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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.
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.
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.
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7 de oct. de 2021 · ZURICH, Oct. 7, 2021 /PRNewswire/ -- Chubb Limited (NYSE: CB) today announced a definitive agreement to acquire the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of Cigna (NYSE: CI) in seven Asia-Pacific markets for $5.75 billion dollars in cash.
INA became CIGNA's lead property and casualty (P&C) insurer, integrating its business with CGC's smaller P&C firm Aetna Insurance Company. Effective July 2, 1999, ACE Limited acquired CIGNA's international and U.S. property and casualty businesses, including INA.
