UPDATE 4-Cigna profit beats as non-health units shine

* Q2 EPS ex-items of $1.14 vs 96-cent estimate

* Sees 2009 adjusted EPS of $3.80-$4.00

* Profit jumps in disability/life, international units

* Expects steeper drop in year-end enrollment

* Shares rise 5.8 percent (Recasts; adds analyst comment)

By Lewis Krauskopf

NEW YORK, July 30 (Reuters) - Insurer Cigna Corp (CI.N) posted a higher-than-expected quarterly profit on Thursday, helped by growth in its disability and life, and international segments, while earnings at its main healthcare unit only dipped slightly.

Its shares rose 5.8 percent as the large U.S. health insurer nudged up its full-year profit forecast. Cigna stood by its expectation for 2009 healthcare earnings even as it sees a steeper decline in year-end health plan enrollment.

Analysts said investors could have been concerned about the report from Cigna after disappointing results from Aetna Inc (AET.N) and weak results for WellPoint Inc's (WLP.N) business serving employers.

"People were sort of on the fence about what Cigna was going to look like and the underlying healthcare business seems to be looking good," Morningstar analyst Matthew Coffina said.

The industry is grappling with pressure on employer-based enrollment caused by widespread layoffs in the weak economy, while investors are closely watching efforts by Congress to overhaul the health system.

Cigna's second-quarter net income rose to $435 million, or $1.58 per share, from $272 million, or 96 cents per share, a year earlier.

Excluding special items, adjusted income of $1.14 a share was well ahead of the 96-cent average forecast of analysts, according to Reuters Estimates.

Revenue fell 7.7 percent to $4.48 billion, short of the $4.81 billion expected by analysts.

Several analysts pointed to Cigna's non-healthcare segments for driving the earnings beat.

Profit in the disability and life insurance segment jumped 23 percent to $90 million, while profit in its international unit rose 31 percent to $63 million.

Earnings in its healthcare segment dipped 2 percent to $177 million, as operating efficiencies helped counter a 7 percent decline in enrollment, to 11.2 million members.

"(The) beat relative to our projections was in the international and disability and life segments, with healthcare in line with our expectations," Ana Gupte, an analyst with Sanford Bernstein, said in a research note.

Cigna expects full-year earnings, excluding items, of $3.80 per share to $4 per share, up from its prior view of $3.70 to $3.90.

It now expects its medical membership to fall some 5 percent to 5.5 percent, compared with a previously projected 3 percent to 4 percent drop. It also kept its forecast for earnings from its healthcare segment.

Cigna's shares rose $1.55 to $28.13 in afternoon trading on the New York Stock Exchange. (Reporting by Lewis Krauskopf; Editing by Lisa Von Ahn and Gerald E. McCormick)