Bloomfield-based Cigna sells overseas businesses to Chubb
Insurance industry giant Chubb is buying part of Bloomfield-based Cigna.
Cigna is selling Chubb businesses in the Asia-Pacific region, and an interest in a joint venture in Turkey.
The overseas Cigna operations being sold focus on life insurance, accident insurance, and supplemental benefits.
In a statement, Cigna president David Cordani said the deal will help the company focus on global health services.
In addition to its health insurance business, Cigna also owns pharmacy benefit manager Express Scripts.
This is NOT the first time Chubb has tried to do a deal with a Connecticut-based company recently.
Earlier this year, Chubb tried to buy The Hartford, but a purchase could not be completed.