Cigna’s Charges Climb to $1 Billion
- Share via
Reuters
Cigna Corp. said it will take a charge to cover losses stemming from reinsurance contracts, adding up to more than $1 billion in charges the company will take against third-quarter earnings.
The $315-million charge comes on top of a $720-million charge it warned of last month, also related to its business of selling insurance to other insurers.
Cigna shares closed up $2.81 at $63.20 on the NYSE on investor relief that the charge was not higher.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
