Cigna Reports Strong Full Year 2012 Results, Expects Continued Positive Momentum for 2013

  Cigna Reports Strong Full Year 2012 Results, Expects Continued Positive
  Momentum for 2013

  *Consolidated revenues for full year 2012 increased 33% to $29.1 billion.
  *Adjusted income from operations^1 for full year 2012 was $1.73 billion, or
    $5.99 per share, which represents per share growth of 21% over 2011.
    Shareholders’ net income^1 for full year 2012 was $1.62 billion, or $5.61
    per share.
  *Cigna's global medical customer base grew by 1.4 million people during
    2012, reflecting strong growth across our Commercial and Government
    businesses, including contributions from the HealthSpring acquisition.
  *The Company increased its outlook for full year 2013 consolidated adjusted
    income from operations^1,3 to be in the range of $1.7 billion to $1.83
    billion, or $5.85 to $6.30 per share.

Business Wire

BLOOMFIELD, Conn. -- February 7, 2013

Cigna Corporation (NYSE: CI) today reported full year 2012 consolidated
revenues of $29.1 billion, an increase of 33% over 2011. Revenues reflect
growth in premiums and fees of 38% from ongoing operations, primarily driven
by contributions from the HealthSpring acquisition and continued organic
growth in targeted customer segments.

“Cigna's operating performance in 2012 was strong, driven by effective
execution of our strategy and a consistent focus on delivering value for our
customers,” said David M. Cordani, President and Chief Executive Officer.
“This focus on our global customers and the disciplined management of our
differentiated businesses continues to drive our growth and positions Cigna
well for attractive performance in 2013 and beyond.”

Cigna’s adjusted income from operations^1 for full year 2012 was $1.73
billion, or $5.99 per share, compared with $1.36 billion, or $4.96 per share,
for full year 2011 which represents per share growth of 21% over 2011. For the
fourth quarter of 2012, adjusted income from operations^1 was $452 million, or
$1.57 per share, compared to $293 million, or $1.05 per share, for the fourth
quarter of 2011.

Cigna reported full year 2012 shareholders’ net income^1 of $1.62 billion, or
$5.61 per share, compared with $1.26 billion, or $4.59 per share, for full
year 2011. Shareholders’ net income^1 included income of $29 million, or $0.10
per share, in 2012 and losses of $135 million, or $0.49 per share, in 2011
related to the Guaranteed Minimum Income Benefits (GMIB)^2,5 business within
our Run-off Reinsurance segment. Shareholders’ net income^1 also included
special items^4 which resulted in losses of $171 million, or $0.59 per share,
in 2012 compared to losses of $7 million, or $0.03 per share, in 2011.

Cigna also reported fourth quarter 2012 shareholders’ net income^1 of $406
million, or $1.41 per share, compared with $273 million, or $0.98 per share,
for the fourth quarter of 2011. Shareholders’ net income^1 included income of
$7 million, or $0.02 per share, in the fourth quarter of 2012 and income of $7
million, or $0.03 per share, in the same period of 2011 related to the Run-off
GMIB^2,5 business. Shareholders’ net income^1 in the fourth quarter of 2012
also included special items^4 which resulted in losses of $68 million, or
$0.24 per share, related to litigation matters, compared to losses of $31
million, or $0.11 per share, in the fourth quarter of 2011.

                           CONSOLIDATED HIGHLIGHTS

The following table includes highlights of results and  a reconciliation of
adjusted income from operations^1 to shareholders’ net income^1 (dollars in
millions, except per share amounts; customers in thousands):

                                                               
                                                                  Year
                        Three Months Ended                        Ended
                        December 31,             September 30,   December 31,
                         2012      2011       2012          2012    
Total Revenues          $ 7,620     $ 5,425      $  7,323        $  29,119
                                                                  
Consolidated Earnings
Adjusted income from    $ 452        $ 293        $  489          $  1,734
operations^1
Net realized
investment gains          15           4             7               31
(losses), net of
taxes
GMIB results, net of      7            7             32              29
taxes^2,5
Special items, net of    (68    )   (31    )    (62     )      (171    )
taxes^4
Shareholders’ net       $ 406      $ 273      $  466         $  1,623   
income^1
                                                                  
Adjusted income from
operations^1, per       $ 1.57     $ 1.05     $  1.69        $  5.99    
share
Shareholders’ net       $ 1.41     $ 0.98     $  1.61        $  5.61    
income^1, per share
                                                                  
                        As of the Periods Ended
                        December 31,              September 30,
                         2012      2011       2012    
Global Medical            14,045       12,680        13,971
Customers
                                                                  

  *Cash and short term investments at the parent company were approximately
    $700 million at December 31, 2012 and $3.8 billion at December 31, 2011.
    The 2011 balance included amounts held at year-end to fund the
    HealthSpring acquisition that closed on January 31, 2012.
  *The Company repurchased^6 approximately 4.4 million shares of stock for
    approximately $210 million in 2012.
  *Effective in the fourth quarter of 2012, Cigna realigned its businesses to
    better leverage distribution and service capabilities for the benefit of
    our global clients and customers, which resulted in a change to Cigna's
    external reporting segments. Results for all periods presented are now
    aggregated based on the nature of the products and services delivered,
    rather than the geographies in which we operate.

                        HIGHLIGHTS OF SEGMENT RESULTS

See Exhibit 2 for a reconciliation of adjusted income (loss) from operations^1
to segment earnings (loss)^1.

                              Global Health Care

This segment includes Cigna’s Commercial and Government businesses which
deliver medical and specialty health care products and services provided to
clients and customers on guaranteed cost, retrospectively experience-rated and
service-only funding bases. Specialty health care includes behavioral, dental,
disease and medical management, stop-loss, and pharmacy-related products and
services. The Global Health Care segment includes the business results
previously reported in the Health Care segment and Cigna’s international
health care businesses, primarily consisting of the expatriate benefits
business, which was previously included in the former International segment.

Financial Results (dollars in millions, customers in thousands):

                                                               
                                                                  Year
                           Three Months Ended                     Ended
                           December 31,          September 30,   December 31,
                          2012      2011      2012        2012
Premiums and Fees        $ 5,399     $ 3,645     $  5,307        $  20,973
Adjusted Income from     $ 397        $ 240       $  419          $  1,480
Operations^1
Adjusted Margin,           6.7    %     5.8   %      7.2     %       6.4     %
After-Tax^7
                                                                     
                         As of the Periods Ended
                           December 31,           September 30,
Customers:                2012     2011        2012    
Commercial (including
international health       13,596     12,636         13,530
care)
Medicare and Medicaid     449      44          441     
Global Medical             14,045     12,680         13,971
                                                                     
Behavioral Care^8          21,750     18,344         21,544
Dental                     11,392     10,884         11,387
Pharmacy                   6,772      6,368          6,721
Medicare Part D            1,264      538            1,265
                                                                     

  *Overall, Global Health Care results reflect our strategic expansion into
    the Seniors market through our acquisition of HealthSpring and growth in
    our targeted customer segments.
  *Fourth quarter premiums and fees increased 48% relative to fourth quarter
    2011, due to the contributions from the HealthSpring acquisition, organic
    business growth, rate increases, and increased specialty penetration,
    which reflects a continued shift by clients to our Administrative Services
    Only (“ASO”) solutions.
  *Fourth quarter 2012 adjusted income from operations^1 reflects continued
    growth in targeted medical and specialty businesses, favorable medical
    costs and continued operating expense leverage, while continuing to make
    strategic investments to support future growth.
  *Third quarter 2012 segment margins^7 are higher than fourth quarter 2012
    and 2011 primarily as a result of favorable pharmacy results and medical
    costs.
  *Global Health Care medical claims payable^9 was approximately $1.61
    billion at December 31, 2012 and $1.06 billion at December 31, 2011,
    including international health care. The increase in the December 31, 2012
    balance is primarily attributable to the HealthSpring acquisition.

                         Global Supplemental Benefits

This segment includes Cigna’s supplemental health, life, and accident
insurance, including Medicare supplement coverage, in the U.S. and in foreign
markets, primarily in Asia. These results, along with the international health
care results, were previously reported in the former International segment.

Financial Results (dollars in millions, policies in thousands):

                                                               
                                                                  Year
                           Three Months Ended                     Ended
                           December 31,          September 30,   December 31,
                          2012      2011       2012       2012
Premiums and Fees        $ 592       $ 410       $   493         $  1,984
Adjusted ^ Income from   $ 38         $ 15        $   40          $  148
Operations^1
Adjusted Margin,           6.1    %     3.5   %       7.7    %       7.1    %
After-Tax^7
                                                                     
                         As of the Periods Ended
                           December 31,           September 30,
                          2012       2011       2012   
Policies^8 (excluding      11,436       9,106         9,438
China JV)
                                                                     

  *Fourth quarter premium and fees grew 44% relative to fourth quarter 2011,
    reflecting recent acquisitions and attractive customer retention and
    business growth, primarily in Korea.
  *Fourth quarter 2012 adjusted income from operations^1 reflects the impact
    of strong customer retention and business growth and favorable claim
    experience, particularly in our Korean and U.S. operations.
  *Fourth quarter 2011 segment margins^7 reflect increased strategic
    investments in product and geographic expansion initiatives, costs to
    streamline operations, and the unfavorable impact of changes in foreign
    tax law.
  *The sequential increase in policies as of December 31, 2012 reflects the
    acquisitions of the Turkey joint venture and Great American Supplemental
    Benefits.

                          Group Disability and Life

This segment includes Cigna’s group disability, life, and accident insurance
operations, including certain disability and life insurance business
previously reported in the former Health Care segment.

Financial Results (dollars in millions):

                                                               
                                                                  Year
                              Three Months Ended                  Ended
                              December 31,       September 30,   December 31,
                             2012    2011      2012       2012
Premiums and Fees           $ 804     $ 697      $   775         $  3,109
Adjusted ^ Income from      $ 56       $ 58       $   66          $  281
Operations^1
Adjusted Margin,              6.4  %     7.5  %       7.8    %       8.2    %
After-Tax^7
                                                                            

  *Adjusted income from operations^1 and segment margins^7 for the fourth
    quarter of 2012 reflect the effect of unfavorable claims experience in the
    disability business and favorable life claims experience.
  *Adjusted income from operations^1 for the third quarter of 2012 includes a
    $5 million after-tax favorable impact related to reserve studies.

                                Other Segments

Adjusted income (loss) from operations^1 for Cigna's remaining operations is
presented below (dollars in millions):

                                                             
                                                                Year
                            Three Months Ended                  Ended
                            December 31,       September 30,   December 31,
                           2012    2011      2012       2012
Run-off Reinsurance ^ 2   $ -       $ (1   )   $   (7     )    $   (29   )
Other Operations          $ 19       $ 21       $   22          $   82
Corporate                 $ (58  )   $ (40  )   $   (51    )    $   (228  )
                                                                    

  *During the first quarter of 2013, Cigna entered into a definitive
    agreement with Berkshire Hathaway to exit the Run-off Reinsurance
    businesses. Cigna will fund the transaction with an incremental $100
    million of parent company cash, approximately $1.8 billion of investment
    assets supporting the run-off businesses, and an estimated $300 million
    tax benefit associated with the transaction. As a result of this
    transaction, Cigna expects to record an after-tax charge of $500 million
    as a special item in the first quarter of 2013.

                                   OUTLOOK

  *Cigna increased its outlook for full year 2013 consolidated adjusted
    income from operations^1,3 to be in the range of $1.70 billion to $1.83
    billion, or $5.85 to $6.30 per share.

                                                         
                                                             Full-Year Ended
(dollars in millions, except per share amounts)             December 31, 2013
                                                             
Adjusted income (loss) from operations^1,3
Global Health Care                                         $ 1,430 to 1,520
Global Supplemental Benefits                                 160 to 180
Group Disability and Life                                   270 to 290
Ongoing Businesses                                         $ 1,860 to 1,990
                                                             
Corporate and other                                         (160)
Consolidated                                               $ 1,700 to 1,830
                                                             
Consolidated Adjusted income from operations, per          $ 5.85 to 6.30
share^1,3
                                                             
Global medical customer growth                               1% to 2%
                                                             

  *Cigna’s outlook excludes the potential effects of future capital
    deployment^6.
  *Cigna’s earnings and per share outlooks are based on adjusted income
    (loss) from operations^1, which is defined as segment earnings (loss)
    excluding special items and the results of Cigna's GMIB^2,5 business. As a
    result, Cigna's 2013 outlook does not include the expected after-tax
    charge of $500 million related to the transaction to exit its Run-off
    operations.
  *See the Critical Accounting Estimates section of the Management’s
    Discussion and Analysis of the Company’s Annual Report on Form 10-K for
    the year ended December 31, 2011, as updated by the Current Report on Form
    8-K filed on August 8, 2012, for more information on the potential effects
    of capital market and other assumption changes on shareholders’ net
    income.

The foregoing statements represent management’s current estimate of Cigna’s
2013 consolidated and segment adjusted income from operations^1,3 as of the
date of this release. Actual results may differ materially depending on a
number of factors, and investors are urged to read the Cautionary Statement
included in this release for a description of those factors. Management does
not assume any obligation to update these estimates.

This quarterly earnings release and the Quarterly Financial Supplement are
available on Cigna’s website in the Investor Relations section
(http://www.cigna.com/aboutus/investor-relations). A link to the conference
call, during which management will review fourth quarter and full year 2012
results and discuss full year 2013 outlook is available in the Investor
Relations section of Cigna’s website
(http://www.cigna.com/aboutcigna/investors/events/index.page).


Notes:
   
     Cigna measures the financial results of its segments using segment
     earnings (loss), which is defined as shareholders’ net income (loss)
     before net realized investment results. Adjusted income (loss) from
     operations is defined as segment earnings (loss) excluding special items
     (which are identified and quantified in Note 4) and the results of
     Cigna's GMIB business. Adjusted income (loss) from operations is a
     measure of profitability used by Cigna’s management because it presents
1.   the underlying results of operations of Cigna’s businesses and permits
     analysis of trends in underlying revenue, expenses and shareholders’ net
     income. This measure is not determined in accordance with generally
     accepted accounting principles (GAAP) and should not be viewed as a
     substitute for the most directly comparable GAAP measures, which are
     segment earnings (loss) and shareholders’ net income; see Exhibits 1 and
     2 for reconciliations of the non-GAAP measure to the most directly
     comparable GAAP measures.
     
     Effective December 31, 2012, Cigna made changes to external reporting
     segments to reflect the Company’s realignment of its businesses to
     leverage distribution and service delivery capabilities for the benefit
     of our global clients and customers. Prior period amounts have been
     presented on a comparable basis.
     
     The Guaranteed Minimum Income Benefits (GMIB) business and Guaranteed
2.   Minimum Death Benefits business, also known as Variable Annuity Death
     Benefits (VADBe), are included in our Run-off Reinsurance operations.
     These businesses have been in run-off since 2000.
     
     During the first quarter of 2013, Cigna entered into a definitive
     agreement with Berkshire Hathaway to exit the Run-off Reinsurance
     businesses.
     
     Information is not available for management to (1) reasonably estimate
     future net realized investment gains (losses) or (2) reasonably estimate
     future GMIB business results due in part to interest rate and stock
     market volatility and other internal and external factors; therefore, it
     is not possible to provide a forward-looking reconciliation of adjusted
3.   income from operations to shareholders’ income from continuing
     operations. We expect that special items for 2013 will include an
     after-tax charge of $500 million related to the transaction to exit the
     GMIB and VADBe businesses and may also include potential adjustments
     associated with litigation and assessment related items. Other than these
     items, information is not available for management to identify, or
     reasonably estimate additional 2013 special items.
     
     Special items included in shareholders’ net income and segment earnings
4.   (loss), but excluded from adjusted income (loss) from operations, and the
     calculation of adjusted margins include:
     
     Fourth Quarter 2012
     -- After-tax loss of $68 million related to litigation matters.
     
     Third Quarter 2012
     -- After-tax loss of $50 million related to a realignment and efficiency
     plan.
     -- After-tax loss of $12 million related to transaction costs for the
     2012 acquisition of HealthSpring, Inc. (“HealthSpring”).
     
     First Quarter 2012
     -- After-tax loss of $28 million related to transaction costs for the
     2012 acquisition of HealthSpring.
     -- After-tax loss of $13 million related to a litigation matter.
     
     Fourth Quarter 2011
     -- After-tax loss of $28 million related to transaction costs for the
     2012 acquisition of HealthSpring and after-tax loss of $3 million related
     to transaction costs for the 2011 acquisition of FirstAssist Group
     Holdings Limited (“FirstAssist”).
     
     The application of the FASB’s fair value disclosure and measurement
     guidance (ASC 820-10), which impacts reinsurance contracts covering GMIB,
     does not represent management’s expectation of the ultimate payout.
     Changes in underlying contract holder account values, interest rates,
5.   stock market volatility, and other factors may result in changes to the
     fair value assumptions, and/or amount that will be required to ultimately
     settle Cigna’s obligations, which could result in a material adverse or
     favorable impact on the Run-off Reinsurance segment and Cigna’s results
     of operations.
     
     Share repurchases may from time to time be made pursuant to written
6.   trading plans under Rule 10b5-1, which permit shares to be repurchased
     when Cigna might otherwise be precluded from doing so under insider
     trading laws or because of self-employed trading blackout periods.
     
     Adjusted margins in this press release are calculated by dividing
     adjusted income from operations^1 by segment revenues. For the three
     months ended September 30, 2012 and year ended December 31, 2012, segment
     margins including special items were 6.5% and 6.1% for Global Health
7.   Care, respectively, 6.5% and 6.8% for Global Supplemental Benefits,
     respectively, and 7.5% and 8.2% for Group Disability and Life,
     respectively. For the three months ended December 31, 2011, segment
     margins including special items were 2.8% for Global Supplemental
     Benefits.
     
8.   The number of customers and policies reported in prior periods has been
     adjusted to conform to the current basis of reporting.
     
     Global Health Care medical claims payable are presented net of
9.   reinsurance and other recoverables. The gross Global Health Care medical
     claims payable balance was $1,856 million as of December 31, 2012 and
     $1,305 million as of December 31, 2011.
     

CAUTIONARY STATEMENT FOR PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Cigna Corporation and its subsidiaries (the “Company”) and its representatives
may from time to time make written and oral forward-looking statements,
including statements contained in press releases, in the Company’s filings
with the Securities and Exchange Commission, in its reports to shareholders
and in meetings with analysts and investors. Forward-looking statements may
contain information about financial prospects, economic conditions, trends and
other uncertainties. These forward-looking statements are based on
management’s beliefs and assumptions and on information available to
management at the time the statements are or were made. Forward-looking
statements include, but are not limited to, the information concerning
possible or assumed future business strategies, financing plans, competitive
position, potential growth opportunities, potential operating performance
improvements, trends and, in particular, the Company’s strategic initiatives,
litigation and other legal matters, operational improvement initiatives in the
Global Health Care operations, and the outlook for the Company’s full year
2013 and beyond results. Forward-looking statements include all statements
that are not historical facts and can be identified by the use of
forward-looking terminology such as the words “believe”, “expect”, “plan”,
“intend”, “anticipate”, “estimate”, “predict”, “potential”, “may”, “should” or
similar expressions.

By their nature, forward-looking statements: (i) speak only as of the date
they are made, (ii) are not guarantees of future performance or results and
(iii) are subject to risks, uncertainties and assumptions that are difficult
to predict or quantify. Therefore, actual results could differ materially and
adversely from those forward-looking statements as a result of a variety of
factors. Some factors that could cause actual results to differ materially
from the forward-looking statements include:

    
      increased medical costs that are higher than anticipated in establishing
1.    premium rates in the Company’s Global Health Care operations, including
      increased use and costs of medical services;
      increased medical, administrative, technology or other costs resulting
2.    from new legislative and regulatory requirements imposed on the
      Company’s businesses;
      challenges and risks associated with implementing improvement
      initiatives and strategic actions in the ongoing operations of the
      businesses, including those related to: (i) growth in targeted
      geographies, product lines, buying segments and distribution channels,
3.    (ii) offering products that meet emerging market needs, (iii)
      strengthening underwriting and pricing effectiveness, (iv) strengthening
      medical cost results and a growing medical customer base, (v) delivering
      quality service to members and health care professionals using effective
      technology solutions, and (vi) lowering administrative costs;
      adverse changes in state, federal and international laws and
      regulations, including health care reform legislation and regulation
4.    that could, among other items, affect the way the Company does business,
      increase costs, limit the ability to effectively estimate, price for and
      manage medical costs, and affect the Company’s products, services,
      market segments, technology and processes;
      the ability to successfully complete the integration of acquired
      businesses, including the acquired HealthSpring businesses by, among
      other things, operating Medicare Advantage coordinated care plans and
5.    HealthSpring’s prescription drug plan, retaining and growing the
      customer base, realizing revenue, expense and other synergies, renewing
      contracts on competitive terms, successfully leveraging the information
      technology platform of the acquired businesses, and retaining key
      personnel;
      the ability of the Company to execute its growth plans by successfully
      leveraging its capabilities and those of the businesses acquired in
6.    serving the Seniors market segment and the Company’s other market
      segments, including through successful execution of the Company’s
      physician engagement strategy;
      the possibility that the acquired HealthSpring business may be adversely
      affected by economic, business and/or competitive factors; or by federal
7.    and/or state regulation, including health care reform, reductions in
      funding levels for Medicare programs, and potential changes in risk
      adjustment data validation audit and payment adjustment methodology;
      risks associated with pending and potential state and federal class
      action lawsuits, disputes regarding reinsurance arrangements, other
      litigation and regulatory actions challenging the Company’s businesses,
8.    including disputes related to payments to health care professionals,
      government investigations and proceedings, tax audits and related
      litigation, and regulatory market conduct and other reviews, audits and
      investigations;
      heightened competition, particularly price competition, that could
9.    reduce product margins and constrain growth in the Company’s businesses,
      primarily the Global Health Care business;
      risks associated with the Company’s mail order pharmacy business that,
10.   among other things, includes any potential operational deficiencies or
      service issues as well as loss or suspension of state pharmacy licenses;
11.   significant changes in interest rates or sustained deterioration in the
      commercial real estate markets;
      downgrades in the financial strength ratings of the Company’s insurance
      subsidiaries, that could, among other things, adversely affect new sales
      and retention of current business; downgrades in financial strength
12.   ratings of reinsurers or adjustments to the assumptions used in
      estimating liabilities for the Company’s reinsurance contracts, that
      could result in increased statutory reserves or capital requirements of
      the Company’s insurance subsidiaries;
      limitations on the ability of the Company’s insurance subsidiaries to
13.   dividend capital to the parent company as a result of downgrades in the
      subsidiaries’ financial strength ratings, changes in statutory reserve
      or capital requirements or other financial constraints;
      risks associated with the reinsurance transaction for the run-off
      guaranteed minimum death benefits and guaranteed minimum income benefits
14.   businesses, including the risk that future liabilities exceed the cap
      under the reinsurance agreement or that the reinsurance does not
      otherwise provide adequate protection;
      significant stock market declines, that could, among other things,
15.   impact the Company’s pension plans in future periods as well as the
      recognition of additional pension obligations;
      significant deterioration in economic conditions and significant market
16.   volatility, that could have an adverse effect on the Company’s
      operations, investments, liquidity and access to capital markets;
      significant deterioration in economic conditions and significant market
      volatility, that could have an adverse effect on the businesses of our
17.   customers (including the amount and type of health care services
      provided to their workforce, loss in workforce and our customers'
      ability to pay their obligations) and our vendors (including their
      ability to provide services);
      amendments to income tax laws, that could affect the taxation of
18.   employer-provided benefits and the taxation of certain insurance
      products such as corporate-owned life insurance;
      potential public health epidemics, pandemics, natural disasters and
      bio-terrorist activity, that could, among other things, cause the
19.   Company’s covered medical and disability expenses, pharmacy costs and
      mortality experience to rise significantly, and cause operational
      disruption, depending on the severity of the event and number of
      individuals affected;
20.   risks associated with security or interruption of information systems,
      that could, among other things, cause operational disruption;
21.   challenges and risks associated with the successful management of the
      Company’s outsourcing projects or key vendors; and
22.   the unique political, legal, operational, regulatory and other
      challenges associated with expanding our business globally.

This list of important factors is not intended to be exhaustive. Other
sections of the Company’s most recent Annual Report on Form 10-K, including
the “Risk Factors” section, the Quarterly Report on Form 10-Q for the quarters
ended March 31, June 30, 2012 and September 30, 2012, the Current Report on
Form 8-K filed on August 8, 2012, and other documents filed with the
Securities and Exchange Commission include both expanded discussion of these
factors and additional risk factors and uncertainties that could preclude the
Company from realizing the forward-looking statements. The Company does not
assume any obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
law.

                                                            
CIGNA CORPORATION
COMPARATIVE SUMMARY OF FINANCIAL RESULTS             Exhibit 1
(unaudited)
(Dollars in millions, except per share
amounts)
                                                                   
                                                                   
                                                         
                     Three Months Ended              Year Ended
                     December 31,                    December 31,
                    2012       2011         2012       2011    
                                                                   
REVENUES
                                                                   
Premiums and fees    $ 6,827       $ 4,787           $ 26,187      $ 18,966
Net investment         290           286               1,144         1,146
income
Mail order             434           391               1,623         1,447
pharmacy revenues
Other revenues        58          55              240         248     
Total operating        7,609         5,519             29,194        21,807
revenues
Run-off
Reinsurance hedge      (13     )     (100    )         (119    )     (4      )
loss (1)
Net realized           24            6                 44            62
investment gains
                                                         
Total               $ 7,620     $ 5,425       $ 29,119    $ 21,865  
                                                                   
ADJUSTED INCOME
(LOSS) FROM
OPERATIONS (2)
                                                                   
Global Health Care   $ 397         $ 240             $ 1,480       $ 1,104
Global
Supplemental           38            15                148           100
Benefits
Group Disability       56            58                281           290
and Life
Run-off                -             (1      )         (29     )     (48     )
Reinsurance
Other Operations       19            21                82            85
Corporate              (58     )     (40     )         (228    )     (170    )
                                                         
Total               $ 452       $ 293         $ 1,734     $ 1,361   
                                                                   
SHAREHOLDERS' NET
INCOME
                                                                   
Segment Earnings
(Loss)
Global Health Care   $ 397         $ 240             $ 1,418       $ 1,105
(4)(5)(6)(8)
Global
Supplemental           38            12                142           97
Benefits (4)(7)
Group Disability       56            58                279           295
and Life (4)(8)
Run-off                7             6                 -             (183    )
Reinsurance
Other Operations       19            21                82            89
(8)
Corporate              (126    )     (68     )         (329    )     (184    )
(3)(5)(7)(8)
                                                         
Total                  391           269               1,592         1,219
Net realized
investment gains,      15            4                 31            41
net of taxes
                                                         
Shareholders' net   $ 406       $ 273         $ 1,623     $ 1,260   
income
                                                                   
                                                                   
DILUTED EARNINGS
PER SHARE:
                                                                   
Adjusted income
from operations      $ 1.57        $ 1.05            $ 5.99        $ 4.96
(2)
Results of
guaranteed minimum
income benefits        0.02          0.03              0.10          (0.49   )
business,
after-tax
Net realized
investment gains,      0.06          0.01              0.11          0.15
net of taxes
Special item(s),
after-tax            (0.24   )   (0.11   )     (0.59   )   (0.03   )
(3)(4)(5)(6)(7)(8)
Shareholders' net   $ 1.41      $ 0.98        $ 5.61      $ 4.59    
income
Weighted average
shares (in           288,710    278,290      289,530    274,249 
thousands)
                                                                   
SHAREHOLDERS'
EQUITY at December                            $ 9,769     $ 7,994   
31,
                                                                   
                                                                   
SHAREHOLDERS'
EQUITY PER SHARE                               $ 34.18     $ 28.00   
at December 31,

             
Effective December 31, 2012, Cigna changed its external reporting segments.
The primary change is that the two businesses that comprised the former
International segment (international health care and supplemental health, life
and accident) are now reported as follows: 1) substantially all of the
international health care business (comprised primarily of the global health
benefits business) is now combined with the former Health Care segment and
renamed Global Health Care; and 2) the supplemental health, life and accident
business becomes a separate reporting segment named the Global Supplemental
Benefits segment. In addition, certain disability and life products,
previously reported in the former Health Care segment, are now reported in the
Group Disability and Life segment. Prior period segment information has been
conformed to the current reporting segments. See Cigna's Form 8-K filed on
January 24, 2013 for additional information.
                         
Cigna acquired several businesses during 2012, including: The Turkey joint
venture (JV) on November 9 for approximately $116 million, Great American
Supplemental Benefits on August 31 for approximately $326 million, and
HealthSpring on January 31 for approximately $3.8 billion. The financial
results of these acquisitions are included in results from the date of
acquisition. The Turkey JV and Great American Supplemental Benefits are
included in the Global Supplemental Benefits segment and HealthSpring is
included in the Global Health Care segment.
                         
                         Includes pre-tax futures and swaps contracts entered
                         into as part of a dynamic hedge program to manage
                         equity and growth interest rate risks in Cigna's
                         Run-off Reinsurance operations. Cigna recorded
                         related offsets in Benefits and Expenses to adjust
(1)                      liabilities for reinsured guaranteed minimum death
                         benefit and guaranteed minimum income benefit
                         contracts. For more information, please refer to
                         Cigna's Form 10-K for the period ended December 31,
                         2012, which is expected to be filed on February 28,
                         2013.
                         
                         Adjusted income (loss) from operations is segment
                         earnings (loss) (shareholders' net income (loss)
                         before net realized investment gains (losses))
                         excluding results of Cigna's guaranteed minimum
(2)                      income benefits business and special items. See
                         Exhibit 2 for a detailed reconciliation of adjusted
                         income (loss) from operations to segment earnings
                         (loss) and shareholders' net income presented in
                         accordance with generally accepted accounting
                         principles.
                         
                         The three months and year ended December 31, 2012
(3)                      includes pre-tax charges of $104 million ($68 million
                         after-tax) resulting from litigation matters in
                         Corporate.
                         
                         The year ended December 31, 2012 includes pre-tax
                         charges of $77 million ($50 million after-tax) for a
                         realignment and efficiency plan: $65 million pre-tax
(4)                      ($42 million after-tax) in Global Health Care; $9
                         million pre-tax ($6 million after-tax) in Global
                         Supplemental Benefits; and $3 million pre-tax ($2
                         million after-tax) in Group Disability and Life.
                         
                         The year ended December 31, 2012 includes pre-tax
                         charges of $53 million ($40 million after-tax) for
(5)                      costs associated with the 2012 acquisition of
                         HealthSpring: $42 million pre-tax ($33 million
                         after-tax) in Corporate and $11 million pre-tax ($7
                         million after-tax) in Global Health Care.
                         
                         The year ended December 31, 2012 includes a pre-tax
(6)                      charge of $20 million ($13 million after-tax)
                         resulting from a litigation matter in Global Health
                         Care.
                         
                         The three months and year ended December 31, 2011
                         includes pre-tax charges of $39 million ($31 million
                         after-tax) for costs associated with acquisitions:
                         $35 million pre-tax ($28 million after-tax) in
(7)                      Corporate for the 2012 acquisition of HealthSpring
                         and $4 million pre-tax ($3 million after-tax) in
                         Global Supplemental Benefits for the 2011 acquisition
                         of FirstAssist Group Holdings Limited
                         (“FirstAssist”).
                         
                         The year ended December 31, 2011 includes a net tax
                         benefit of $24 million resulting from the completion
                         of the 2007 and 2008 IRS examinations: after-tax
(8)                      benefit of $1 million in Global Health Care;
                         after-tax benefit of $5 million in Group Disability
                         and Life; after-tax benefit of $4 million ($9 million
                         pre-tax charge) in Other Operations and an after-tax
                         benefit of $14 million in Corporate.

                                                                                                                                                                                                                                      
CIGNA CORPORATION
SUPPLEMENTAL FINANCIAL INFORMATION (unaudited)                                                                                                                                                                                            Exhibit 2
RECONCILIATION OF ADJUSTED INCOME (LOSS) FROM OPERATIONS TO SHAREHOLDERS' NET INCOME                                                                                                                                                    
(Dollars in millions, except per share amounts)
                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                               
                Diluted                                                               Global                          Global Supplemental            Group Disability             Run-off                        Other
                Earnings Per Share                  Consolidated                      Health Care                     Benefits                       and Life                     Reinsurance                    Operations               Corporate
Three Months    4Q12       4Q11       3Q12        4Q12       4Q11     3Q12        4Q12       4Q11   3Q12        4Q12      4Q11    3Q12       4Q12      4Q11  3Q12       4Q12      4Q11    3Q12       4Q12    4Q11  3Q12     4Q12      4Q11     3Q12
Ended,
                                                                                                                                                                                                                                                               
Adjusted
income (loss)
from            $ 1.57      $ 1.05      $ 1.69      $ 452       $ 293     $ 489       $ 397       $ 240   $ 419       $ 38       $ 15     $ 40       $ 56       $ 58   $ 66       $ -        $ (1 )   $ (7   )   $ 19     $ 21   $ 22     $ (58  )   $ (40 )   $ (51  )
operations
(1)
                                                                                                                                                                                                                                                               
Results of
guaranteed
minimum           0.02        0.03        0.11        7           7         32          -           -       -           -          -        -          -          -      -          7          7        32         -        -      -        -          -         -
income
benefits
business (2)
                                                                                                                                                                                                                                                               
Special
item(s),
after-tax:
Charges
associated
with              (0.24 )     -           -           (68   )     -         -           -           -       -           -          -        -          -          -      -          -          -        -          -        -      -        (68  )     -         -
litigation
matters (3)
Charge for
realignment
and               -           -           (0.17 )     -           -         (50   )     -           -       (42   )     -          -        (6   )     -          -      (2   )     -          -        -          -        -      -        -          -         -
efficiency
plan (4)
Costs
associated
with              -           (0.11 )     (0.04 )     -           (31 )     (12   )     -           -       -           -          (3 )     -          -          -      -          -          -        -          -        -      -        -          (28 )     (12  )
acquisitions
(5)(7)
                                                                                                                                                                                                                        
Segment
earnings          1.35        0.97        1.59        391         269       459       $ 397     $ 240  $ 377      $ 38     $ 12   $ 34      $ 56     $ 58  $ 64      $ 7      $ 6    $ 25      $ 19    $ 21  $ 22     $ (126 )  $ (68 )  $ (63  )
(loss)
Net realized
investment        0.06        0.01        0.02        15          4         7
gains, net of
taxes
                                                                 
Shareholders'   $ 1.41    $ 0.98    $ 1.61     $ 406     $ 273   $ 466   
net income
                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                               
                Diluted                                                               Global                          Global Supplemental            Group Disability             Run-off                        Other
                Earnings Per Share                  Consolidated                      Health Care                     Benefits                       and Life                     Reinsurance                    Operations                          Corporate
Year Ended       2012               2011      2012             2011      2012           2011      2012           2011     2012         2011     2012           2011     2012        2011    2012            2011 
December 31,
                                                                                                                                                                                                                                                               
Adjusted
income (loss)
from            $ 5.99                  $ 4.96      $ 1,734               $ 1,361     $ 1,480             $ 1,104     $ 148               $ 100      $ 281             $ 290      $ (29  )            $ (48  )   $ 82            $ 85     $ (228 )             $ (170 )
operations
(1)
                                                                                                                                                                                                                                                               
Results of
guaranteed
minimum           0.10                    (0.49 )     29                    (135  )     -                   -           -                   -          -                 -          29                  (135 )     -               -        -                    -
income
benefits
business (2)
                                                                                                                                                                                                                                                               
Special
item(s),
after-tax:
Charges
associated
with              (0.28 )                 -           (81   )               -           (13   )             -           -                   -          -                 -          -                   -          -               -        (68  )               -
litigation
matters
(3)(6)
Charge for
realignment
and               (0.17 )                 -           (50   )               -           (42   )             -           (6   )              -          (2   )            -          -                   -          -               -        -                    -
efficiency
plan (4)
Costs
associated
with              (0.14 )                 (0.12 )     (40   )               (31   )     (7    )             -           -                   (3   )     -                 -          -                   -          -               -        (33  )               (28  )
acquisitions
(5)(7)
Completion of
IRS               -                       0.09        -                     24          -                   1           -                   -          -                 5          -                   -          -               4        -                    14
examination
(8)
                                                                                                                                                                                                                        
Segment
earnings          5.50                    4.44        1,592                 1,219     $ 1,418         $ 1,105    $ 142           $ 97      $ 279         $ 295     $ -             $ (183 )   $ 82         $ 89     $ (329 )          $ (184 )
(loss)
Net realized
investment        0.11                    0.15        31                    41
gains, net of
taxes
                                                                 
Shareholders'   $ 5.61              $ 4.59     $ 1,623           $ 1,260 
net income

    
      Cigna measures the financial results of its segments using "segment
      earnings (loss)", which is defined as shareholders' net income (loss)
(1)   before net realized investment gains (losses). Adjusted income (loss)
      from operations is defined as segment earnings excluding special items
      and results of Cigna's guaranteed minimum income benefits business.
      
(2)   Results of guaranteed minimum income benefits business on a pre-tax
      basis for:
      - three months and year ended December 31, 2012 were gains of $10
      million and $44 million, respectively;
      - three months and year ended December 31, 2011 were gains of $11
      million and losses of $208 million, respectively; and
      - three months ended September 30, 2012 were gains of $50 million.
      
      The three months and year ended December 31, 2012 includes pre-tax
(3)   charges of $104 million ($68 million after-tax) resulting from
      litigation matters in Corporate.
      
      The year ended December 31, 2012 includes pre-tax charges of $77 million
      ($50 million after-tax) for a realignment and efficiency plan: $65
(4)   million pre-tax ($42 million after-tax) in Global Health Care; $9
      million pre-tax ($6 million after-tax) in Global Supplemental Benefits;
      and $3 million pre-tax ($2 million after-tax) in Group Disability and
      Life.
      
      The year ended December 31, 2012 includes pre-tax charges of $53 million
      ($40 million after-tax) for costs associated with the 2012 acquisition
(5)   of HealthSpring: $42 million pre-tax ($33 million after-tax) in
      Corporate and $11 million pre-tax ($7 million after-tax) in Global
      Health Care.
      
      The year ended December 31, 2012 includes a pre-tax charge of $20
(6)   million ($13 million after-tax) resulting from a litigation matter in
      Global Health Care.
      
      The three months and year ended December 31, 2011 includes pre-tax
      charges of $39 million ($31 million after-tax) for costs associated with
(7)   acquisitions: $35 million pre-tax ($28 million after-tax) in Corporate
      for the 2012 acquisition of HealthSpring and $4 million pre-tax ($3
      million after-tax) in Global Supplemental Benefits for the 2011
      acquisition of FirstAssist Group Holdings Limited (“FirstAssist”).
      
      The year ended December 31, 2011 includes a net tax benefit of $24
      million resulting from the completion of the 2007 and 2008 IRS
(8)   examinations: after-tax benefit of $1 million in Global Health Care;
      after-tax benefit of $5 million in Group Disability and Life; after-tax
      benefit of $4 million ($9 million pre-tax charge) in Other Operations
      and an after-tax benefit of $14 million in Corporate.

Contact:

Cigna Corporation
Ted Detrick, Investor Relations, 215-761-1414
Edwin.Detrick@Cigna.com
or
Matthew Asensio, Media Relations, 860-226-2599
Matthew.Asensio@Cigna.com