cigna 10q q208

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2008

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

for the transition period from _____ to _____

Commission file number 1-08323

(Exact name of registrant as specified in its charter)

Delaware	06-1059331
(State or other jurisdiction	(I.R.S. Employer
of incorporation or organization)	Identification No.)

Two Liberty Place, 1601 Chestnut Street

Philadelphia, Pennsylvania 19192

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code (215) 761-1000

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No _

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer”, “accelerated filer”, and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [X]		Accelerated filer [ ]
Non-accelerated filer [ ]		Smaller Reporting Company [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

As of July 18, 2008, 274,856,896 shares of the issuer's common stock were outstanding.

		Page No.
PART I.	FINANCIAL INFORMATION
	Item 1. Financial Statements
	Consolidated Statements of Income	1
	Consolidated Balance Sheets	2
	Consolidated Statements of Comprehensive Income and Changes in Shareholders' Equity	3
	Consolidated Statements of Cash Flows	5
	Notes to the Consolidated Financial Statements	6
	Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations	32
	Item 3. Quantitative and Qualitative Disclosures About Market Risk	58
	Item 4. Controls and Procedures	59

PART II.	OTHER INFORMATION
	Item 1. Legal Proceedings	60
	Item 1A. Risk Factors	61
	Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Item 4. Submission of Matters to a Vote of Security Holders	62 63
	Item 6. Exhibits	64
SIGNATURE		65
EXHIBIT INDEX		E-1

As used herein, “CIGNA” or the “Company” refers to one or more of CIGNA Corporation and its consolidated subsidiaries.

Part I. FINANCIAL INFORMATION

Item 1. Financial Statements

CIGNA Corporation
Consolidated Statements of Income
	Unaudited						Unaudited
	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions, except per share amounts)	2008			2007			2008			2007
Revenues
Premiums and fees	$	4,202		$	3,757		$	8,053		$	7,465
Net investment income		265			279			530			559
Mail order pharmacy revenues		286			277			582			548
Other revenues		129			79			272			173
Realized investment gains (losses)		(19	)		(11	)		(5	)		10
Total revenues		4,863			4,381			9,432			8,755
Benefits and Expenses
Health Care medical claims expense		1,900			1,729			3,644			3,448
Other benefit expenses		917			834			1,845			1,670
Mail order pharmacy cost of goods sold		227			225			466			444
Guaranteed minimum income benefits (income) expense		(49	)		96			255			120
Other operating expenses		1,455			1,169			2,736			2,332
Total benefits and expenses		4,450			4,053			8,946			8,014
Income from Continuing Operations
before Income Taxes		413			328			486			741
Income taxes (benefits):
Current		132			163			209			295
Deferred		8			(52	)		(51	)		(48	)
Total taxes		140			111			158			247
Income from Continuing Operations		273			217			328			494
Income (Loss) from Discontinued Operations, Net of Taxes		(1	)		(19	)		2			(7	)
Net Income	$	272		$	198		$	330		$	487
Earnings Per Share - Basic:


EDGAR Submission Header Summary

	Submission Type	10-Q
	Live File	on
	Return Copy	on
	Submission Contact	Alicia Ferri
	Submission Contact Phone Number	215-640-3330
	Exchange	NYSE
	Confirming Copy	off
	Filer CIK	0000701221
	Filer CCC	jxrvrk5*
	Period of Report	06/30/08
	Smaller Reporting Company	off
	Notify via Filing website Only	off
	Emails	kathleen.magerr@cigna.com
		livejobs@scullingroup.com
		scullingrp@aol.com
		lindsay.blackwood@cigna.com
		danthu.phan@cigna.com

Documents
	10-Q	cigna10q.htm
		CIGNA Corporation Form 10-Q
	EX-12	ex12.htm
		Exhibit 12
	EX-31.1	ex31-1.htm
		Exhibit 31.1
	EX-31.2	ex31-2.htm
		Exhibit 31.2
	EX-32.1	ex32-1.htm
		Exhibit 32.1
	EX-32.2	ex32-2.htm
		Exhibit 32.2

Module and Segment References