Cigna sees rise in 2Q revenues, profits amid commercial customer growth

Bloomfield-based Cigna Corp. reported Thursday morning higher second quarter profits and revenues amid growth in its commercial customer base.

The health insurer said its second quarter profits totaled $1.6 billion, or $4.90 per share, up 6.3% from a year earlier when it reported $1.5 billion in profits, or $4.25 per share. 

Total revenues for the second quarter were $45.5 billion, up 5.4% from the year-ago period. 

The company’s bottom line was buoyed by growth in its U.S. commercial customer base. It had 14,653 commercial customers at the end of the quarter, up 6.5% from a year ago. It also improvised its medical care ratio, which calculates the amount spent on care vs. how much money the company received from premiums. Its medical care ratio fell to 80.7%, down nearly four percentage points from the previous year, the company announced.