CIGNA Reports Lower 4th Quarter Net Income

The health insurance unit provided major medical coverage for 14 million U.S. residents at the end of 2001, about as many as it covered at the end of 2000.

Average revenue per major medical member increased 10%, to $622 on $8.9 billion in premiums and premium equivalents.

Some health insurance analysts have wondered whether the Sept. 11, 2001, attacks would increase interest in employee assistance programs. CIGNA reports its EAP enrollment increased 10%, to 1.2 million, in the fourth quarter.

Net income at the retirement services unit fell to $25 million on $55 billion in assets, from $64 million on $55 billion in assets, and net income at the international benefits unit increased to $46 million on $214 million in premium revenue, from $16 million on $518 million in premium revenue.

Revenue at the international benefits unit was down in part because of the sale of CIGNA's interest in the Japanese life insurance unit, CIGNA says.