Cigna posts profit drop, lifts forecast

Cigna Corp.'s third-quarter profit fell 6.7% as low interest rates weighed on results, though membership increased and medical costs fell at the managed-care company.

Philadelphia-based Cigna also raised its earnings forecast for the year a second time, to $4.35 to $4.50 a share from $4.10 to $4.40.

"This quarter's continued business growth is a result of strong customer retention, expansion of existing relationships and new business sales in our targeted market segments and geographies," said President and Chief Executive David M. Cordani.