CIGNA Corp. has agreed to sell its U.S. individual and group life reinsurance and U.S. accidental death reinsurance businesses to Life Reassurance Corp. of America, a subsidiary of Swiss Reinsurance Co. CIGNA expects to receive cash consideration of roughly $170 million.
CIGNA will retain its other lines of reinsurance, including global accident, domestic health, specialty life and international life and health. However, these lines will be discontinued as CIGNA reviews the reserve assumptions for the liabilities associated with specialty life minimum death benefit contracts. While the charges resulting from this review could adversely affect operations results, CIGNA does not foresee them as being material to company liquidity or financial condition.
Topics Reinsurance
Was this article valuable?
Here are more articles you may enjoy.
Verisk: Insurance Claims Volume Fell to 5-Year Low in 2025 
Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model 
Convicted Insurance Mogul Lindberg Should Pay $1.6B Restitution to Companies 
Viewpoint: Why Brokers Have Little to Fear and Everything to Gain From AI 
