Unsupported Browser

Your web browser appears to be outdated. Our website may not look quite right in it.

Please consider updating your browser to enjoy an optimal experience.

Skip to main content
Overlay

09 May 2022

Cigna New Zealand (Cigna)’s latest financial results show a 12% increase in net premium revenue, underpinned by a 22% increase in sales and a net assets position of $798m at the end of 2021.

Gail Costa, Cigna New Zealand Chief Executive Officer says: “overall life insurance industry sales grew by 13%, but Cigna’s grew by 22%. This confirms that we’re one of the country’s fastest growing life insurers.”

“As well as protecting more new customers, our revenue growth was underpinned by a focus on retention.”

The company’s underlying profit after tax was $97 million up by 25% from $78.3 million in 2020.

While the overall earnings result showed a shortfall of $4 million, this was largely driven by rising interest rates throughout 2021.

“Despite the wider global economic uncertainty, this year’s financials tell a story of strong underlying activity for the year. Cigna maintains a strong credit rating, and reported a solvency margin of $93.6m as at December 2021.”

The results also show Cigna paid out $114.7m in claims last year.

“Most pleasingly, we accepted more than 93% of those claims. This really demonstrates our commitment to finding solutions for our customers in their time of need,” says Gail.