Cigna profit exceeds expectations; lower costs help

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Cigna profit exceeds expectations; lower costs help

By Caroline Humer (Reuters) - Cigna Corp, which provides U.S. and overseas health insurance as well as disability and life insurance, reported a second-quarter profit that beat expectations on Thursday as medical costs fell and revenue rose. A weaker U.S. economy has forced people to cut back on medical services in the past few years, reducing insurers' payments on claims. Companies like UnitedHealth Group Inc, WellPoint Inc, and Aetna Inc have beaten expectations for the quarter because of this trend. Cigna's net income rose to $505 million, or $1.76 per share, from $380 million, or $1. ...

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