Bloomfield, Conn.-based Cigna reported net income of $813 million in the second quarter of 2017, illustrating a year-over-year 59.4% increase from $510 million in the comparable duration last year. The payer attributed the earnings progress to cost management methods and increased revenues throughout its business plans. In addition, Cigna reported a $47 million after-tax benefit resulting from its terminated merger with Indianapolis-based Anthem.
Cigna recorded incomes of $10.3 billion in the 3 months ended June 30, compared to $10 billion in the very same period of 2016. The almost 4% year-over-year boost portrays progress in the targeted client sections of payer.
Costs in the second quarter of 2017 amounted to $9.2 billion for Cigna, up somewhat from $9.15 billion taped in the 2nd quarter of 2016 year. Year-to-date, Cigna reported earnings of $1.4 billion compared to $1 billion during the very first 6 months of 2016.