Cigna announced a slew of leadership updates on Wednesday, including an expansion of chief financial officer Brian Evanko’s role.
Evanko will continue to hold the CFO position, and he’ll also serve as president and CEO of the company’s Cigna Healthcare division, its benefits business which includes the U.S. Commercial and U.S. Government segments.
Ann Dennison, previously executive vice president and CFO at Nasdaq, will join the insurer as deputy chief financial officer.
Additionally, Bryan Holgerson will serve as president of Cigna’s U.S. Commercial segment following the retirement of Mike Triplett, who will leave by the end of this year.
Eric Palmer will also add to his role, overseeing Cigna’s enterprise strategy and corporate development in addition to his position as president and CEO of the company’s Evernorth Health Services division. He’ll manage long-term growth opportunities, including through the company’s Cigna Ventures arm and by growing the health services business through mergers and acquisitions, according to the press release.
Cigna has said it will focus on smaller acquisitions in the near term, after a potential merger with insurer Humana reportedly fell apart late last year. The company was concerned by investors’ negative reaction to the potential deal, according to reporting by the Wall Street Journal.
The insurer has also reportedly expressed interest in selling its Medicare Advantage business, where competitors like UnitedHealth and Humana have a more dominant market position. Cigna was nearing a deal to sell its MA operations to Chicago-based Health Care Service Corp. for between $3 billion and $4 billion, the WSJ said earlier this month.
The insurer reported revenue of $49 billion, up 8% year over year, and net income of $1.4 billion during the third quarter last year.
Cigna will release fourth quarter financials on Feb. 2.
