The acquisition marks Cigna’s expansion into the United Arab Emirates, Lebanon, Kuwait and Oman. The acquired entity will be named “Zurich Insurance Middle East, A Cigna-owned company” to adhere with regulatory compliance, but will take on a Cigna-branded name after the deal is finalized.
Cigna currently offers group health plans to small businesses in the Middle East. The acquired company will expand Cigna’s offerings to individuals, employers and government agencies in the region.
Cigna appointed Arthur Cozad, former CEO of Cigna Taiwan, as CEO for its Middle East business.
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