Cigna net profits nosedive as merger costs add up: 5 takeaways

Cigna’s third quarter profits took a beating as the insurer posted a 16.6 percent drop in net profits and a 10.9 percent slide for the last nine months, Journal Inquirer reports.

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Here’s what you need to know.

1. Costs associated with Cigna’s pending merger with Anthem drove the loss.

2. Cigna posted a net profit of $456 million in the third quarter, $1.76 per share. In 2015, Cigna posted $547 million, $2.10 per share in profits.

3. The company’s year-to-date profits are $1.49 billion, $5.72 per share, down from $1.67 billion, $6.40 per share over the same period last year.

4. Cigna’s customer base grew by 180,000 customers, matching last year’s growth.

5. CEO David Cordani expects 2017 will present “attractive growth opportunities.”

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