CONNECTICUT GENERAL LIFE INSURANCE CO history

The Great Chicago Fire, which started on October 8, 1871, burned about 17,450 buildings valued at $200 million.

The Boston Fire of November 9, 1872, gutted 600 buildings at a cost of $75 million, causing the collapse of 25 more insurance companies.

CM managed to weather the financial storm created by the depression of 1873, which followed the downfall of the nation’s most influential banking house, Jay Cooke and Company, and a ten-day closing of the New York Stock Exchange.

By 1880 the firm was again stable and began to grow.

1887 INA appoints agents in London, Vienna, and Buenos Aires, expanding its business internationally.

In 1890 INA established a lake-marine department in Chicago to cover risks during transit on rivers, lakes, and canals.

1897 INA expands business into China.

1898 Under new management, Benjamin Rush, CIGNA introduces a new method to calculate risk assessment.

In 1900 INA posted the first profit in its marine line for many years, and the line remained profitable until World War I. Rush's work earned him the title "father of modern marine underwriting."

Russell died in 1901 and was succeeded by Robert W. Huntington, who had joined the company as a clerk 11 years before.

Four months after Greene’s death in March 1905, the Senate Assembly of the New York legislature launched an investigation into the business affairs of insurance companies.

1906 San Francisco earthquake causes widespread fires and extensive damage to the city.

Health insurance starts getting attention during the 1912 presidential election, when Theodore Roosevelt proposes funds to assist Americans with health care costs.

1913: CG begins offering group life insurance.

Rush succeeded Eugene Ellison as president in 1916, in time to face claims due to attacks by German U-boats--INA paid $21,740 as its share of the coverage for the Lusitania, for example--and fires caused by sabotage in United States munitions plants.

Group insurance developed slowly for CG until 1917, when changes in corporate taxes made it a deductible expense.

That same year, Connecticut General forms a new accident department, followed by a new group department in 1918.

1919 CG introduces Accident and Sickness insurance products.

By the end of World War I, demand for this type of coverage had grown so much that INA organized a casualty affiliate, Indemnity Insurance Company, in 1920.

1921 INA withdraws its membership from the AFIA and independently grows its business.

1924 CG writes its first Group Pension contract.

1925 INA moves to its new head office building in Philadelphia.

In 1926 the company moved into a new home office located in the Lord’s Hill section of Hartford, and later that year Robinson died, leaving his duties as president to James Lee Loomis.

Despite business growth, Loomis was concerned about the nation’s economy, and he was proved right by the collapse of the New York Stock Exchange in 1929.

The company survived the Depression without major losses, and in 1930 the board appointed one of CM’s most successful agency managers, Peter M. Fraser, as new vice president.

The Great Depression hit Indemnity hard, but in 1932 INA brought in John A. Diemand, who had extensive experience in casualty insurance, to improve the company's performance.

1937 CG becomes a leader in providing Group Health Insurance products, covering hospital and surgery.

1942 INA insures empoyees working on the Manhatten Project, a research and development program that introduced the first atomic bomb.

When Fraser became president in 1945, the company began a period of growth.

1946 INA expands internationally, providing products and services in Europe, Adia, Africa, Central and South America.

By 1949, however, AFIA was back on its feet and ready to expand along with the booming postwar economy.

1950 CG introduces Major Medical insurance policy, first product in the United States.

Four years later, in 1954, Connecticut General introduces the first comprehensive medical case that combines group health and major medical into a single contract.

In addition to its ongoing operations described above, Cigna also has certain run-off operations, including a Run-off Reinsurance segment. , The building was designed by Gordon Bunshaft of Skidmore, Owings and Merrill, on a 280-acre (110 ha) campus, and was completed in 1957.

1958 INA purchases its first electronic data processor, an IBM 705 computer.

1959 CG purchases its first electronic data processor, an RCA 501 computer.

In 1962 CG purchased Aetna Insurance Company (Aetna), a major firm in fire and casualty insurance, in order to broaden its position in insurance.

His later buildings show a departure from the Miesian ideal, beginning with the Beinecke Rare Book & Manuscript Library, Yale University (1963), and reaching a climax with the low, horizontal travertine Lyndon…

1964 CG introduces Group Dental insurance products, for business with more than 35 employees.

1965 INA acquires Pacific Employers Group (PEG), a workers compensation business scheme.

1968 CG organises its business into three tiers CG Fund, CG Income Fund, and CG Companion Fund.

By 1970 eight of every ten CM agents had attended college, and the trend toward a better-educated sales force had a firm foothold.

The first expatriate employer group policy is written in 1977.

1978: INA diversifies into health insurance.

In 1981 the company saw a merger with Connecticut General Corporation (CG) as a way to achieve that goal.

CM also developed a program to further improve agents’ knowledge and skills in 1983.

1984: CIGNA acquires AFIA and merges it into its existing international operations.

Healthsource had been founded in 1985 by a group of doctors in Hooksett, New Hampshire, as an HMO serving rural areas and smaller cities.

In 1987 the Aetna Insurance Company subsidiary was renamed CIGNA Property and Casualty Insurance Company.

1989 CIGNA International Financial Services is formed to offer life and health insurance products internationally.

1990: CIGNA acquires EQUICOR, the sixth largest provider of employee benefits in the United States.

1992 CIGNA has been in operation for 200 years.

1993 CIGNA adopts a new logo, known as the 'tree of life'

Since 1995, Cigna and its employees have contributed $22.3 million to the March of Dimes.

1996: Regulators approve CIGNA's plan for a split in its domestic property and casualty operations, between ongoing policies and previous policies related to asbestos and environmental liabilities.

1997: Healthsource, a New Hampshire-based managed-care firm, is acquired.

1998: The company's United States individual life insurance and annuity operations are sold to Lincoln National Corporation.

1999: CIGNA sells its domestic and international property and casualty operations to ACE Limited of Bermuda.

Continuing to narrow the company's focus, Hanway exited from the reinsurance business during 2000.

The faltering economy and stock market of 2001 also were having negative effects on CIGNA's retirement and investment services operations.

2002 CIGNA Vision Care is formed.

Former elements of the campus include the Gillette Ridge Golf Club, developed in 2004. ' The company ranked No.

2005 CIGNA is awarded for “Best Health Plan Initiative for Consumer Directed Health Care” and “Best Technology Introduced by a Health Plan Organization for Employee/Consumer Choice”.

2006 CIGNA acquires Star HRG, a low cost health plan and coverage for casual and part time employees.

2009 CIGNA receives gold in 2009 Gartner & 1 to 1 Customer Experience Excellence Award.

Case opinion for US 7th Circuit CONNECTICUT GENERAL LIFE INSURANCE COMPANY v. <<. It was listed on the National Register of Historic Places on January 27, 2010.

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Anthem confirmed it had reached a deal to buy Cigna on July 24, 2015.

In November 2017, a lawsuit including Cigna as one of the defendants was filed.

Cigna is the first payer to commit to the US Department of Health & Human Services 50/90 goals (50% of payments in alternative payment models and 90% in value-based arrangements by 2018).