“Cigna Corp. (CI), the fourth-biggest U.S. health insurer by market value, raised its 2012 forecast and said profit more than doubled after an acquisition boosted revenue from government-backed Medicare plans.
Third-quarter net income jumped to $466 million, or $1.61 a share, compared with $183 million, or 67 cents, a year earlier, when Bloomfield, Connecticut-based Cigna took a charge for a discontinued business unit, the company said in a statement today. Earnings excluding one-time items of $62 million were $1.69 a share, beating by 33 cents the average of 17 analyst estimates compiled by Bloomberg.”
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