Cigna sells life business for $1.4bn
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Cigna Corp in the US is selling its individual life and annuity businesses to Lincoln National Corp for about $1.4bn (pounds 850m) in cash. The deal includes the sale of its Cigna's career agency system with 600 agents, life brokerage operations and an annuity distribution system. Its corporate-owned life insurance, group life insurance and life, health and accident reinsurance businesses are not part of the transaction.
Wilson Taylor, chief executive of CIGNA, said the individual life and annuity operations were "strong" but had limited strategic connection to the company's other businesses. Lincoln, a financial services company with $115bn in assets, provides annuities, life insurance, retirement income and life-health reinsurance.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments