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Cigna reaches agreement with Chubb, the property and casualty insurance company, to divest its life, accident, and supplemental benefits businesses in seven countries.
Before selling its domestic and international property and casualty business to the Bermuda-based ACE Insurance company in the late 1990s, Cigna was among the companies with a large international network comparable to those of AIG, Allianz, and Zurich.
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A true turning point for ACE was its 1999 acquisition of Cigna Corporation’s international and domestic property and casualty business, the Insurance Company of North America (INA). The acquisition gave ACE an instant global network and simultaneously transferred INA’s 200-year history to the company.
11 de jun. de 2018 · For CIGNA, exiting from the property and casualty sector meant that CIGNA could focus even more strongly on its health, life, and pension operations. Despite the divestiture, CIGNA still had to contend with litigation arising from the 1996 reorganization.
1 de jul. de 2022 · Chubb Limited (NYSE: CB) today announced that it has completed its acquisition of the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of Cigna (NYSE: CI) in six Asia-Pacific markets.
