Cigna may sell $6B group insurance unit

Cigna is considering selling its group benefits insurance arm, which may be valued as high as $6 billion, according to Reuters.

Four people familiar with the issue spoke to Reuters anonymously, as the matter is confidential. The unit Cigna is exploring a sale for offers disability insurance, as well as life and accidental death and dismemberment coverage.

Cigna's decision to potentially spin off the business comes as the insurer turns a greater focus toward healthcare after its acquisition of pharmacy benefits manager Express Scripts.

A Cigna spokesperson told Reuters, "Given the dynamic marketplace, we continually review opportunities to ensure we continue to deliver value to our customers and clients."

Read the full report here.

More articles on payers:
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Tufts Health Plan, Harvard Pilgrim to merge 8 years after failed deal

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