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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
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.
BUSINESS
September 21, 2013 | By David Sell, Inquirer Staff Writer
Bravo Health Pennsylvania, which serves Philadelphia-area patients through Medicare Advantage insurance plans, altered documents submitted to the federal government during an audit of the company's billing practices, according to a report by the Office of Inspector General of the Department of Health and Human Services. Bravo agreed July 26 to pay $225,000 to settle allegations that it violated laws related to altered records. "We discovered that some of the medical records that Bravo submitted to us during our fieldwork had been altered and resubmitted," says the OIG report, which looked at billing from 2007.
BUSINESS
May 17, 2013 | By David Sell, Inquirer Staff Writer
The revelation this week by the film star Angelina Jolie of a double mastectomy to help avoid breast cancer had business and legal angles as well. Myriad Genetics, the Utah company at the center of a legal debate about the acceptability of gene patenting, has a monopoly on the testing Jolie underwent before opting for surgery. With the news about Jolie breaking Tuesday morning, the company's stock rose to a three-year high of $34.70 during trading on the NASDAQ before closing at $34.10.
BUSINESS
February 8, 2013
In the Region Now in taxis: 6ABC news, programs   Local television station 6ABC , part of Walt Disney Co. , is streaming news and entertainment to 200 taxis in the Philadelphia area and has agreements to add 400 taxis in the market, station general manager Bernie Prazenica said. NBC10, owned by Comcast Corp., disclosed this week plans to equip 1,200 Philadelphia taxis with video screens, up from about 100 taxis a year ago, to broaden its TV audience. NBC10 estimates that the 1,200 taxis will deliver 500,000 advertising impressions a month.
ENTERTAINMENT
January 15, 2013
SATURDAY I attended the seventh annual Lemon Ball, presented by the Alex's Lemonade Stand Foundation, which raises money to fight childhood cancer. The event was hosted by CBS 3 anchor Susan Barnett and featured an outpouring of support from parents of children fighting cancer to local executives giving back. The event was presented by Volvo and the Toys "R" Us Children's Fund with support from Cigna and Auntie Anne's Pretzels.     Email: Bigrube@streetgazing.com On Twitter: @BigRubeHarley Blog: streetgazing.com  
SPORTS
January 14, 2013 | By Jen A. Miller, For The Inquirer
For three years, Kinzey Lynch has been a key member of the Perkiomen Valley High School cross-country team. He's run through the woods, over trails, and on courses that intersect busy streets with a personal record of 22 minutes, 48 seconds. This might not seem too extraordinary for a cross-country runner, except that Lynch, 17, is legally blind. He was born with two conditions that combined to severely limit vision in his left eye, and leave him seeing just colors and distances from his right.
NEWS
September 26, 2012 | By Joseph N. DiStefano, Inquirer Staff Writer
He was banished from St. Joseph's College and forced into the Army 58 years ago, after he'd been jailed for a drunken brawl and then tried to falsify his failing grades. The change turned out to be "one of the best things anyone ever did for me," says James J. Maguire. Later, the Jesuits let him back in. His philosophy professor, the Rev. Hunter Guthrie, realized that Maguire was dyslexic, and taught him to parse theology with an index card and ruler. Accounting was easier, the silver-haired, straight-backed Maguire, 79, recounted last week: "I was always very good at numbers.
NEWS
August 23, 2012 | By Harold Brubaker, Inquirer Staff Writer
When Ed Hanway, who made millions as chairman of Cigna Corp. and is devoting his retirement to reviving Catholic high schools in the Philadelphia region, goes to Eagles games with his children, he parks in a far lot and sits in the stands with the masses. "No VIP treatment for the chairman of Cigna," said Charlie Pizzi, who has known Hanway for about 20 years. "I think that illustrates the kind of person he is and why he wants to give back now. " When asked Tuesday about his Philadelphia Eagles habit, Hanway, who buys his own season tickets, maintaining a family tradition that goes back to 1958, laughed and said: "Super boxes are not where the real fans are. " When it comes to his Catholic faith, H. Edward Hanway, 60, is no more inclined to keep his distance.
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