Cigna To Pay $295M For Senior-Focused AFG Insurance Unit

Law360, New York (May 11, 2012, 3:02 PM EDT) -- Health insurance juggernaut Cigna Corp. will fork over roughly $295 million for Cincinnati-based American Financial Group Inc.'s Medicare and critical illness insurance divisions to strengthen Cigna's foothold in the booming senior market, the companies said Thursday.

The cash deal, which hands over Great American Supplemental Benefits Group to Cigna, is expected to close during the second half of this year pending regulatory approval.

With the acquisition, Cigna will continue its efforts to become a key player in senior benefits. The pickup will build on the company's...
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