Cigna pays 93% of claims

Cigna New Zealand latest financial results show a 12% increase in net premium revenue, underpinned by a 22% increase in sales and a net assets position of $798 million at the end of 2021.

Cigna New Zealand chief executive Gail Costa says: “overall life insurance industry sales grew by 13%, but Cigna’s grew by 22%. This confirms that we’re one of the country’s fastest growing life insurers."

"As well as protecting more new customers, our revenue growth was underpinned by a focus on retention." The company’s underlying profit after tax was $97 million up by 25% from $78.3 million in 2020.

While the overall earnings result showed a shortfall of $4 million, this was largely driven by rising interest rates throughout 2021.