Cigna said it has named Jason Sadler to head up the health, life and accident operations of Cigna International.
Sadler, who begins his new post July 19, will be responsible for leading and expanding the company's health, life and accident business globally. Cigna said he will be based in Hong Kong and will report to Cigna International President William L. Atwell.
Prior to his new post, Sadler was the managing director of HSBC's insurance business for Hong Kong, where he was responsible for the life, general, medical and corporate retirement business. He also held several other leadership positions at HSBC over the past 16 years, with increasing responsibility in the United Kingdom, Singapore and Hong Kong.
He was also in management at Axa Insurance in the United Kingdom and at Zurich Financial Services.
Cigna's international business provides life, accident and health insurance, as well as global expatriate benefits. Currently, Cigna International has business operations in 27 countries and jurisdictions and covers expatriate employees on assignment outside their home countries virtually everywhere in the world. Cigna serves about 46 million people globally.
Earlier this year, Cigna Corp. said its international business plans would develop and sell individual private medical insurance outside the United States, starting with Spain (BestWire, Jan. 22, 2010). Also, it announced Keith Biddlestone would lead Cigna's individual private medical insurance effort outside the United States, beginning Feb. 1.
In the United States, Cigna HealthCare companies currently have Best's Financial Strength Ratings of A- (Excellent).
The Philadelphia-based Cigna Corp. (NYSE: CI) is the fourth-largest U.S. health insurer based on enrollment (BestWire, June 6, 2010). Shares of Cigna were trading at $31.15 on the afternoon of July 19, up 2.67% from the previous close.
(By Lori Chordas, senior associate editor, Best's Review: Lori.Chordas@ambest.com)