Bloomfield insurer Cigna said Thursday it’s bullish about the rest of 2013, raising its earnings outlook for the year after posting a 19 percent increase in third quarter profits.
Cigna said it made $553 million, or $1.95 per share, in profits during the third quarter, compared to$466 million, or $1.61 per share, a year earlier.
The company’s revenues grew 10 percent in the quarter to $8.1 billion.
The better-than-expected results reflected Cigna’s ability to better manage medical costs and operating expenses, the company said.
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Cigna also raised its full year outlook. The insurer now says it expects to generate between $1.9 billion to $1.96 billion in revenue this year, or $6.70 to $6.90 per share.
