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Cigna

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BUSINESS
March 6, 1987 | By KEVIN HANEY, Daily News Staff Writer
Insurance powerhouse Cigna is aiming to cut costs, a move that could affect some 6,000 workers in the Philadelphia area. Company spokesman Michael J. Monroe acknowledged that cost-cutting measures could mean job cuts at its Center City headquarters and its local satellite offices. "There is a likelihood that the number of positions in the Cigna Corp. will be reduced in the future," Monroe said. Cigna management has only begun its review, expected to last through the year, and no decisions have been made on how the work force might be reduced, he added.
BUSINESS
October 29, 1987 | By Larry Fish, Inquirer Staff Writer
Cigna Corp. yesterday made clear that Wilson H. Taylor, president of the multi-line insurance company's property and casualty unit, would succeed Robert D. Kilpatrick when he retires as chairman and chief executive officer early in 1989. Taylor, 43, an actuary who joined Connecticut General Corp. in 1964, will become vice chairman, chief operating officer - a newly minted title - on Jan. 1. Kilpatrick will reach Cigna's mandatory retirement age of 65 early in 1989. Like Kilpatrick, Taylor came to Cigna through Connecticut General, a life and health insurance company based in Bloomfield, Conn.
BUSINESS
September 15, 1987 | By GARY THOMPSON, Daily News Staff Writer
Mayor Goode and other city officials were scheduled to meet this morning with top Cigna Corp. executives in an attempt to convince the insurance giant to keep its massive work force in the city. Yesterday marked Cigna's deadline for the submission of development proposals. The company is looking for more than 1 million square feet of office space to house some 4,400 employees now working in Center City. Spokesman Michael Monroe said the company received 10 proposals, six representing sites within city limits and four from developers offering suburban locations.
BUSINESS
April 23, 1987 | By KEVIN HANEY, Daily News Staff Writer
The search for a successor to chairman and chief executive Robert D. Kilpatrick is getting under way at insurance giant Cigna. The head of the Philadelphia-based insurance and financial services firm, which employs about 4,800 locally, said yesterday that he expects the successor to come from within the company's ranks. His replacement will be appointed chief operating officer later this year and will succeed Kilpatrick in early 1989, when the current chief executive, now 63, plans to retire.
BUSINESS
September 30, 1988 | By Marc Meltzer, Daily News Staff Writer
Sighs of relief at Cigna that Hurricane Gilbert didn't cause far more damage than it did were almost as powerful yesterday as the 200-mph winds Gilbert blew earlier this month. Cigna said that damages caused by Gilbert, primarily to property the company insured in Jamaica, would cost shareholders about $20 million in profits during the quarter ending today. The figure works out to about 26 cents a share that will be shaved from the estimated $4 a share in profits expected for all of this year, according to Ira Malis, analyst at Alex.
BUSINESS
February 1, 1986 | By Larry Fish, Inquirer Staff Writer
Cigna Corp.'s decision to take a charge of $1.2 billion in the fourth quarter to boost its property-and-casualty-claims reserves by 28 percent left some analysts questioning yesterday why management did not recognize the problem sooner. The charge, which the company is taking for the fourth quarter of 1985 and is expected to result in an operating loss of $853 million for the year, resulted in Cigna's being placed on the "credit-watch surveillance list" of Standard & Poor's Corp.
BUSINESS
December 19, 1990 | By Paul Maryniak, Daily News Staff Writer
Even if the city finds no takers to help get it off the hook for its Cigna Corp. lease, it won't be the highest rental for city-leased space at privately owned Center City buildings. That distinction belongs to the ARA Tower - and may be for a long time to come, city records show. Under a deal cut in 1982 by Mayor William Green and his development aides, the city holds a 25-year lease on 200,000 square-feet of space in the tower, on Market Street at 11th. Rents in the ARA Tower will cost taxpayers $6.6 million this year, records show.
BUSINESS
November 4, 1988 | By Larry Fish, Inquirer Staff Writer
Cigna Corp. yesterday reported that profits dropped sharply in the third quarter because of worsening results in its property-casualty insurance unit. Net income dropped 40 percent for the company as a whole. Operating income for the property-casualty insurance segment was off 58 percent from the third quarter of last year, to $46.6 million from $110.4 million. "We are concerned that property and casualty commercial-line prices are nearing inadequate levels and we are prepared to reduce writings if the price declines continue," Wilson H. Taylor, president and chief executive officer, said in a statement.
BUSINESS
February 17, 1988 | By Andrea Knox, Inquirer Staff Writer
Big gains in its property and casualty business produced a banner year for Cigna Corp., which yesterday reported a 24 percent increase in consolidated operating income for 1987 over 1986. But in announcing the results, chairman and chief executive officer Robert D. Kilpatrick cautioned that competition is heating up in the property and casualty business. That competition, together with continued losses in health- maintenance organizations and escalating health-care costs, will "constrain" 1988 earnings, Kilpatrick said.
BUSINESS
July 27, 1990 | The Inquirer Staff
Cigna Corp. said yesterday that it had decided to keep its Individual Financial Services Division, which it had been considering for sale for the last 18 months. The division sells individual life insurance, disability insurance, investments and financial planning, primarily to wealthy individuals. When Cigna said in January 1989 that it might sell the unit, it noted that Individual Financial's outlook was for flat sales and that individual life policies did not fit the strategic thrust of Cigna.
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NEWS
June 26, 2016 | By Michaelle Bond, STAFF WRITER
First responders in Chester County have received a grant from a health-insurance company to purchase naloxone, a drug that reverses the effects of heroin and opioid overdoses, the Chester County District Attorney's Office announced Friday. Cigna donated $50,000 for Naloxone to the Pennsylvania District Attorneys Association last year to distribute among local agencies. Philadelphia and Delaware County have received Cigna grants, and first responders in Chester County have restocked their supplies thanks to their share -- $7,500.
NEWS
May 26, 2016 | By Walter F. Naedele, Staff Writer
Robert J. Ellis Jr., 80, of Northfield, N.J., who retired in 1999 as a supervisor in the Philadelphia office of the insurance firm Cigna, died of Alzheimer's disease Thursday, May 5, at the Atlantic City campus of AtlantiCare Regional Medical Center. A longtime resident of Cherry Hill, Mr. Ellis retired to the Jersey Shore in 2006. Born in Camden, Mr. Ellis graduated from Merchantville High School and earned a bachelor's in business at Lehigh University in 1957, where he was a member of Chi Psi fraternity.
NEWS
March 23, 2016 | By Bonnie L. Cook, Staff Writer
James G. Stewart, 73, of Bryn Mawr, former chief financial officer of Cigna Corp., died Saturday, March 5, of cancer at home. Mr. Stewart joined Connecticut General Life Insurance Co. in 1966. Sixteen years later in 1982, Connecticut General merged with the Insurance Co. of North America to form Cigna. Mr. Stewart held a variety of positions in the reinsurance, group insurance, group pension, individual life insurance, and investment operations. The year after the merger, Mr. Stewart was elected executive vice president and corporate CFO, a role in which he was responsible for Cigna's overall financial management.
NEWS
November 19, 2015 | By Jacob Adelman, Inquirer Staff Writer
The owners of Two Liberty Place have put the office portion of the Center City tower up for sale, according to CBRE executive vice president Robert Fahey, who is handling the listing. Florida-based Parkway Properties is selling the office space in the 57-story tower to focus on its core portfolio of assets in the southeastern United States, Fahey said Tuesday. He said a significant amount of interest during the week in which the property has been marketed has come from overseas buyers who are newly discovering Philadelphia as a target for investment.
ENTERTAINMENT
September 19, 2015 | By Samantha Melamed, Inquirer Staff Writer
For a penthouse, the top of One Liberty Place hasn't seen much action. First, it was a Cigna corporate cafeteria. Then, it sat vacant. Soon, though, the space - and, more important, the views - will be accessible to anyone willing to pay $19 a ticket. The One Liberty Observation Deck , to open in November, represents an investment "north of $10 million," said general manager Evan Evans. He expects it to attract half a million visitors per year.   To his employer, the French company Montparnasse 56, it was an obvious choice.
NEWS
July 26, 2015 | By Chris Mondics, Inquirer Staff Writer
Indianapolis-based Anthem Inc. said Friday that it would acquire Cigna Corp., a major national health insurer with Philadelphia origins and 1,100 local employees, in a deal that would create the largest health-insurance company in the United States. The $54.2 billion transaction is one in a series of health-insurer mergers announced recently as firms scramble to get on top of rapid changes in the marketplace. The combined company will have more than $115 billion in annual revenue and an enrollment of 53 million members.
NEWS
June 6, 2015 | By Caroline Simon, Inquirer Staff Writer
Richard D. Munoz of Philadelphia died Friday, May 29, in a motorcycle accident on I-95 in Philadelphia, just shy of his 70th birthday. It was Mr. Munoz's wish that no funeral or viewing be held. Instead, he asked for a party. "He thought those things were very depressing," his wife, Gail Howard, explained. "He didn't want to do that to his friends and family. " To those who knew him, the request came as no surprise. Ms. Howard called her husband "somebody who was a little bit irreverent in a way that people always enjoyed," she said.
NEWS
March 7, 2015 | By Walter F. Naedele, Inquirer Staff Writer
Arthur Urcinoli, 88, of Marlton, who retired in 1989 as a vice president for annuities of Cigna, the health insurance firm, in Philadelphia, died of pancreatic cancer Tuesday, March 3, at home. Born in Hartford, Conn., Mr. Urcinoli was an aircraft mechanic in the Army Air Corps in postwar West Germany and earned a bachelor's degree in accounting at the University of Connecticut in 1949. He worked for Aetna, the insurance firm, in Hartford in the 1950s and moved to the Philadelphia region in the 1960s to become an officer for the Insurance Co. of North America before it became Cigna.
NEWS
October 24, 2014 | By Bonnie L. Cook, Inquirer Staff Writer
Jacques E. Mauch, 93, a financial planner and active Villanova University alumnus, died Monday, Oct. 20, of pneumonia at Dunwoody Village in Newtown Square. Known as "Jake" to friends, Mr. Mauch lived in Rosemont and Bryn Mawr. He spent most of his 55-year career as a financial and estate planner working for Connecticut General Life Insurance Co. and CIGNA. A 1943 graduate of Villanova University, he served as class president and for the rest of his life was an ardent supporter of the university and its swimming, football, and basketball programs.
NEWS
May 4, 2014 | By Walter F. Naedele, Inquirer Staff Writer
David B. Phillips, 75, of Pennsauken, wasn't just a member of the Martin Luther Chapel in Pennsauken. His late parents, Ralph and Elsa, in the 1940s helped found the chapel, part of the Lutheran Church Missouri Synod. "Church was one of the important passions of his life," daughter Karen Wright said. "He was president of the congregation at one point," she said, and at other times its treasurer and Sunday school superintendent. On Tuesday, April 29, Mr. Phillips, who retired in 2001 as manager of the shareholder services department at Cigna, the health insurance services firm, died of heart disease at Our Lady of Lourdes Medical Center in Camden.
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