Cigna reported strong results in the second quarter of fiscal year 2018.
The health insurer saw operating revenues climb 11 percent to $11.5 billion, compared to $10.4 billion reported in the same period a year prior. Cigna attributed the gains in part to growth in its global healthcare and supplemental benefits segments, as well as higher premiums.
At the same time, Cigna saw its expenses grow 12 percent to $10.4 billion, up from $9.3 billion in the same quarter a year prior.
Cigna ended the quarter with net income of $806 million, down 1 percent from $813 million reported in the same period of 2017.
However, the health insurer faces opposition for its proposed $54 billion takeover of Express Scripts. On Aug. 1, The Wall Street Journal revealed Carl Icahn, an activist investor, intends to vote against the deal. Cigna CEO David Cordani told analysts during an Aug. 2 earnings call that the deal is in the interest of shareholders.
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