Cigna reports higher second-quarter profit on low medical costs

August 1 Thu Aug 1, 2013 6:14am EDT

August 1 (Reuters) - Cigna Corp said on Thursday that second-quarter profit rose as medical costs were low and revenue increased from health insurance, supplemental benefit plans like dental and vision, and disability and life insurance.

The company reported net income of $505 million, or $1.76 per share, up from $380 million, or $1.31 per share, a year earlier.

Excluding investment gains and a loss on its pharmacy benefit management contract, earnings were $1.78 per share.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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