Cigna & CMC Reaches a Milestone of One Million Policies Sold in China

  Cigna & CMC Reaches a Milestone of One Million Policies Sold in China

Business Wire

SHENZHEN, China & BLOOMFIELD, Conn. -- December 03, 2012

Cigna & CMC Life Insurance Co., Ltd. (“Cigna & CMC”), a joint venture company
between Cigna and a China Merchants Group affiliate, announced today that the
company has sold its one millionth policy in force in China. Cigna & CMC has
been growing rapidly in the Chinese health and life insurance market since it
was established nearly 10 years ago.

Mr. Ma Weihua, chairman of Cigna & CMC said: “This is a key historical
milestone in Cigna & CMC’s successful growth story. The achievement reflects
the collective focus and commitment of the joint venture team. It also
illustrates the power of Cigna & CMC’sshared values and vision enabling the
company to leverage resources to drive these results. This milestone will
inspire Cigna & CMC to achieve even greater success in the next decade and
beyond.”

As one of the most successful life insurance joint ventures in China, Cigna &
CMC leverages Cigna’s more than 220 years’ experience, distribution expertise,
and deep knowledge of insurance services. That foundation, coupled with CMC’s
vast retail experience, powerful brand, and strong customer understanding,
provides the power behind the JV company’s ability to succeed through its use
of analytics and insights on consumer needs in China.

Cigna & CMC has developed a unique business model by embracing a shared vision
and set of values for the company and leveraging resources and scale to
solidify the reputation of an innovative and trusted brand in the industry. In
just under a decade, the company has grown into an impressive insurance
operation with licenses to operate in nine provinces across China,
approximately 4,000 staff and 1 million in-force policies. In fact, the JV
company also won the honor of being named China’s Best Foreign Life Insurance
Company and ranks #1 in terms of comprehensive competitive capabilities among
life insurance joint ventures in China.

The JV company operates three lines of business in China:

  *offering supplemental health, life and accident (HL&A) products that are
    distributed through direct marketing channels including internet,
    telemarketing, bancassurance and affinity partner distribution and China
    Merchants Bank’s established branch network,
  *selling and servicing the needs of globally mobile employees through
    Cigna’s expat business unit, Global Health Benefits, and
  *recently launching its global and local individual private medical
    insurance (IPMI) product suite targeting globally mobile High Net Worth
    individuals either based out of or working in China

“We are extremely pleased with this remarkable achievement in the China
market,” said Mr. David Cordani, president and CEO of Cigna, “As a leading
global health service provider, we will continue to bring our product and
distribution expertise to this critically important joint venture. Cigna & CMC
will continue to see strong growth in the next decade, given China’s growing
demand for health insurance and our unique solutions to help fill the diverse
set of customers’ needs.”

Cigna & CMC has maintained its rapid growth in 2012 despite a relative
slowdown in China’s fast-growing economy. In fact, Cigna & CMC recorded USD
$238 million in premiums and fees year-to-date through 9/30/2012, a 35%
increase over the prior year. The company attributes the growth to its
customer-centric products and services, as well as its innovative, diversified
marketing strategies.

“With China’s growing middle class, aging population and expanding
urbanization, there will be tremendous opportunities for the insurance sector
to help meet China’s health and protection needs,” said Mr. Fernando Moreira,
general manager and CEO of Cigna & CMC. “We will stay focused on the customer
and leverage the advanced resources of both companies to provide
comprehensive, improved health insurance services for the local market.”

Founded in 2003, Cigna & CMC has expanded into Beijing, Shanghai, as well as
provinces of Guangdong, Zhejiang, Jiangsu, Sichuan, Hubei, Shandong and
Liaoning.

About Cigna & CMC Life Insurance Company Limited

Cigna & CMC Life Insurance Co., Ltd. (“Cigna & CMC”) was established by Cigna
and a China Merchants Group affiliate in 2003. Founded in 1792, Cigna
Corporation is one of the largest insurance companies in the US. As early as
1897, a Cigna predecessor company was the 1^st American insurance company
operating insurance business in China granted by the Qing Dynasty Government.
China Merchants Group ("CMG"), founded in 1872, is one of the earliest
enterprises in Chinese enterprise modernization process in recent China
history. Cigna & CMC was awarded Best Foreign Life Insurance Company Award in
China for two consecutive years in 2008 and 2009 by China Financial Times and
The Institute of Finance and Banking of Chinese Academy of Social Science.
Cigna & CMC topped in the overall competency ranking among all joint venture
life insurers in China in the 2010 Asia Insurance Competency Ranking Research
Report conducted by California State University, Fullerton (CSUF) and 21^st
Century Business Herald. For more information about Cigna & CMC, Pls. visit
www.cigna-cmc.com.

About Cigna

Cigna Corporation (NYSE: CI) is a global health service company dedicated to
helping people improve their health, well-being and sense of security. All
products and services are provided exclusively by or through operating
subsidiaries of Cigna Corporation, including Connecticut General Life
Insurance Company, Cigna Health and Life Insurance Company, Life Insurance
Company of North America and Cigna Life Insurance Company of New York. Such
products and services include an integrated suite of health services, such as
medical, dental, behavioral health, pharmacy, vision, supplemental benefits,
and other related products including group life, accident and disability
insurance. Cigna maintains sales capability in 30 countries and jurisdictions,
and has approximately 71 million customer relationships throughout the world.
To learn more about Cigna®, including links to follow us on Facebook or
Twitter, visit www.cigna.com.

Contact:

Cigna
Jon Sandberg, 860-226-7253
Jon.Sandberg@cigna.com
or
China Media Contact:
Cigna & CMC Life Insurance Co., Ltd.
Richard Zhou
+86 755 8319 6209 ext. 6810
richard.zhou@cmc-xinnuo.com
 
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