Business

New Cigna CEO focuses on strong overseas growth

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INDIANAPOLIS (AP) — New Cigna CEO David Cordani starts his tenure focused on overseas business as a key to maintaining the managed care company’s improved financial performance.

The 43-year-old Cordani replaces retiring Chairman and CEO H. Edward Hanway as the Philadelphia insurer’s top executive.

He takes over a company that saw its stock price soar 98 percent last year even though Cigna and other health insurers faced slumping enrollment in the recession and the uncertainty caused by a possible U.S. health care system overhaul.

Cordani said in a telephone interview with The Associated Press that Cigna will target emerging middle class markets in countries like China and Indonesia for new business.