Insurer Cigna's 1Q Profit Soars 52 Percent
INDIANAPOLIS (AP) — Cigna Corp. said Thursday its first-quarter net income jumped 52 percent, as the managed care company saw earnings growth from its main businesses and raised its 2011 profit forecast.
The Philadelphia insurer earned $429 million, or $1.57 per share, in the three months that ended March 31. That's up from the $283 million, or $1.02 per share, last year. Revenue climbed 4 percent to $5.41 billion from $5.21
Cigna's performance follows a trend set by other big health insurers during the first quarter. UnitedHealth Group Inc., WellPoint Inc., Aetna Inc. and Humana Inc. have already reported earnings that beat Wall Street expectations and raised their 2011 forecasts.
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