Bloomfield health insurer Cigna said it grew its fourth-quarter profits 29 percent, thanks to higher revenues from premiums and its mail order pharmacy business.
Cigna’s net income for the three months ended Dec. 31 was $467 million, or $1.77 per diluted share, up from $361 million, or $1.29, in the final quarter of 2013.
Higher revenue from premiums, fees and its mail order pharmacy business drove the gains. The fourth quarter of 2013 included a 15-cent-per-share charge related to an organizational efficiency plan.
For the full year, the insurer had net income of $2.1 billion, or $7.83 per diluted share, up from $1.48 billion, or $5.18, in the prior year.
All three of Cigna’s business segments — global health care, global supplemental benefits, and group disability and life — posted profit gains for both the quarter and the year.
