Review Long Term Health Insurance London

CIGNA Eyes FirstAssist Insurance

The financial terms of the deal were not disclosed. Connecticut based Cigna expects that the addition of FirstAssist’s products and services will widen its product portfolio, providing more breadth in terms of product choice and, thereby, enabling it to penetrate further into the UK and across the globe.

Cigna will also be able to leverage the company’s existing 3 million policy holders in the United Kingdom. Cigna will acquire the company from Barclays Private Equity of Barclays PLC ( BCS Snapshot Report ). The deal is expected to see light at the end of the year. 

International Business Providing Diversification

Cigna boasts a diversified health services business with significant international operations and licenses in 27 countries. While the Health care business remains a focus for the company with 70% of business in fee based offerings, the International business along with the Group Life and Disability business provides diversification both nationally and globally, contributing as much as 20% to operating earnings.  Cigna expects 2011 earnings in the International business of $275-295 million.

Earlier Strategic Investments

Last year Cigna acquired Belgium-based Vanbreda International for $400 million, making it the leading provider of expatriate benefits. In the second quarter the Vanbreda unit saw earnings growth above 20% year over year and contributed approximately $5 million after-tax to operating income. We expect more significant accretion in 2012.

Apart from buying whole businesses, Cigna is also considering joint ventures in regions that have restrictive regulations, such as India. Last year the company initiated negotiations with state-owned banks in India for joint ventures to tap the insurance market in the region.

On the critical list: health care | London | News | London Free Press

The issue that defines us as Canadians -- health care -- is one of the hot-button issues in the Ontario election.

No wonder. Health care consumes 43 cents of every dollar collected in taxes or transferred from the federal government, according to the Conference Board of Canada, with the growth in spending the past 15 years averaging 6.5% annually.

If that's not enough, the challenge is daunting to deliver services people expect and need: One in six hospital beds is occupied by someone who no longer needs it but can't be cared for at home because of a lack of support services, or can't find a spot in long-term care. That bottleneck has backed up our emergency rooms, creating delays, and in London has caused patients to be placed in hospital wards whose staff lack the expertise to provide optimal care.

Those pressures will grow worse as our population ages: In the next decade the number of Ontarians over age 75 is expected to grow 32%.

While all Ontarians will have a say over the future of health care when they go to the polls Oct. 6, Londoners will play a special role -- we'll decide whether to endorse the efforts of Liberal Health Minister Deb Matthews in her riding of London North Centre or vote her out.

If anyone had any doubt of the high stakes here, consider that last week Matthews declared her government will foot an estimated $15-million tab to demolish South Street Hospital and clean that site so London, which owns the land, can sell it for development, land that happens to be in Matthew's riding.

Matthews wasn't shy about linking the funding decision to her influential seat in cabinet.

Nor was NDP health critic France Gelinas of the Nickel Belt.

"The only reason (Matthews) made the announcement is she wants to hold on to her seat and we're in an election. The minute all the other municipalities hear London get this from the province they will all be in line (for money)," Gelinas said this week.

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