Edgar Filing: CIGNA CORP

cigna8k.htm

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) January 24, 2013

Cigna Corporation

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

1-08323

(Commission File Number)

06-1059331

(IRS Employer

Identification No.)

900 Cottage Grove Road

Bloomfield, Connecticut 06002

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code:

(860) 226-6000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Title		Page

Item 7.01	Regulation FD	1
	Financial Schedules – Segment results:
	Years Ended December 31, 2011 and 2010:
	Global Health Care and Global Supplemental Benefits	3
	Group Disability and Life and Updated Consolidated Income Statement	4
	Global Health Care:
	First Three Quarters and Nine Months Ended September 30, 2012	5
	Four Quarters of 2011	6
	Global Supplemental Benefits:
	First Three Quarters and Nine Months Ended September 30, 2012	7
	Four Quarters of 2011	8
	Group Disability and Life:
	First Three Quarters and Nine Months Ended September 30, 2012	9
	Four Quarters of 2011	10
	Consolidating Statement of Income – Nine Months Ended September 30, 2012	11
	Consolidating Statement of Income – Year Ended December 31, 2011	12
	Signature	14

Basis of Presentation:

All dollar amounts are in millions, unless otherwise noted. Certain reclassifications have been made to conform prior period results to the current presentation.

Cigna measures the financial results of its segments using "segment earnings (loss)," which is defined as shareholders' income (loss) before net realized investment gains (losses). Adjusted income (loss) from operations is defined as segment earnings excluding special items and results of Cigna's guaranteed minimum income benefit business. Adjusted income (loss) from operations is a measure of profitability used by Cigna's management because it presents the underlying results of operations of Cigna's businesses and permits trend analysis. These measures are not determined in accordance with generally accepted accounting principles (GAAP) and should not be viewed as a substitute for shareholders’ net income determined in accordance with GAAP.

ITEM 7.01 Regulation FD Disclosure.

Cigna is a global health services organization that provides medical, dental, disability, life and accident insurance and related products and services to customers in the United States and selected international markets. This Current Report on Form 8-K (“Form 8-K”) announces certain changes to the Company’s reporting segments, commencing with the earnings release for the fourth quarter of 2012 that is scheduled to be issued on February 7, 2013. The information contained in this Form 8-K is being furnished to assist investors in understanding how Cigna's business segment results would have been presented in previously filed reports had such results been reported to reflect the realignment described below.

The primary segment reporting change is that the two businesses that comprised the former International segment (international health care and supplemental health, life and accident) are now reported as follows:

·	substantially all of the international health care business (comprised primarily of the global health benefits business) is now combined with the former Health Care segment and renamed Global Health Care; and

·	the supplemental health, life and accident business becomes a separate reporting segment named Global Supplemental Benefits.

The segment reporting changes reflect the Company’s realignment of its businesses to better leverage distribution and service delivery capabilities for the benefit of our global clients and customers. Management believes the realignment of its businesses will enable the Company to more effectively address global health services challenges by leveraging best practices across geographies to improve the health, well being and sense of security of the global customers that the Company serves. The changes in the Company’s internal financial reporting structure to support this realignment took effect on December 31, 2012 and result in changes to our external reporting segments. The Company’s results are now aggregated based on the nature of the Company’s products and services, rather than its geographies.

While reclassifications within certain captions in the consolidated statements of income and consolidated balance sheets have occurred primarily as a result of these segment changes, there is no change to historically reported consolidated shareholders’ net income, earnings per share, adjusted income from operations or shareholders’ equity. Beginning with the fourth quarter of 2012, the Company will report its results in the reporting segments as described below.

Global Health Care includes the aggregation of the following two operating segments:

The Commercial operating segment offers insured and self-insured medical, dental, behavioral health, vision, and prescription drug benefit plans, health advocacy programs and other products and services that may be integrated to provide comprehensive global health care benefit programs to employers and their employees, including expatriates and other globally mobile individuals. Cigna offers these products and services in all 50 states, the District of Columbia, the U.S. Virgin Islands, Canada, Europe, the Middle East, and Asia. Cigna services its expatriate and globally mobile customers virtually everywhere in the world.

The Government operating segment primarily offers Medicare Advantage plans to seniors in 13 states and the District of Columbia, Medicare Part D plans in all 50 states and the District of Columbia and Medicaid plans and includes the business associated with the January 2012 acquisition of HealthSpring, Inc.

Global Supplemental Benefits includes supplemental health, life and accident insurance products offered in the U.S. and foreign markets, primarily in Asia as well as Medicare supplemental coverage following the 2012 acquisition of Great American Supplemental Benefits.

Group Disability and Life represents group disability, life and accident insurance products, including certain disability and life insurance business previously reported in the former Health Care segment.

In addition, the Company continues to report results in three other categories (Run-off Reinsurance, Other Operations and Corporate) that were not impacted by the segment reporting changes described above.

For those segments impacted by these changes, prior period results for the first three quarters and nine months of 2012, the four quarters and full year 2011, and full year 2010 are presented on the old and new segment basis in the following tables.

Cigna's Investor Relations Department will be hosting a conference call this morning, beginning at 9:00 a.m. ET to describe the segment reporting changes and answer questions on this topic. The call-in numbers for the conference call are as follows:

Live Call:	Toll Free Dial-In Number:	1-800-619-9569
	Toll Dial-In Number:	1-517-623-4948
	Participant Passcode:	999363

Replay:	Toll Free Number:	1-866-418-8382
	Toll Dial-In Number:	1-203-369-0752

It is strongly suggested you dial in to the conference call by 8:45 a.m. ET. The operator will periodically provide instructions regarding the call.

Cigna Corporation
Segment results - Global Health Care and Global Supplemental Benefits
Years Ended December 31, 2011 and 2010
(unaudited)



	Years Ended
	December 31, 2011							December 31, 2010
Global Health Care, compared with		Health Care						Health Care
Amounts previously reported in Health Care		As previously			Global			As previously		Global
(Dollars in millions)		Reported			Health Care			Reported		Health Care
Revenues:
Premiums and fees		$	13,181		$	14,443		$	13,319	$	14,134
Net investment income			274			263			243		230
Mail order pharmacy revenues			1,447			1,447			1,420		1,420
Other revenues			234			236			266		269
Segment revenues			15,136			16,389			15,248		16,053
Benefits and Expenses:
Global Health Care medical claims expense			8,182			9,125			8,570		9,222
Other benefit expenses			83			-			100		-
Mail order pharmacy cost of goods sold			1,203			1,203			1,169		1,169
Operating expenses			4,121			4,340			4,072		4,202
Benefits and expenses			13,589			14,668			13,911		14,593
Income before income taxes			1,547			1,721			1,337		1,460
Income taxes			556			616			476		520
Segment earnings			991			1,105			861		940
Less: Special item(s), after-tax			1			1			-		-
Adjusted income from operations		$	990		$	1,104		$	861	$	940


	Years Ended
	December 31, 2011							December 31, 2010
Global Supplemental Benefits, compared with		International			Global			International		Global
Amounts previously reported in International		As previously			Supplemental			As previously		Supplemental
(Dollars in millions)		Reported			Benefits			Reported		Benefits
Revenues:
Premiums and fees		$	2,990		$	1,528		$	2,268	$	1,231
Net investment income			96			83			82		69
Other revenues			17			15			25		22
Segment revenues			3,103			1,626			2,375		1,322
Benefits and Expenses:
Other benefit expenses			1,697			754			1,255		603
Operating expenses excluding special item(s)			1,082			734			846		589
Special item(s)			4			4			-		-
Benefits and expenses			2,783			1,492			2,101		1,192
Income before income taxes			320			134			274		130
Income taxes			100			36			93		42
Income attributable to noncontrolling interest			1			1			4		4
Segment earnings			219			97			177		84
Less: Special item(s), after-tax			(3	)		(3	)		-		-
Adjusted income from operations		$	222		$	100		$	177	$	84

Cigna Corporation
Segment results - Group Disability and Life, and Updated Consolidated Income Statement
Years Ended December 31, 2011 and 2010
(unaudited)



	Years Ended
	December 31, 2011					December 31, 2010
		As				As
Group Disability and Life		Previously				Previously
(Dollars in millions)		Reported		As revised		Reported		As revised
Revenues:
Premiums and fees		$	2,780	$	2,857	$	2,667	$	2,770
Net investment income			267		291		261		287
Other revenues			-		-		123		123
Segment revenues			3,047		3,148		3,051		3,180
Benefits and Expenses:
Other benefit expenses			2,003		2,086		1,935		2,035
Operating expenses			648		654		705		713
Benefits and expenses			2,651		2,740		2,640		2,748
Income before income taxes			396		408		411		432
Income taxes			109		113		120		127
Segment earnings			287		295		291		305
Less: Special item(s), after-tax			5		5		-		-
Adjusted income from operations		$	282	$	290	$	291	$	305


	Years Ended
	December 31, 2011					December 31, 2010
Consolidated		As				As
		Previously				Previously
(Dollars in millions)		Reported		As revised		Reported		As revised
Revenues:
Premiums and fees		$	19,089	$	18,966	$	18,393	$	18,274
Net investment income			1,146		1,146		1,105		1,105
Mail order pharmacy revenues			1,447		1,447		1,420		1,420
Other revenues, including run-off reinsurance hedge results			244		244		254		254
Net realized investment gains			62		62		75		75
Total revenues			21,988		21,865		21,247		21,128
Benefits and Expenses:
Global Health Care medical claims expense			8,182		9,125		8,570		9,222
Other benefit expenses			4,308		3,365		3,663		3,011
Mail order pharmacy cost of goods sold			1,203		1,203		1,169		1,169
Guaranteed minimum income benefits (income) expense			234		234		55		55
Operating expenses excluding special item(s)			6,137		6,014		5,898		5,779
Special item(s)			48		48		90		90
Benefits and expenses			20,112		19,989		19,445		19,326
Income before income taxes			1,876		1,876		1,802		1,802
Income taxes			615		615		519		519
Net income			1,261		1,261		1,283		1,283
Less: Income attributable to noncontrolling interest			1		1		4		4
Shareholders' net income		$	1,260	$	1,260	$	1,279	$	1,279

Cigna Corporation
Segment results - Global Health Care
First Three Quarters and Nine Months Ended September 30, 2012
(unaudited)

	Three Months Ended
	March 31, 2012							June 30, 2012
Global Health Care, compared with		Health Care						Health Care
Amounts previously reported in Health Care		As previously			Global			As previously			Global
(Dollars in millions)		Reported			Health Care			Reported			Health Care
Revenues:
Premiums and fees		$	4,501		$	4,869		$	5,008		$	5,398
Net investment income			68			66			63			61
Mail order pharmacy revenues			386			386			402			402
Other revenues			50			51			56			59
Segment revenues			5,005			5,372			5,529			5,920
Benefits and Expenses:
Global Health Care medical claims expense			3,037			3,316			3,405			3,707
Other benefit expenses			19			-			17			-
Mail order pharmacy cost of goods sold			321			321			330			330
Operating expenses excluding special item(s)			1,216			1,271			1,252			1,302
Special item(s)			31			31
Benefits and expenses			4,624			4,939			5,004			5,339
Income before income taxes			381			433			525			581
Income taxes			139			157			193			213
Segment earnings			242			276			332			368
Less: Special item(s), after-tax			(20	)		(20	)		-			-
Adjusted income from operations		$	262		$	296		$	332		$	368


	Three Months Ended							Nine Months Ended
	September 30, 2012							September 30, 2012
Global Health Care, compared with		Health Care						Health Care
Amounts previously reported in Health Care		As previously			Global			As previously			Global
(Dollars in millions)		Reported			Health Care			Reported			Health Care
Revenues:
Premiums and fees		$	4,922		$	5,307		$	14,431		$	15,574
Net investment income			66			64			197			191
Mail order pharmacy revenues			401			401			1,189			1,189
Other revenues			62			63			168			173
Segment revenues			5,451			5,835			15,985			17,127
Benefits and Expenses:
Global Health Care medical claims expense			3,269			3,561			9,711			10,584
Other benefit expenses			15			-			51			-
Mail order pharmacy cost of goods sold			324			324			975			975
Operating expenses excluding special item(s)			1,245			1,298			3,713			3,871
Special item(s)			60			65			91			96
Benefits and expenses			4,913			5,248			14,541			15,526
Income before income taxes			538			587			1,444			1,601
Income taxes			193			210			525			580
Segment earnings			345			377			919			1,021
Less: Special item(s), after-tax			(39	)		(42	)		(59	)		(62	)
Adjusted income from operations		$	384		$	419		$	978		$	1,083

Cigna Corporation
Segment results - Global Health Care
Four Quarters of 2011
(unaudited)

	Three Months Ended
	March 31, 2011					June 30, 2011
Global Health Care, compared with		Health Care				Health Care
Amounts previously reported in Health Care		As previously		Global		As previously		Global
(Dollars in millions)		Reported		Health Care		Reported		Health Care
Revenues:
Premiums and fees		$	3,311	$	3,614	$	3,295	$	3,613
Net investment income			67		63		67		65
Mail order pharmacy revenues			339		339		349		349
Other revenues			69		70		67		66
Segment revenues			3,786		4,086		3,778		4,093
Benefits and Expenses:
Global Health Care medical claims expense			2,077		2,301		2,034		2,269
Other benefit expenses			24		-		21		-
Mail order pharmacy cost of goods sold			276		276		289		289
Operating expenses			1,025		1,081		996		1,050
Benefits and expenses			3,402		3,658		3,340		3,608
Income before income taxes			384		428		438		485
Income taxes			137		152		158		175
Segment earnings			247		276		280		310
Less: Special item(s), after-tax			1		1		-		-
Adjusted income from operations		$	246	$	275	$	280	$	310


	Three Months Ended
	September 30, 2011					December 31, 2011
Global Health Care, compared with		Health Care				Health Care
Amounts previously reported in Health Care		As previously		Global		As previously		Global
(Dollars in millions)		Reported		Health Care		Reported		Health Care
Revenues:
Premiums and fees		$	3,255	$	3,571	$	3,320	$	3,645
Net investment income			74		71		66		64
Mail order pharmacy revenues			368		368		391		391
Other revenues			48		47		50		53
Segment revenues			3,745		4,057		3,827		4,153
Benefits and Expenses:
Global Health Care medical claims expense			2,014		2,254		2,057		2,301
Other benefit expenses			18		-		20		-
Mail order pharmacy cost of goods sold			309		309		329		329
Operating expenses			1,020		1,064		1,080		1,145
Benefits and expenses			3,361		3,627		3,486		3,775
Income before income taxes			384		430		341		378
Income taxes			136		151		125		138
Segment earnings			248		279		216		240
Adjusted income from operations		$	248	$	279	$	216	$	240

Cigna Corporation
Segment results - Global Supplemental Benefits
First Three Quarters and Nine Months Ended September 30, 2012
(unaudited)

	Three Months Ended
	March 31, 2012							June 30, 2012
Global Supplemental Benefits, compared with		International			Global			International			Global
Amounts previously reported in International		As previously			Supplemental			As previously			Supplemental
(Dollars in millions)		Reported			Benefits			Reported			Benefits
Revenues:
Premiums and fees		$	866		$	444		$	898		$	455
Net investment income			25			21			25			22
Other revenues			9			8			6			3
Segment revenues			900			473			929			480
Benefits and Expenses:
Other benefit expenses			497			218			532			230
Operating expenses excluding special item(s)			300			209			300			212
Benefits and expenses			797			427			832			442
Income before income taxes			103			46			97			38
Income taxes			23			3			32			11
Segment earnings			80			43			65			27
Adjusted income from operations		$	80		$	43		$	65		$	27


	Three Months Ended							Nine Months Ended
	September 30, 2012							September 30, 2012
Global Supplemental Benefits, compared with		International			Global			International			Global
Amounts previously reported in International		As previously			Supplemental			As previously			Supplemental
(Dollars in millions)		Reported			Benefits			Reported			Benefits
Revenues:
Premiums and fees		$	930		$	493		$	2,694		$	1,392
Net investment income			25			22			75			65
Other revenues			8			7			23			18
Segment revenues			963			522			2,792			1,475
Benefits and Expenses:
Other benefit expenses			543			251			1,572			699
Operating expenses excluding special item(s)			306			217			906			638
Special item(s)			14			9			14			9
Benefits and expenses			863			477			2,492			1,346
Income before income taxes			100			45			300			129
Income taxes			30			11			85			25
Segment earnings			70			34			215			104
Less: Special item(s), after-tax			(9	)		(6	)		(9	)		(6	)
Adjusted income from operations		$	79		$	40		$	224		$	110

Cigna Corporation
Segment results - Global Supplemental Benefits
Four Quarters of 2011
(unaudited)

	Three Months Ended
	March 31, 2011					June 30, 2011
Global Supplemental Benefits, compared with		International		Global		International			Global
Amounts previously reported in International		As previously		Supplemental		As previously			Supplemental
(Dollars in millions)		Reported		Benefits		Reported			Benefits
Revenues:
Premiums and fees		$	698	$	351	$	737		$	375
Net investment income			23		20		24			20
Other revenues			6		5		3			4
Segment revenues			727		376		764			399
Benefits and Expenses:
Other benefit expenses			397		173		420			185
Operating expenses excluding special item(s)			243		162		262			178
Benefits and expenses			640		335		682			363
Income before income taxes			87		41		82			36
Income taxes			25		9		25			9
Income attributable to noncontrolling interest			1		1		-			-
Segment earnings			61		31		57			27
Less: Special item(s), after-tax			-		-		-			-
Adjusted income from operations		$	61	$	31	$	57		$	27


	Three Months Ended
	September 30, 2011					December 31, 2011
Global Supplemental Benefits, compared with		International		Global		International			Global
Amounts previously reported in International		As previously		Supplemental		As previously			Supplemental
(Dollars in millions)		Reported		Benefits		Reported			Benefits
Revenues:
Premiums and fees		$	765	$	392	$	790		$	410
Net investment income			24		21		25			22
Other revenues			3		4		5			2
Segment revenues			792		417		820			434
Benefits and Expenses:
Other benefit expenses			435		195		445			201
Operating expenses excluding special item(s)			271		188		306			206
Special item(s)			-		-		4			4
Benefits and expenses			706		383		755			411
Income before income taxes			86		34		65			23
Income taxes			24		7		26			11
Segment earnings			62		27		39			12
Less: Special item(s), after-tax			-		-		(3	)		(3	)
Adjusted income from operations		$	62	$	27	$	42		$	15

Cigna Corporation
Segment results - Group Disability and Life
First Three Quarters and Nine Months Ended September 30, 2012
(unaudited)

	Three Months Ended
	March 31, 2012							June 30, 2012
Group Disability and Life		As						As
		Previously						Previously
(Dollars in millions)		Reported			As revised			Reported			As revised
Revenues:
Premiums and fees		$	743		$	763		$	749		$	767
Net investment income			70			76			68			73
Segment revenues			813			839			817			840
Benefits and Expenses:
Other benefit expenses			546			565			512			529
Operating expenses excluding special item(s)			175			177			179			182
Benefits and expenses			721			742			691			711
Income before income taxes			92			97			126			129
Income taxes			27			29			37			38
Segment earnings			65			68			89			91
Adjusted income from operations		$	65		$	68		$	89		$	91


	Three Months Ended							Nine Months Ended
	September 30, 2012							September 30, 2012
Group Disability and Life		As						As
		Previously						Previously
(Dollars in millions)		Reported			As revised			Reported			As revised
Revenues:
Premiums and fees		$	758		$	775		$	2,250		$	2,305
Net investment income			69			74			207			223
Segment revenues			827			849			2,457			2,528
Benefits and Expenses:
Other benefit expenses			563			578			1,621			1,672
Operating expenses excluding special item(s)			176			177			530			536
Special item(s)			3			3			3			3
Benefits and expenses			742			758			2,154			2,211
Income before income taxes			85			91			303			317
Income taxes			25			27			89			94
Segment earnings			60			64			214			223
Less: Special item(s), after-tax			(2	)		(2	)		(2	)		(2	)
Adjusted income from operations		$	62		$	66		$	216		$	225

Cigna Corporation
Segment results - Group Disability and Life
Four Quarters of 2011
(unaudited)

	Three Months Ended
	March 31, 2011					June 30, 2011
Group Disability and Life		As				As
		Previously				Previously
(Dollars in millions)		Reported		As revised		Reported		As revised
Revenues:
Premiums and fees		$	688	$	708	$	717	$	733
Net investment income			65		72		67		73
Segment revenues			753		780		784		806
Benefits and Expenses:
Other benefit expenses			492		516		496		517
Operating expenses			155		156		164		166
Benefits and expenses			647		672		660		683
Income before income taxes			106		108		124		123
Income taxes			24		25		36		35
Segment earnings			82		83		88		88
Less: Special item(s), after-tax			5		5		-		-
Adjusted income from operations		$	77	$	78	$	88	$	88


	Three Months Ended
	September 30, 2011					December 31, 2011
Group Disability and Life		As				As
		Previously				Previously
(Dollars in millions)		Reported		As revised		Reported		As revised
Revenues:
Premiums and fees		$	698	$	719	$	677	$	697
Net investment income			67		73		68		73
Segment revenues			765		792		745		770
Benefits and Expenses:
Other benefit expenses			517		535		498		518
Operating expenses			159		162		170		170
Benefits and expenses			676		697		668		688
Income before income taxes			89		95		77		82
Income taxes			27		29		22		24
Segment earnings			62		66		55		58
Adjusted income from operations		$	62	$	66	$	55	$	58

Cigna Corporation
Consolidating Statement of Income - New Segment Basis
Nine Months Ended September 30, 2012
(unaudited)
	Nine Months Ended
	September 30, 2012
		Global			Global			Group						Realized
		Health			Supplemental			Disability						investment
(Dollars in millions)		Care			Benefits			and Life			Other (a)			gains		Consolidated
Revenues:
Premiums and fees		$	15,574		$	1,392		$	2,305		$	89		$		$	19,360
Net investment income			191			65			223			375					854
Mail order pharmacy revenues			1,189			-			-			-					1,189
Other revenues, including run-off reinsurance hedge results			173			18			-			(115	)				76
Realized investment gains															20		20
Total revenues			17,127			1,475			2,528			349			20		21,499
Benefits and Expenses:
Global Health Care medical claims expense			10,584			-			-			-					10,584
Other benefit expenses			-			699			1,672			277					2,648
Mail order pharmacy cost of goods sold			975			-			-			-					975
Guaranteed minimum income benefits expense			-			-			-			(33	)				(33	)
Operating expenses (excluding special items)			3,871			638			536			272					5,317
Special items			96			9			3			42					150
Total benefits and expenses			15,526			1,346			2,211			558			-		19,641
Income (loss) before income taxes			1,601			129			317			(209	)		20		1,858
Income taxes (benefits)			580			25			94			(62	)		4		641
Net income (loss)			1,021			104			223			(147	)		16		1,217
Shareholders' net income (loss)			1,021			104			223			(147	)		16		1,217
Less: realized investment gains, net of taxes															16		16
Segment earnings (loss)			1,021			104			223			(147	)		-		1,201
Less: adjustments to reconcile to adjusted income from operations:
Results of GMIB business (after-tax)												22					22
Special items (after-tax)			(62	)		(6	)		(2	)		(33	)				(103	)
Adjusted income (loss) from operations		$	1,083		$	110		$	225		$	(136	)	$	-	$	1,282

(a) Other includes Run-off Reinsurance, Other Operations and Corporate.

Cigna Corporation
Consolidating Statement of Income - New Segment Basis
Year Ended December 31, 2011
(unaudited)
	Year Ended
	December 31, 2011
	Global		Global			Group					Realized
	Health		Supplemental			Disability					investment
(Dollars in millions)	Care		Benefits			and Life		Other (a)			gains		Consolidated
Revenues:
Premiums and fees	$	14,443	$	1,528		$	2,857	$	138		$		$	18,966
Net investment income		263		83			291		509					1,146
Mail order pharmacy revenues		1,447		-			-		-					1,447
Other revenues		236		15			-		(7	)				244
Realized investment gains												62		62
Total revenues		16,389		1,626			3,148		640			62		21,865
Benefits and Expenses:
Global Health Care medical claims expense		9,125		-			-		-					9,125
Other benefit expenses		-		754			2,086		525					3,365
Mail order pharmacy cost of goods sold		1,203		-			-		-					1,203
Guaranteed minimum income benefits expense		-		-			-		234					234
Operating expenses (excluding special items)		4,340		734			654		286					6,014
Special items		-		4			-		44					48
Total benefits and expenses		14,668		1,492			2,740		1,089			-		19,989
Income (loss) before income taxes		1,721		134			408		(449	)		62		1,876
Income taxes (benefits)		616		36			113		(171	)		21		615
Net income (loss)		1,105		98			295		(278	)		41		1,261
Less: Income attributable to noncontrolling interest		-		1			-		-					1
Shareholders' net income (loss)		1,105		97			295		(278	)		41		1,260
Less: realized investment gains, net of taxes												41		41
Segment earnings (loss)		1,105		97			295		(278	)		-		1,219
Less: adjustments to reconcile to adjusted income from operations:
Results of GMIB business (after-tax)		-		-			-		(135	)				(135	)
Special items (after-tax)		1		(3	)		5		(10	)				(7	)
Adjusted income (loss) from operations	$	1,104	$	100		$	290	$	(133	)	$	-	$	1,361

(a) Other includes Run-off Reinsurance, Other Operations and Corporate.

As used in this document, “Cigna” or “the Company” may refer to Cigna Corporation itself, one or more of its subsidiaries, or Cigna Corporation and its consolidated subsidiaries.

CAUTIONARY STATEMENT FOR PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

The Company and its representatives may from time to time make written and oral forward-looking statements, including statements contained in press releases, filings with the Securities and Exchange Commission (the “SEC”), reports to shareholders and meetings with analysts and investors. Forward-looking statements may contain information about financial prospects, economic conditions, trends and other uncertainties. These forward-looking statements are based on management’s beliefs and assumptions and on information available to management at the time the statements are or were made. Forward-looking statements include, but are not limited to, information concerning possible or assumed business strategies, financing plans, competitive position, growth opportunities, operating performance improvements, trends and, in particular, strategic or operational improvement initiatives, including in health care operations, litigation and other legal matters, and outlooks for full year 2012, 2013 and beyond results. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words “believe”, “expect”, “plan”, “intend”, “anticipate”, “estimate”, “predict”, “potential”, “may”, “should” or similar expressions. By their nature, forward-looking statements: (i) speak only as of the date they are made, (ii) are not guarantees of future performance or results, and (iii) are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from forward-looking statements as a result of a variety of factors, including but not limited to, increases to medical costs or other costs or adverse changes due to legislative and regulatory requirements such as health care reform, risks related to implementing operational and strategic initiatives, competition risk, risks related to the run-off reinsurance book and risk associated with litigation and regulatory action. This list of important factors is not intended to be exhaustive. The Company’s most recent Annual Report on Form 10-K, including the “Risk Factors” section, as updated by the Current Report on Form 8-K filed on August 8, 2012, most recent Quarterly Reports on Form 10-Q, and other documents filed with the SEC include both expanded discussion of these factors and additional risk factors and uncertainties that could preclude the Company from realizing the forward-looking statements. The Company does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CIGNA CORPORATION
Date: January 24, 2013	By: /s/ Ralph J. Nicoletti
	Ralph J. Nicoletti
	Executive Vice President
	and Chief Financial Officer