Cigna's direct sales a winner

Cigna's market share of new business fell, its $1.65 million accounting for 3.46% of the industry total, down from its 3.66% share in the March quarter. However, it enjoyed a net gain in in force business because lapses and surrenders totalled just $860,000.

"We're having a good sales year - our growth's come from our entry into simple term life and income products we've launched," Cigna chief executive Gail Costa says.

Cigna's retention rate reflects the fact it isn't relying on advisers to sell its policies, using direct advertising to attract customers who aren't already insured, Costa says.

"We don't have the distribution or cost issues our competitors have," she says.