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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.
Cigna reaches agreement with Chubb, the property and casualty insurance company, to divest its life, accident, and supplemental benefits businesses in seven countries.
1999: CIGNA sells its domestic and international property and casualty operations to ACE Limited of Bermuda. Company History: CIGNA Corporation is an insurance and financial services organization focusing on employee benefits, with its healthcare operations being the largest of its units.
ACE acquires CIGNA P&C for $3.45 billion, thus entering 50 countries and transforming its business from specialty catastrophic risk to diversified property and casualty.
The Cigna Healthcare name, logo, and other Cigna Healthcare marks are owned by The Cigna Group Intellectual Property, Inc. All insurance policies and group benefit plans contain exclusions and limitations. For availability, costs and complete details of coverage, contact a licensed agent or Cigna Healthcare sales representative.
Reengineering was introduced at CIGNA Corp. in 1988. CIGNA entered a second wave reengineering effort through a major project at CIGNA P&C, one of CIGNA's larger businesses. P&C was in financial crisis and as a result brought in a new executive team in 1991 to head the transformation effort.
CIGNA Property and Casualty Reengineering (B) - Case - Faculty & Research - Harvard Business School.
