Cigna acquiring Great American Supplemental Benefits
Great American Supplemental Benefits Group, one of the largest manufacturers, distributors, and marketers of supplemental health insurance products in the United States, is being acquired by Cigna Corporation for around $295 million in cash
Great American Supplemental Benefits Group, one of the largest manufacturers, distributors, and marketers of supplemental health insurance products in the United States, is being acquired by Cigna Corporation for around $295 million in cash.
In a press statement, Cigna cited the ability to expand its U.S. presence in individual and Medicare segments as a primary reason for the acquisition. It will also allow the company to extend its direct-to-consumer retail channel and distribution network.
Reuters reports that the group’s current owner, American Financial, expects an after-tax gain of $95 million to $105 million from the sale.
The transaction is expected to close during the second half of 2012.
Go back to the Managed Healthcare Executive eNews newsletter.
Breaking Down Health Plans, HSAs, AI With Paul Fronstin of EBRI
November 19th 2024Featured in this latest episode of Tuning In to the C-Suite podcast is Paul Fronstin, director of health benefits research at EBRI, who shed light on the evolving landscape of health benefits with editors of Managed Healthcare Executive.
Listen
In this latest episode of Tuning In to the C-Suite podcast, Briana Contreras, an editor with MHE had the pleasure of meeting Loren McCaghy, director of consulting, health and consumer engagement and product insight at Accenture, to discuss the organization's latest report on U.S. consumers switching healthcare providers and insurance payers.
Listen
FDA Clears Phase 2 Trial of Cannabis in PTSD
November 20th 2024After a three-year negotiation, the FDA has dropped its objection to allowing patients to self-titrate dosing of smoked cannabis. But regulators want to see additional information about the device that will be used for inhalation.
Read More
