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New York Life Completes Acquisition of Cigna's Group Life and Disability Insurance Business; Acquisition enhances New York Life's portfolio of strategic businesses, contributes to financial strength, and increases value for clients, producers, and policy

Dec 31, 2020 - Business Wire
Mergers and Acquisitions-Organizational Restructuring

New York Life, America's largest mutual life insurer1, today announced the completion of the company's acquisition of Cigna's group life, accident, and disability insurance business. The $6.3 billion acquisition, which was first announced on December 18, 2019, adds approximately 3,000 employees, over nine million customers2, and enhances New York Life's portfolio of strategic businesses, which support the core retail life insurance franchise and bolster the company's financial strength. The new ...