Health insurance products provider Cigna's shareholders have approved $54bn acquisition offer by Anthem.


Simultaneously, Anthem shareholders approved the issuance of the company’s common stock in the acquisition of Cigna.

The deal was first announced by the two firms in July this year.

Cigna offers medical, dental, disability, life and accident insurance and related products and services to about 89 million customers in around 30 countries.

The firm also provides specialized healthcare and related employee insurance benefits to expatriate employees of multinational companies.

Its subsidiaries include Connecticut General Life Insurance, Cigna Health and Life Insurance, Life Insurance Company of North America and Cigna Life Insurance Company of New York.

Anthem president and CEO Joseph Swedish said: "For more than 75 years, Anthem has played a leadership role in helping individuals to access and finance high quality healthcare.

"The combination of Anthem and Cigna will continue this long history of leadership and will deliver near- and long-term value by accelerating innovation, enhancing our collaborative efforts with providers and, most importantly, increasing consumer access to high quality, affordable healthcare."

Subject to federal and state regulatory approvals and other customary closing conditions, the deal is expected to complete in the second half of 2016.

Image: Cigna’s insurance subsidiaries provide medical, dental, disability, life and accident insurance products. Photo: courtesy of Stuart Miles /