cigna8k.htm
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report (Date of earliest event reported) September
19, 2008
CIGNA
Corporation
(Exact
name of registrant as specified in its charter)
|
Delaware
(State
or other jurisdiction of incorporation)
|
1-08323
(Commission
File Number)
|
06-1059331
(IRS
Employer
Identification
No.)
|
Two
Liberty Place, 1601 Chestnut Street
Philadelphia, Pennsylvania
19192
(Address
of principal executive offices) (Zip Code)
Registrant's
telephone number, including area code:
(215)
761-1000
Not
Applicable
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[
] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[
] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[
] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[
] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item
8.01. Other Events.
CIGNA
Corporation (together with its consolidated subsidiaries, the “Company”) has a
high quality, well-diversified investment portfolio, including investments in
the financial services industry. At June 30, 2008, the Company
reported total invested assets of approximately $18.3 billion and shareholders’
equity of $4.8 billion. As of September 19, 2008, the book (amortized
cost) value of the Company’s investment in debt securities of Lehman
Brothers Holdings Inc. and its affiliates (“Lehman”) and American
International Group, Inc. and its affiliates (“AIG”) was approximately $10
million and $30 million, respectively. None of the AIG debt
securities the Company currently holds is debt of the parent holding company,
American International Group, Inc. The Company is continuing to
assess the recoverability of these investments.
The
Company’s invested assets as of September 19, 2008, do not include any common
stock or preferred stock investments in AIG or Lehman and the Company is not
engaged in any derivative transactions with AIG or Lehman as counterparties. In
addition, the Company’s invested assets as of September 19, 2008 do not include
any common stock investments in the Federal Home Loan Mortgage Corporation
(“Freddie Mac”) and the Federal National Mortgage Association (“Fannie Mae”) and
include a total of approximately $13 million of preferred stock investments in
Fannie Mae and Freddie Mac.
The
Company has various insurance and reinsurance arrangements in place with
regulated insurance affiliates of AIG with recoverable amounts estimated to
be $20 million based on the most recently available information. The
Company does not have any reinsurance arrangements in place with
Lehman.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
|
CIGNA
CORPORATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date: September
19, 2008
|
By:
|
/s/ Michael W. Bell
|
|
|
|
Michael
W. Bell
|
|
|
|
Executive
Vice President and
|
|
|
|
Chief
Financial Officer
|