Cigna Corp.

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Divestitures / Spin-offs, Mergers / Acquisitions

Cigna Reaches Agreement With Chubb To Sell Life, Accident And Supplemental Benefits Businesses In 7 Countries For $5.75 Bln Dollars

Published: 10/08/2021 01:27 GMT
Cigna Corp. (CI) - Press Release - Cigna Reaches Agreement With Chubb to Divest Its Life, Accident and Supplemental Benefits Businesses in Seven Countries.
Cigna - Definitive Agreement With Chubb to Sell Its Life, Accident and Supplemental Benefits Businesses in Seven Countries for $5.75 Billion Dollars.
Transaction is Expected to Be Completed in 2022.
Impact of Transaction is Expected to Be Neutral to Slightly Dilutive to Cigna's Earnings per Share in 2022.
Cigna - Chubb Will Buy Cigna's Life, Accident and Supplemental Benefits Businesses in Hong Kong, Indonesia, Korea, New Zealand, Taiwan and Thailand.
Cigna-in Korea, Chubb to Acquire and Plans to Continue to Operate Business Under the Lina Korea (life Insurance Company of North America Korea) Brand.
Impact of the Transaction is Expected to Be Neutral to Slightly Dilutive to Cigna's Earnings per Share in 2022.
Cigna-transaction is Not Subject to a Financing Condition and Cigna Expects to Realize About $5.4 Billion of Net After-tax Proceeds From This Transaction.
Upon Completion of the Transaction, Chubb Will Acquire Cigna's Interest in a Joint Venture in Turkey.