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Health insurer Cigna raises forecast after strong second quarter

(Reuters) - Cigna Corp (NYSE:CI) on Thursday raised its annual profit forecast for a second straight quarter, as a slower-than-expected recovery in non-urgent medical procedures...
Health insurer Cigna raises forecast after strong second quarter © Reuters. FILE PHOTO: A screen displays the logo for Cigna Corp. on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 16, 2019. REUTERS/Brendan McDermid/File Photo

(Reuters) - Cigna Corp (NYSE:CI) on Thursday raised its annual profit forecast for a second straight quarter, as a slower-than-expected recovery in non-urgent medical procedures helps it rein in costs while demand for its health services products stays strong.

The Bloomfield, Connecticut-based insurer now expects full-year adjusted earnings of at least $22.90 per share, compared with its previous forecast of $22.60 per share.

Cigna's medical care ratio (MCR), the amount spent on medical claims versus the income from premiums, improved to 80.7% in the second quarter, from 84.4% a year earlier, partly due to lower COVID-related costs.

Cigna now expects 2022 MCR between 81.5% and 82.5%, compared with its prior forecast of 82% to 83.5%.

Quarterly net income attributable to shareholders rose more than 6% to $1.56 billion, or $4.90 per share.

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13-08-2022 00:35:31 (UTC+7)

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1.0263

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1.0263

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 EUR/USD1.0263Sell
 GBP/USD1.2143↑ Buy
 USD/JPY133.46↑ Sell
 AUD/USD0.7121Neutral
 USD/CAD1.2778Buy
 EUR/JPY136.98↑ Sell
 EUR/CHF0.9665↑ Sell
 Gold1,815.20Sell
 Silver20.703Neutral
 Copper3.6683↑ Buy
 Crude Oil WTI92.13Neutral
 Brent Oil97.99Sell
 Natural Gas8.783Buy
 US Coffee C227.53↑ Buy
 Euro Stoxx 503,776.81Sell
 S&P 5004,255.50Neutral
 DAX13,795.85Neutral
 FTSE 1007,500.89Neutral
 Hang Seng20,175.62↑ Buy
 Small Cap 20002,002.90↑ Sell
 IBEX 358,400.40↑ Sell
 BASF44.155↑ Buy
 Bayer54.15↑ Buy
 Allianz181.08↑ Sell
 Adidas173.20↑ Buy
 Lufthansa6.588↑ Sell
 Siemens AG111.84↑ Sell
 Deutsche Bank AG9.061↑ Buy
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Cập nhật lúc 18:51:42 12/08/2022
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