Cigna

 Cigna Corporation, a global health service company, was created through a series of mergers and acquisitions over several decades. Its origins go back to the early 20th century, but its current form emerged more significantly in the 1980s and 2000s. Here's a breakdown of how Cigna was created:

1. Early Beginnings: The Connecticut General Life Insurance Company (CIGNA’s Predecessor)

• 1919: The roots of Cigna can be traced back to the founding of the Connecticut General Life Insurance Company (CG) in 1919 in Hartford, Connecticut. CG was initially focused on offering life insurance products, and over time, it expanded into health and accident insurance as part of its portfolio.

2. Expansion into Health Insurance and the Formation of Cigna (1980s)

• 1982: Connecticut General Life Insurance Company merged with Insurance Company of North America (INA), a large insurance company with a focus on life, health, and accident insurance. This merger created Cigna Corporation in 1982.
• The new company was named Cigna, which was derived from combining parts of the words "Connecticut" and "General."
• Cigna began to diversify its offerings, including health insurance, employee benefits, and other financial products. The merger enabled the company to expand its product lines and customer base across a variety of insurance sectors.

3. Further Expansion and Acquisitions (1990s–2000s)

• During the 1990s, Cigna continued to expand its presence in the health insurance market. The company made significant acquisitions to strengthen its position as a leader in the health and life insurance industries.
• 1996: Cigna acquired Healthsource, a major health insurance company, significantly expanding its health insurance services, particularly in the managed care segment.
• 2000: Cigna further expanded by acquiring Connecticut Mutual Life Insurance and other smaller companies, allowing it to broaden its service offerings in both life and health insurance.

4. Focus on Health Insurance and Global Expansion

• In the 2000s, Cigna increasingly focused on expanding its global health insurance and employee benefits services, becoming one of the largest providers of health insurance in the world.
• The company also entered international markets, including Asia, Europe, and Latin America, offering health insurance to both individuals and businesses.

5. Repositioning and Acquisitions in the 2010s

• 2010s: Cigna restructured and repositioned itself as a leading global health service provider, focusing on offering healthcare plans, wellness programs, and health management solutions.
• In 2012, Cigna acquired HealthSpring, a leading Medicare Advantage organization, which helped it increase its presence in the Medicare market.
• 2015: Cigna acquired The HealthCare Service Corporation’s (HCSC) group’s Medicare Advantage business, further strengthening its position in the Medicare and government programs space.

6. Acquisition of Express Scripts (2018)

• 2018: One of the largest moves in Cigna’s history came with the acquisition of Express Scripts, a leading pharmacy benefit management (PBM) company. The $67 billion deal significantly increased Cigna’s presence in managing prescription drug benefits, expanding its offerings beyond traditional health insurance.
• This acquisition allowed Cigna to provide more integrated services across the healthcare continuum, from health insurance to prescription management and pharmacy benefits.

7. Recent Developments

• Cigna continues to be a leader in the global health insurance market, offering a broad range of products, including individual health plans, group insurance, and dental and vision insurance.
• The company has also focused on expanding its role in managing health outcomes and wellness, moving toward a more patient-centered approach that includes programs for managing chronic conditions and providing preventative care.

Summary

Cigna was originally founded in 1919 as the Connecticut General Life Insurance Company, and it evolved through a series of mergers, particularly with the Insurance Company of North America (INA) in 1982, forming the company name Cigna. Over the decades, Cigna expanded into health insurance and diversified its offerings, growing significantly through acquisitions like Healthsource (1996) and HealthSpring (2012). In 2018, Cigna made a major acquisition by purchasing Express Scripts, a pharmacy benefit management company, which expanded its reach across healthcare services. Today, Cigna is a global leader in healthcare insurance and services.