Cigna's 1Q Net Earnings Drop 10%

First quarter net income at health insurer Cigna (pdf) dropped 10 percent, from $413 million in 2011 to $371 million in 2012.

Cigna boosted its first quarter revenue by more than 25 percent to a total of $6.79 billion, but for the second straight quarter, the Connecticut-based health insurer had to absorb a $28 million after-tax charge related to its $3.8 billion acquisition of HealthSpring in January. Cigna also recorded an after-tax loss of $13 million related to an unnamed litigation matter.

Cigna raised its full-year 2012 earnings outlook, as it added 1.2 million people to its insurance rolls in the quarter ended March 31, 2012.

More Articles on Cigna:

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Cigna CEO's Compensation Rises 27% From Last Year

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