Cigna may sell $6B group insurance unit

Cigna is considering selling its group benefits insurance arm, which may be valued as high as $6 billion, according to Reuters.

Four people familiar with the issue spoke to Reuters anonymously, as the matter is confidential. The unit Cigna is exploring a sale for offers disability insurance, as well as life and accidental death and dismemberment coverage.

Cigna's decision to potentially spin off the business comes as the insurer turns a greater focus toward healthcare after its acquisition of pharmacy benefits manager Express Scripts.

A Cigna spokesperson told Reuters, "Given the dynamic marketplace, we continually review opportunities to ensure we continue to deliver value to our customers and clients."

Read the full report here.

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