CIGNA Net Rises As Enrollment Falls

Health plan membership continued to drop at CIGNA Corp. in the second quarter, but the company still produced a big increase in profits.[@@]

CIGNA, Philadelphia, is reporting $720 million in net income for the latest quarter on $4.1 billion in billion, compared with $504 million in net income on $4.6 billion in revenue for the second quarter of 2004.

A sharp decrease in investments sold, written down or written off during the quarter cut $413 million from net income, and health plan enrollment fell 10%, to 9 million, CIGNA says.