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Cigna Raises $100M of $500M Offering - CBL
By Citybizlist Staff
PHILADELPHIA -- Global health service company Cigna Corp. has raised $100 million of a $500 million debt offering, according to an amended Reg D filing with the U.S. Securities and Exchange Commission.
Principals named in the filing include Chairman and CEO H. Edward Hanway. Others named: William Atwell, Annmarie Hagan, John Murabito, Carol Petren, Michael Woeller, Robert Campbell, Jane Henney, Peter Larson, Roman Martinez IV, John Partridge, James Rogers, Carol Wait, Eric Wiseman, Donna Zarcone and William Zollars.
Philadelphia-based Cigna provides health care and related benefits through the workplace. Key product and service lines include medical, pharmacy, behavioral health, clinical information management, dental and vision benefits, and case and disease management. The company also offers group disability, life and accident insurance.
Total estimated annualized sales commissions of $250,000 will be paid to Goldman Sachs & Co., JP Morgan Securities Inc. and Banc of America Securities LLC, all based in New York .
Reg D filing: http://tinyurl.com/yh2gga6
Also at Citybizlist, see:
David M. Cordani Elected to CIGNA Board of Directors
A.M. Best Assigns Ratings to CIGNA Corporation's Shelf Registration
CIGNA Corp. 8-K: Investor Update
H. Edward Hanway Plans to Retire as CEO of CIGNA at End of 2009
Bios from Cigna's Web site:
H. Edward Hanway
Chairman and CEO
H. Edward Hanway was named chairman and chief executive officer of CIGNA Corp. in 2000. Prior to that, he served the company for a year as president and COO. From 1996 to 1999 he served as president of Cigna HealthCare, and from 1989 to 1996 as president of CIGNA International.
Hanway joined Insurance Company of North America (INA), a Cigna predecessor company, in 1978 as assistant controller, and was appointed to management and executive roles of increasing responsibility through the merger in 1982 of INA and Connecticut General, which formed CIGNA.
Hanway serves on the board of directors of the Alliance for Health Reform and is past chairman of the Council for Affordable Quality Healthcare. He is an outspoken advocate at the national level for greater transparency in the health care quality and cost information available to consumers and a strong proponent of national quality standards for health care providers. He is recognized as a leader in the effort to improve the quality, accessibility and affordability of health care in the U.S. .
A member of the Pennsylvania and American Institutes of Certified Public Accountants, Hanway graduated from Loyola College of Baltimore (B.A., 1974) and Widener University (M.B.A., 1984).
David M. Cordani
President and COO
David M. Cordani was named president and Chief Operating Officer of Cigna in June 2008. Most recently he was president of Cigna HealthCare, a position he has held since July 2005. As president and COO, Cordani has executive management responsibility for CIGNA's HealthCare, group insurance businesses, and CIGNA International.
Cordani serves on Boards of Directors for the National Association of Manufacturers, the Connecticut Business and Industry Association, and the CIGNA Foundation. He is a graduate of Texas A&M (B.S., 1988) and the University of Hartford (M.B.A. in Marketing, 1994), and is a Chartered Financial Consultant and a Certified Public Accountant.
Annmarie Hagan
Executive Vice President & CFO
Annmarie Hagan was named Executive Vice President and Chief Financial Officer for Cigna Corporation in May 2009. In this senior leadership role, she is responsible for all financial operations and functions. She is also responsible for CIGNA's Investment Management, Strategic Planning, and run-off businesses.
Hagan is a 20+-year veteran of Cigna, most recently serving as Vice President and Chief Accounting Officer (2003 - 2009) and Controller (2008-2009). Her other leadership roles include Vice President, Financial Management for CIGNA Group Insurance (2001 - 2002), and Chief Accounting Officer, CIGNA Property and Casualty (1998 to 1999) prior to the company's sale of that business to ACE USA. She subsequently joined ACE USA as Vice President of Finance before returning to Cigna in 2001. Hagan started her career at Peat, Marwick, Mitchell & Co.
Hagan received a bachelor of science degree in accounting/finance from Drexel University , Philadelphia . She is a certified public accountant.
John M. Murabito
Executive Vice President, Human Resources and Services
John Murabito was appointed Executive Vice President of CIGNA Corporation in July, 2003, with responsibility for driving growth in Cigna's businesses through an effective human resources and people strategy. He is responsible for human resources strategy and planning, staffing, talent management and succession processes, as well as compensation and benefits, employee relations, leadership development and training, corporate medical operations, and employee assistance programs. He is also in charge of a variety of corporate-wide administrative areas including, travel, security, real estate, and other business support services
Prior to joining CIGNA, Murabito served as Senior Vice President of Human Resources and Corporate Services at Monsanto. His background includes more than 25 years of extensive related experience with the Frito-Lay division of PepsiCo, Symbion, Inc., and The Trane Company.
Murabito is a graduate of Augustana College in Illinois (B.A.) and the University of Iowa (M.A.). He serves on the Boards of Directors of Cornell University's Center for Advanced Human Resources Studies and the Human Resources Policy Association. He is a member of the Personnel Roundtable. He is also active in various civic and community organizations in the Philadelphia area.
Michael D. Woeller
Executive Vice President and CIO
Michael Woeller was appointed Executive Vice President and Chief Information Officer of Cigna in October 2007, and has executive management responsibility for the corporation's systems development, data processing and telecommunications worldwide.
Prior to joining Cigna, over the course of his 27-year career, Woeller held a variety of senior financial services positions, most recently as Vice Chairman and Chief Information Officer for Canadian Imperial Bank of Commerce (CIBC), with responsibility for all CIBC's technology, retail and investment banking operations worldwide, as well as VISA business and national collections. Before CIBC, he served as Executive Vice President at TD Bank where he developed the merger integration plan for TD Canada Trust; and, before TD Bank, as Executive Vice President of Direct Banking and Information Services for Canada Trust, with responsibility for a number of businesses, including MasterCard, Core Banking and Direct Banking.
Woeller has served as a director on a number of industry boards, including the Interac Association of Canada, MasterCard Canada , and as Chairman of the Board of INTRIA Items Inc., a joint venture between CIBC and Fiserv Solutions. He is currently a Director of CIRBA, Inc. and a member of the Audit Committee.
Woeller earned a Bachelor's of Science degree in Mathematics and Computer Science, and a Master's of Business Administration, both from Queen's University in Kingston , Ontario , Canada.