Cigna 2014 Annual Report Download - page 11
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9
Converting challenges into growth opportunities
To achieve our growth goals in a disruptive global
environment for health care, Cigna has built a guiding
framework – comprising three main components:
› Leveraging our core capabilities in existing
businesses;
› Eectively deploying capital;
› Pursuing new and emerging opportunities.
Taken together, Cigna believes this framework will
enable us to continue driving dierentiated value
for our customers and shareholders over time.
LEVERAGING OUR CORE CAPABILITIES
As part of this first component, we see significant
opportunity to leverage the three pillars of our
“Go Deep, Go Global, Go Individual” strategy, to
focus on markets and segments where we are
well-positioned to continue winning in the market.
Our existing portfolio, along with our focused
execution, will play a significant role in doubling
the size of business over the next seven to eight
years, which will result in an average annual revenue
growth rate of eight to ten percent. Our 2015
outlook is consistent with this goal.
CAPITAL DEPLOYMENT
Relative to the second part of our framework –
targeted and eective capital deployment – our
portfolio of businesses continued to contribute
significant free cash flow for shareholders.
Over the past five years, we have eectively
deployed capital through a balance of investments
in our business portfolio, strategic mergers and
acquisitions, and share repurchase. A good, recent
example of this is our agreement to purchase
QualCare Alliance Networks – an acquisition
directly aligned with our Go Deep strategy, and
our physician-partnership strategy.
We also have a strong track record of generating
high levels of free cash flow, which provides us
with financial flexibility, and the opportunity to
deploy capital to create additional value for our
shareholders. And given the health of our balance
sheet and underlying capitalization levels of our
subsidiaries, we expect to have $1.8 billion dollars
of capital available for deployment in 2015.