Cigna said Friday it had completed its acquisition of Great American Supplemental Benefits.
The $305 million cash deal makes the Bloomfield insurer one of the largest producers, distributors and marketers of supplemental health care and related products in the United States. It also enhances Cigna’s distribution network of agents and brokers and extends its global direct-to-consumer retail channel.
Great American Supplemental Benefits Group, with 2011 premiums of $300 million and more than 200,000 current customer relationships, will now do business as Cigna Supplemental Benefits. It had been part of American Financial Group Inc.
Cigna maintains sales capability in 30 countries and jurisdictions, and has approximately 71 million customer relationships throughout the world.
