Cigna 2009 Annual Report Download - page 68
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48
Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
INDEX
Introduction 48
Consolidated Results of Operations 52
Critical Accounting Estimates 55
Segment Reporting
Health Care 62
Disability and Life 69
International 71
Run-off Reinsurance 73
Other Operations 77
Corporate 78
Discontinued Operations 78
Industry Developments and Other Matters 79
Liquidity and Capital Resources 80
Investment Assets 87
Market Risk 93
Cautionary Statement 95
INTRODUCTION
In this filing and in other marketplace communications, CIGNA Corporation and its subsidiaries (the “Company”) make certain
forward-looking statements relating to the Company’s financial condition and results of operations, as well as to trends and
assumptions that may affect the Company. Generally, forward-looking statements can be identified through the use of predictive
words (e.g., “Outlook for 2010”). Actual results may differ from the Company’s predictions. Some factors that could cause results to
differ are discussed throughout Management’s Discussion and Analysis (“MD&A”), including in the Cautionary Statement beginning
on page 95 of this Form 10-K. The forward-looking statements contained in this filing represent management’s estimate as of the date
of this filing. Management does not assume any obligation to update these estimates.
Unless otherwise indicated, financial information in the MD&A is presented in accordance with accounting principles generally
accepted in the United States (“GAAP”). Certain reclassifications have been made to prior period amounts to conform to the
presentation of 2009 amounts. In addition, certain amounts have been restated as a result of the adoption of new accounting
pronouncements. See Note 2 to the Consolidated Financial Statements for additional information.
Overview
The Company constitutes one of the largest investor-owned health service organizations in the United States. Its subsidiaries are major
providers of health care and related benefits, the majority of which are offered through the workplace. In addition, the Company has
an international operation that offers life, accident and supplemental health insurance products as well as international health care
products and services to businesses and individuals in selected markets. The Company also has certain inactive businesses, including a
Run-off Reinsurance segment.