’s adjusted income from operations
for the third quarter of 2012 was $496 million, or $1.71 per share, excluding the after-tax loss of $7 million, or $0.02 per share, from results of the VADBe
business. This result compares with $353 million, or $1.29 per share, excluding the after-tax loss of $45 million, or $0.16 per share, from results of the VADBe
business, for the third quarter of 2011.
Cigna reported shareholders’ net income
of $466 million, or $1.61 per share, for the third quarter of 2012, compared with shareholders’ net income
of $183 million, or $0.67 per share, for the third quarter of 2011. Shareholders’ net income
included income of $0.11 per share in the third quarter of 2012 and a loss of $0.50 per share for the same period last year related to the Guaranteed Minimum Income Benefits (GMIB)
business. Shareholders’ net income
also included special items
which generated a loss of $62 million, or $0.21 per share, in the third quarter of 2012.
“Our differentiated approach to understanding and helping our global clients and customers as well as partnering with physicians continues to deliver real value. Our third quarter 2012 results were strong, driven by consistent and disciplined execution of our strategy," said David M. Cordani, President and Chief Executive Officer. “We continue to make strategic investments to position Cigna to deliver long-term value for the benefit of our customers and shareholders."