NU Online News Service, Aug. 2, 11:10 a.m. –CIGNA Corp., Philadelphia, is reporting $214 million in net income for the second quarter on $5 billion in revenue, compared with $252 million in net income on $4.7 billion in revenue for the second quarter of 2001.
Operating results for the latest quarter, which exclude $104 million in losses on investments sold or written off during the quarter, fell to $281 million, from $284 million.
CIGNA now sells group major medical and other employee benefits; employee retirement benefits and investment services; and international employee benefits.
Health: The health benefits unit increased its operating income to $228 million, from $204 million, and ended the quarter providing or administering major medical coverage for 14 million people, about as many people as it covered a year earlier.
The average major medical premium and fee revenue per major medical member increased 10%, to $652.