Cigna reported a 24 percent increase in net income during the third quarter of fiscal year 2017, following a string of national insurers posting strong third quarter results.
Here are four things to know about Cigna's financial performance.
1. Cigna saw revenue increase 5 percent to $10.4 billion in the third quarter ended Sept. 30. This is up from $9.9 billion in the same period a year prior. The payer attributed the gains to continued growth in its targeted customer segments.
2. At the same time, Cigna saw expenses rise to $9.6 billion in the third quarter of 2017, up from $9.1 billion in the same period a year prior.
3. Cigna achieved net income of $562 million in the third quarter of this year, up from $452 million in the third quarter of 2016.
4. The payer also trimmed its medical loss ratio, or the amount it pays directly toward medical claims. Cigna's MLR decreased from 79.4 percent in the third quarter of 2016 to 78.6 percent in the same period this year.