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CIGNA shareholders see 52 percent increase in first quarter income Posted: May 5th, 2011

By Maryalene LaPonsie

With consolidated revenues of $5.4 billion, CIGNA has announced that its 2011 first quarter profits rose 52 percent over 2010 levels. The company, which offers health, life and disability insurance products, released its first quarter financial report on May 5.

While all product lines saw growth, the sharpest increase came from CIGNA's international market. The segment includes health, life and accident and expatriate benefits products. Overall, international products experienced 32 percent growth in the first quarter of 2011.

Meanwhile, domestic health insurance products grew by 6 percent. The company saw modest growth in its medical membership while the number of subscribers in its pharmacy plans decreased slightly. CIGNA also offers health care plans that provide behavioral health, dental and Medicare Part D coverage. Together, the business paid health care claims of $1.03 billion from Jan. 1 to March 31.

The final segment of CIGNA, disability and life insurance, grew by 9 percent. In light of the first quarter results, CIGNA adjusted its full year earnings estimate for 2011 to between $1.28 billion and $1.36 billion. Earnings per share are now expected to be $4.65 to $5.00 for 2011.