Cigna Expects To Generate Over $12 Billion Of Deployable Capital In 2022 - Quick Facts

(RTTNews) - Health service company Cigna Corp. (CI) announced Monday a series of capital deployment priorities designed to enhance shareholder value and deliver long-term growth.

Cigna said it expects to generate over $12 billion of deployable capital in 2022, including $5.4 billion in after-tax proceeds from the previously announced sale of its international life, accident, and supplemental benefits businesses in seven countries.

These priorities build on the capital Cigna returned to shareholders in 2021, including $7.7 billion of share repurchase and $1.3 billion in dividends.

During Cigna's February Board of Directors meetings, directors approved an aggregate increase of $6 billion in incremental share repurchase authorization, bringing the company's total share repurchase authority to $10 billion.

Year-to-date, Cigna has repurchased $1.2 billion of its shares. The company expects to deploy in excess of $7 billion for share repurchase this year.

The company intends to continue making strategic investments in innovation through targeted bolt-on or tuck-in acquisitions, along with establishing positions in earlier-stage companies through Cigna Ventures, the company's venture capital arm.

During the February Board Meeting, an additional $450 million was authorized for investment into Cigna Ventures, focusing on maximizing impact across three key areas: insights and analytics; digital health and experience; and care delivery and enablement.