The American insurance company New York Life takes over a part of industry colleague Cigna. For the branch that deals with non-medical insurance for employers, New York Life accounts for more than 6 billion dollars. That message business newspaper Financial Times based on insiders.
For New York Life the acquisition means that it can tap into new markets, for Cigna it is primarily a substantial capital injection. That American insurer has a huge debt burden after the acquisition of Express Scripts last year for 67 billion dollars.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email firstname.lastname@example.org