UPDATE 2-Cigna CFO Hagan leaves company

Wed Sep 1, 2010 5:28pm EDT

* Thomas McCarthy named acting CFO

* Cigna: departure not caused by financial, ethics dispute

* Hagan will receive $3.4 mln package (Adds details from filing, company comment)

LOS ANGELES, Sept 1 (Reuters) - U.S. insurer Cigna Corp (CI.N) said on Wednesday that Chief Financial Officer Annmarie Hagan has left the company, effective immediately.

Thomas McCarthy, currently the company's vice president and treasurer, was named acting chief financial officer.

Cigna said in a regulatory filing that Hagan's departure was not caused by any dispute over accounting practices, financial disclosures, ethics policies of other matters.

It also said she will receive salary and other benefits totaling about $3.4 million.

Cigna spokesman Gene Reineke said in an emailed statement that it was a mutual decision between Annmarie and the company in terms of why she is leaving.

He also said there will be a search conducted for a new permanent CFO.

McCarthy was granted a cash bonus of at least $300,000 and a stock grant with a potential value of $450,000.

Cigna's main business is health insurance, but about 40 percent of its earnings come from disability, life and international businesses. (Reporting by Deena Beasley; Editing by Steve Orlofsky and Tim Dobbyn)

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