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FOR IMMEDIATE RELEASE
OLDWICK - JULY 21, 2016 05:02 PM (EDT)
A.M. Best has commented that the under review with developing implications status and the financial strength ratings, issuer credit ratings and issue ratings of Cigna Corporation (Cigna) (Bloomfield, CT) and its subsidiaries remain unchanged.
This comment by A.M. Best follows the announcement by the U.S. Department of Justice (DOJ) and attorney generals from multiple states that they have filed suit to block the pending merger with Anthem Inc. (Anthem). Cigna has commented that it is currently evaluating its options under the agreement, while Anthem has announced that it is fully committed to challenging the DOJ’s decision in court and is open to reaching a settlement with the DOJ that would allow the transaction to be completed. The ratings will remain under review until more clarity regarding the future of the lawsuit and merger becomes available. This could include a path for the completion of the transaction or the two organizations remaining as separate legal entities.
This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source.