CIGNA Expects to Hit Financial Targets for 2010

Posted on Sep 15, 2010 by Sergio Ulloa (G+)  | Tags: Morgan Stanley Global Healthcare Conference, New York

CIGNA Corp., the Philadelphia-based healthcare service provider, has announced at the Morgan Stanley Global Healthcare Conference in New York that it expects to meet its forecast consolidated adjusted income from operations as per estimates for the whole of 2010, currently set at between US$1.13 billion (EUR 869.2 million) to US$1.21 billion (EUR 931 million). Included in the forecast by CIGNA for the full year 2010 are the results of Guaranteed Minimum Death Benefits, which are expected to reach a break-even level. However, CIGNA sounded a note of caution on reaching their targets, depending upon economic volatility and persistent low levels of interest rates, since these unpredictable factors would call for an increase in reserves, producing losses in the second half of 2010 to cover these benefits. Under the category of special items for 2010, CIGNA may include items such as potential adjustments related to cost reduction, litigation and taxes. Other than these special items, at present CIGNA doesn't have additional information available to reasonably identify or estimate any more than these items for the full year 2010. In its 8th annual chapter, the Morgan Stanley Global Healthcare Conference aims to contribute towards the visionary goals set back in 1935, defining the company as the pre-eminent financial advisor to companies, governments and investors from around the world. Insurance Company mentioned: CIGNA A global health service company dedicated to helping people improve their health, well being and sense of security. CIGNA Corporation's operating subsidiaries provide an integrated suite of medical, dental, behavioural health, pharmacy and vision care benefits, as well as group life, accident and disability insurance, to approximately 46 million people throughout the United States and around the world.