Plus   Neg

New York Life In Talks To Buy Cigna Non-Health Insurance Unit For $6 Bln : WSJ

New York Life Insurance Co. is negotiating with Cigna Corp. to buy a unit that sells non-medical insurance products to employers, a deal that could be valued at as much as $6 billion, the Wall Street Journal reported citing people familiar with the matter.

Cigna is also talking to other bidders including MetLife Inc. and Sun Life Financial Inc. But New York Life recently emerged as the leading contender, according to the Journal. The report said Cigna expects to reach a deal by year-end.

Cigna in recent months has been seeking a buyer for a business that sells life, accident and disability-income insurance to employers for their workers, in a move that would help the health giant focus on its core business, according to the report.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
California-based Sierra Soups is recalling "Pasta e Fagioli" soup mix for concerns of undeclared gluten, the U.S. Food and Drug Administration said in a statement. The soup mix contained an individually wrapped package of pasta that contains gluten, a known allergen. However, the outer packaging states the product is Gluten Free. The problem was caused by a breakdown in the packaging processes. McDonald's unveils Golden Shamrock Shake to commemorate the 50th anniversary of its Shamrock Shake. Six days after the return of the popular, mint-flavored shake, McDonald's Tuesday announced it is auctioning off a jewel-and-diamond-encrusted 18-karat gold cup, called the Golden Shamrock Shake, with... Walt Disney Co. (DIS) Tuesday announced CEO Robert Iger will step down immediately, and will be replaced by Bob Chapek. Chapek most recently served as Chairman of Disney Parks, Experiences and Products. Iger will assume the role of Executive Chairman and will "direct the company's creative endeavors,"...
Follow RTT