New York Life Completes Acquisition of Cigna’s Group Life and Disability Insurance Business
Acquisition enhances New York Life’s portfolio of strategic businesses, contributes to financial strength, and increases value for clients, producers, and policy owners
Group Life and Disability Business Rebranded
New York Life Group Benefit Solutions
NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest mutual life insurer
1, today announced the completion of the company’s acquisition of Cigna’s group life, accident, and disability insurance business. The $6.3 billion acquisition, which was first announced on December 18, 2019, adds approximately 3,000 employees, over nine million customers
2, and enhances New York Life’s portfolio of strategic businesses, which support the core retail life insurance franchise and bolster the company’s financial strength. The new business will be rebranded New York Life Group Benefit Solutions.
I went through acute withdrawal from anxiety medication alone at home during the pandemic
‘Following a month-long taper, my symptoms now include tinnitus, 72-hour migraines and panic.’ Photograph: Matt Rourke/AP
‘Following a month-long taper, my symptoms now include tinnitus, 72-hour migraines and panic.’ Photograph: Matt Rourke/AP
Wed 30 Dec 2020 02.00 EST
Last modified on Thu 31 Dec 2020 07.28 EST
I remember little about the past nine years. What I do remember is garbled, like it’s trapped deep underwater, or like my own memories aren’t quite mine. Everything prior to that time remains perfectly intact. I can remember the street I lived on in San Francisco a decade ago but the past five years are largely featureless. It has only been in the last months of this year, during the pandemic, that I have begun to reacquire any clarity, and the desire for clarity.
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December 24, 2020
On Wednesday, Cigna Corporation and its subsidiary, Express Scripts Inc. filed suit against Arefin Kabir, who was Director of Pharma Strategy and Contracting at Express and is accused of theft of trade secrets and violation of the confidentiality agreements that he signed as an employee of Express. The complaint was filed in the Middle District of Florida.
Express is the pharmacy benefit management subsidiary of Cigna and was formed to provide services such as claims processing, benefit design, drug-utilization review, formulary management, and cost analysis processes for Cigna’s medical, Medicaid, Medicare, and workers compensation insurance programs. The defendant, according to the complaint, signed several Confidentiality, Non-Compete, and Non-Solicitation Agreements over the course of his employment, including upon being initially hired in 2016 as well as an updated agreement in 2020. The plaintiff also explained that Kabir received
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Anthem, Inc., (Anthem) and Express Scripts, Inc., (Express Scripts) had a big win this week, creating another setback for plaintiffs filing ERISA lawsuits against pharmacy benefits managers (PBMs). On December 7, 2020, the Second Circuit Court of Appeals upheld U.S. District Judge Edgardo Ramos’s decision that Anthem and Express Scripts did not violate fiduciary obligations under the Employer Retirement Income Security Act (ERISA) because neither party acted as an ERISA fiduciary with regard to decisions that allegedly led to higher prescription drug prices for patients and plans. (
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