After being acquired by Cigna for $305 million in cash, subject to closing adjustments, Great American Supplemental Benefits Group will now do business as Cigna Supplemental Benefits.
Great American Supplemental Benefits Group’s 2011 premiums totaled $300 million and the insurer had more than 200,000 current customer relationships, which will all be transferred to Cigna.
The new business positions Cigna as one of the largest producers, distributors and marketers of supplemental health care and related products in the United States, Cigna said.
“The Great American Supplemental Benefits team’s passion for helping customers, effective distribution relationships and approach to business is aligned with Cigna's values and business strategy. We look forward to working together to build on their success and extend our health solutions to more individuals,” said Tom Richards, President, Cigna U.S Individual.
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