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Cigna expects to back nonprofit, membership perspective

 

Wednesday, Sep 02,2009, 10:49:51 AM   Click:

NEW YORK_Health insurer Cigna Corp. said Monday it expects to maintain its 2009 adjusted profit and enrollment forecasts in discussions with Wall Street this week.

The Philadelphia company said it will back its forecast of $1.04 billion to $1.1 billion in adjusted profit, and its estimate that enrollment will fall between 5 and 5.5 percent for the year. The company had about 11.7 million members at the start of 2009.

The profit forecast assumes the company's variable annuity death benefits difference will be roughly break-even for the last six months of this year. Cigna said it will be discussing its outlook with analysts and investors for the rest of this week. The forecast was disclosed in a filing with the Securities and Exchange Commission.

At the end of July, Cigna called for an adjusted profit of $3.80 to $4 per share this year. Analysts now expect $3.85 per share, according to Thomson Reuters.

The company's shares fell 24 cents to $29.43 before the filing.

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