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Cigna Q3 revenues rises

Cigna has reported a consolidated revenues of $5.3bn for the third quarter of 2010, compared to $4.5bn for same quarter of the previous year.

The company has reported a net income of $307m, or $1.13 per share, for the third quarter of 2010, compared to $329m, or $1.19 per share, for the same period last year.

Cigna has said that the shareholders’ net income in the third quarter of 2010 included losses of $44m, from results for the Guaranteed Minimum Death Benefits (VADBe) and Guaranteed Minimum Income Benefits (GMIB) businesses.

Cigna president and CEO David Cordani said, this quarter’s continued business growth is a result of strong customer retention, expansion of existing relationships and new business sales in the targeted market segments and geographies.

“We continue to drive innovation by developing new products and designing new provider relationships to increase engagement among health care professionals and consumers, which in turn improves health and well-being,” Cordani said.