Chubb has bought Cigna‘s accident, supplemental health and life insurance business.
This transaction advances Chubb by expanding its presence in the Asia-Pacific region, a growth area for Chubb.
“Cigna’s business, which is approximately 80% A&H, adds significantly to our business in Asia,” said Evan G. Greenberg, CEO of Chubb. “The Asia-Pacific region offers potential for long-term growth and wealth creation. The Cigna businesses have favorable underwriting margins, produce high-quality earnings and are not exposed to the P&C cycle.”