Cigna earnings rise 15%
Cigna Corp. reported a 15 percent increase in earnings for the third quarter of 2006, citing strong performance in its health-care business segment.
Cigna closed the quarter ended Sept. 30 with net income of $298 million, or $2.75 per share, compared to $259 million, or $2 per share, for the same quarter a year ago.
Consolidated revenues rose slightly to $4.1 billion in the third quarter of 2006, over $4 billion for the third quarter of 2005.
Plan membership, which had been somewhat stagnant over previous quarters, grew in the third quarter by 255,000 to 9,321,000 members, vs. 9,066,000 members in the third quarter of 2005, an increase of 2.8 percent. The growth was primarily due to the June acquisition of Star HRG, a North Richland Hills, Texas-based provider of limited, voluntary health plans.
As of May, Cigna in New Hampshire had approximately 160,000 members. CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW