Cordani Officially Becomes CEO of Cigna

David M. Cordani has officially become president and chief executive officer of Cigna Corp. Most recently, he served as president and chief operating officer of the U.S. health insurer.

Last summer, Cigna said H. Edward Hanway, its chairman and CEO for the past decade, would retire at the end of 2009 and that Cordani, 43, would replace him, starting Jan. 1, 2010 (BestWire, June 26, 2009).

Cigna (NYSE: CI) also said Isaiah "Ike" Harris Jr. became the chairman of the board. He previously was vice chairman of the board and has been a director at Cigna for the past five years.

Cordani has been with the company since 1991. Formerly the president of Cigna HealthCare, Cordani was named president and COO of Cigna in June 2008. He assumed the role of president of Cigna HealthCare from Hanway back in July 2005 (BestWire, June 26, 2008).

As Cigna's president and COO, he was responsible for Cigna's group disability and life insurance and international businesses, as well as Cigna HealthCare.

An accomplished triathlete who participated in two international Iron Man competitions and bicycled 200 miles in one day for a fund-raiser, Cordani, in an August 2005 interview with BestWire, said he leads by example. "Gives me some great balance," he said at the time (BestWire, Aug. 29, 2005).

On the afternoon of Jan. 4, Cigna's stock was trading at $36.35 a share, up 3.06% from the previous close.

Cigna HealthCare companies currently have Best's Financial Strength Ratings of A- (Excellent).

(By Fran Matso Lysiak, senior associate editor, BestWeek: fran.lysiak@ambest.com)