CIGNA reports 52% increase in first quarter earnings
CHIOTAKIS: U.S. House Ways and Means Committee Chairman Dave Camp -- the Republican from Michigan -- said Thursday his panel has no plans to push through a GOP proposal that would privatize Medicare for future retirees.The fate of Medicare and the nation's health care overhaul are making keeping health insurance companies on their toes these days. And within that new landscape, insurer Cigna said today it managed to make a healthy profit. Last quarter net income was up 52 percent.
David Cordani is CEO of CIGNA, which is one of the biggest health insurers in the country. And he's with us live this morning. Hi David.
DAVID CORDANI: Good morning Steve. How are you today?
CHIOTAKIS: Doing well. What a quarter. What helped you get to this place?
CORDANI: It was a very strong quarter. The quarter's actually a continuation of a strong 2010. As we implemented our growth strategy all focused around health and productivity improvement. And we delivered another very strong quarter aided by great client retention, good cross selling and strong new adds of relationships for clients to our portfolio.
CHIOTAKIS: So, keeping clients -- customers i.e. Lots of movement David on Capitol Hill to repeal parts of health care form. Does that change how you plan for the future business environment?
CORDANI: Over the near term, no. We're wholly focused on being compliant with the law of the land as well as being a good implementation partner for legislative and regulatory leaders. However, what it does underscore is that it's a very dynamic fragile environment and we see a lot of change in the marketplace. And inside change we see opportunities. For example we see a changing landscape for seniors -- solutions, and that's an example of a wonderful growth opportunity as we look to the future.
CHIOTAKIS: You're talking Medicare and other things like that.
CORDANI: Correct. Including Medicare, but not limited to Medicare.
CHIOTAKIS: All right, David Cordani, CEO of CIGNA. Thanks for joining us this morning.
CORDANI: Steve thanks for your time.