Chubb acquires Cigna's life, accident and supplementary health activities

chubbcignaChubb has signed an agreement with Cigna for the acquisition of its life, accident and supplementary health insurance activities in seven Asia Pacific countries for 5.75 billion USD.

The agreement covers the acquisition of Cigna's operations in Hong Kong, Indonesia, South Korea, New Zealand, Taiwan and Thailand, in addition to its participation in a joint venture in Turkey.

The transaction allows Cigna to focus on its healthcare portfolio and Chubb to strengthen its position in the region.

The transaction, subject to regulatory approval, is expected to be completed in 2022.

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