INDIANAPOLIS - Cigna Corp., said Thursday that its net income in the first quarter jumped 52 percent as the managed care company has experienced growth of compensation of its top companies and raised profit by 2011 forecasts.
The insurer of Philadelphia won 429 million, or $ 1.57 per share, in the three months ended March 31. Which is the 283 million dollars, or $1.02 per share, last year. Revenue climbed 4 percent to 5.41 billion $ of $ 5.21 billion.
Adjusted operations, which excludes some non-recurring items totalled $1.37 per share.
Analyst interviewed by FactSet gains expected $1.09 per share on revenue $ 5.49 billion.
CIGNA, the fourth health insurer based on registration, operates with health care, disability group and segments of life in the United States. Also, he sells the individual insurance in several countries and expatriate business that provides coverage for people living outside their country of origin.
Income after tax of its more large segment, health care, rose to 47% to $ 246 million. The performance was partly supported by a gain of $ 22 million, as whiff of claims last year came in below estimates of the insurer. Medical health membership increased slightly to $ 11.4 million.
Income after tax in its international business rose 7 percent to 77 million, as the premiums and costs were assisted by the acquisition of the company of Vanbreda International last year.
The insurer is now all year adjusted $ 4.65 and $ 5 per share, place among a range of 16: $ 30 to $ 4.70 per share, expected by the company in February.
Analysts expect earnings of $4.73 per share.
Performance of CIGNA follows a trend set by other major insurers in the first quarter. UnitedHealth Group Inc., WellPoint, Aetna Inc. and Humana Inc. have already reported earnings that beat expectations of Wall Street and their forecasts for 2011 has raised.
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