e Market, and Select segments. In marketing these products, the company primarily sells through insurance brokers and consultants, and employed a direct sales force that consisted of approximately 265 sales professionals in 27 office locations as of December 31, 2015. Other Operations Other Operations includes the following businesses: Corporate-owned Life Insurance (COLI) The principal products of the COLI business are permanent insurance contracts sold to corporations to provide coverage on the lives of certain employees for the purpose of financing employer-paid future benefit obligations. Permanent life insurance provides coverage that, when adequately funded, does not expire after a term of years. The contracts are primarily non-participating universal life policies. Run-off Settlement Annuity Business The company’s settlement annuity business is a closed, run-off block of single premium annuity contracts. These contracts are primarily liability settlements with approximately 21% of the liabilities associated with payments that are guaranteed and not contingent on survivorship. For contracts that involve non-guaranteed payments, such payments are contingent on the survival of one or more parties involved in the settlement. Individual Life Insurance and Annuity and Retirement Benefits Businesses This business includes the sale of the individual life insurance and annuity business, and the sale of the retirement benefits business. Strategy The company’s strategy is to ‘Go Deep’, ‘Go Global’, and ‘Go Individual’ with a differentiated set of medical, dental, disability, life and accident insurance and related products and services offered by its subsidiaries. Regulation The expansion of the company’s operations into foreign countries increases its exposure to certain U.S. laws, such as the Foreign Corrupt Practices Act of 1977. The Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act mandate changes affecting insured and self-insured health benefit plans that impact the company’s business model, including its relationship with current and future customers, producers and health care providers, products, services, processes and technology. Certain of the company’s subsidiaries are pharmacies that dispense prescription drugs to participants of benefit plans administered or insured by its HMO and insurance company subsidiaries. These pharmacy-subsidiaries are subject to state licensing requirements and regulation, as well as U.S. Drug Enforcement Agency registration requirements. The company’s operations in countries outside the United States are subject to local regulations in the locations in which its subsidiaries conduct business; in some cases, are subject to regulations in the locations of customers; and in all cases, are subject to the Foreign Corrupt Practices Act of 1977. The company’s domestic subsidiaries sell majority of their products and services to sponsors of employee benefit plans that are governed by the Employee Retirement Income Security Act of 1974, as amended. The company’s domestic subsidiaries are subject to requirements imposed by the Employee Retirement Income Security Act of 1974, as amended affecting claim payment and appeals procedures for individual health insurance and insured and self-insured group health plans and for the insured dental, disability, life and accident plans that the company administers. Several of the company’s subsidiaries engage in businesses that are subject to federal Medicare regulations, such as those offering individual and group Medicare Advantage (HMO) coverage; those offering Medicare Pharmacy (Part D) products that are subject to federal Medicare regulations; and billing of Medicare Part B claims on behalf of providers with whom the company has contractual management agreements. Several of the company’s subsidiaries are also subject to reporting requirements pursuant to Section 111 of the Medicare, Medicaid and SCHIP Extension Act of 2007. The company is also subject to regulation by the Office of Foreign Assets Control of the Department of the Treasury, which administer
cigna corp (CGN:Frankfurt)
900 Cottage Grove Road
Bloomfield, CT 06002
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