Cigna sells its life and group benefits businesses

Cigna Life InsuranceThe American group Cigna sells its group life and group benefits businesses to New-York Life Insurance (NLI), the leading American mutual insurer. The transaction, concluded for 6.3 billion USD, enables NLI to expand its portfolio with millions of new policyholders.

This transaction also allows Cigna to put an end to non-strategic activities and focus on its main activity that is health insurance. Another advantage, is that the operation allows Cigna to reduce its debt which has sharply increased after the purchase in December, 2018 of Express Scripts (healthcare manager) for 67 billion USD.

Read also | American insurance market

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