July 6, 2022
  • Last week Cigna closed the divestiture of its life, accident, and supplemental benefits business in Asia to Chubb in a deal valued at $5.4 billion. The divestiture covers assets across six markets in the Asia-Pacific region. Cigna said it plans to use the proceeds primarily for share repurchase and, with $3.5 billion backing, an accelerated share repurchase that it announced in mid-June. The insurer said it is on track to repurchase at least $7 billion in shares this year. (Press release here)