Cigna launches new individual global coverage plan

NEW YORK, March 30 (Reuters) – Cigna Corp (CI.N: Quote, Profile, Research) is
expanding its business that provides health coverage to those
working abroad by offering a product directly to individuals.

The individual market represents a new area of coverage for
Cigna’s so-called expatriate business, which has previously
catered to businesses with employees working abroad.

Cigna said the plans would allow individuals to carry their
insurance around the world, and would be attractive to wealthy
individuals as well as those who are self-employed.

It estimates the overall market for the individual
expatriate business is at least $1 billion, and said it expects
to take a “sizable portion” of the market over time. The
company launched a website on Wednesday, www.cignaglobal.com,
to start selling the plans.

Philadelphia-based Cigna is focused on increasing its
international business, which amounted to about 18 percent of
net income last year. Aside from the expatriate insurance
plans, the international business also includes individual
policies that supplement government health programs for
residents in Asia and Europe.

(Reporting by Lewis Krauskopf; Editing by Richard Chang)

Cigna launches new individual global coverage plan