Cigna 2Q profit jumps 37 percent

Health insurer Cigna says its second-quarter profit rose 37 percent on a jump in premiums and fees as the company's acquisition of Great West Healthcare boosted membership.

NEW YORK —

Health insurer Cigna says its second-quarter profit rose 37 percent on a jump in premiums and fees as the company's acquisition of Great West Healthcare boosted membership.

Profit rose to $272 million, or 97 cents per share, from profit of $198 million, or 68 cents per share, during the same period a year ago. Excluding one-time gains and charges, the company earned $1.08 per share in the latest quarter.

Revenue rose 11 percent to $4.86 billion from $4.38 billion.

The results easily beat the average estimates of analysts polled by Thomson Financial, who forecast profit of 97 cents per share on revenue of $4.76 billion.

Cigna expects adjusted profit between $4.05 and $4.25 for the full year, while analysts expect $4.17 per share.

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