M&A Deal Summary

Cigna Acquires Great-West Healthcare

On November 26, 2007, Cigna acquired insurance company Great-West Healthcare from Great-West Life & Annuity Insurance for 1.5B USD

Acquisition Highlights
  • This is Cigna’s 2nd transaction in the Insurance sector.
  • This is Cigna’s 3rd largest (disclosed) transaction.
  • This is Cigna’s 4th transaction in the United States.
  • This is Cigna’s 1st transaction in Colorado.

M&A Deal Summary

Date 2007-11-26
Target Great-West Healthcare
Sector Insurance
Buyer(s) Cigna
Sellers(s) Great-West Life & Annuity Insurance
Deal Type Divestiture
Deal Value 1.5B USD

Target

Great-West Healthcare

Denver, Colorado, United States
Great-West Healthcare, is the healthcare division of Great-West Life & Annuity Inc.,, a Denver, Colorado-based, indirect, wholly owned subsidiary of Great-West Lifeco Inc. and a member of the Power Financial Corporation group of companies.

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Buyer(S) 1

Buyer

Cigna

Bloomfield, Connecticut, United States

website


Category Company
Founded 1792
Sector Healthcare Services
Employees71,000
Revenue 180.6B USD (2022)
DESCRIPTION
Cigna office in Pittsburgh, Pennsylvania.
Cigna office in Pittsburgh, Pennsylvania.

Cigna is a health services organization. Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance. Cigna dates back to 1792 and is based in Bloomfield, Connecticut.


DEAL STATS #
Overall 5 of 14
Sector (Insurance) 2 of 6
Type (Divestiture) 2 of 3
State (Colorado) 1 of 1
Country (United States) 4 of 10
Year (2007) 2 of 2
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-01 Sagamore Health Network

Carmel, Indiana, United States

Sagamore Health Network, Inc. providers got together in the mid-1980s to form a network that would provide broad access to services for members across the State of Indiana and contiguous states, they wanted a name that would reflect their farsighted approach to choice, savings, access and compassionate care.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-31 Vanbreda International BVBA

Antwerp, Belgium

Vanbreda International BVBA is an international global health service company. Vanbreda's main activities are insurance brokerage, risk management services and consultancy.

Buy -

Seller(S) 1

SELLER

Great-West Life & Annuity Insurance

Greenwood Village, Colorado, United States

website


Category Company
Founded 1907
Sector Insurance
Employees3,300
DESCRIPTION

Great-West Life & Annuity Insurance Company (Great-West Financial) helps millions of Americans, their companies and employers build greater financial security. Our offerings range from retirement savings products and services to life insurance, annuities and executive benefits products.


DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-19 Financial Horizons Group

Kitchener, Ontario, Canada

Financial Horizons Group is a distributor of insurance products and other financial services in Canada. The Company consists of two business segments: Financial Horizons and Henderson Structured Settlements. Financial Horizons is a Managing General Agent that serves as the key conduit for independent insurance brokers to access a multitude of life insurance and financial investment products from various providers. Henderson Structured Settlements is an independent distributor of structured settlements, including tax-free, guaranteed annuities made available from five government-approved life insurance companies relating to compensatory damages for personal injury or death.

Buy -