Connecticut activists will gather to confront the leadership of CIGNA Corp. at the health insurance giant’s annual shareholders meeting at 3 p.m. Wednesday, April 25, at the Bushnell Performing Arts Center at 166 Capitol Ave. in Hartford.
Two years ago, CIGNA CEO David Cordani admitted to shareholders at the annual meeting that CIGNA and other insurers funneled money through AHIP, the national health insurance lobby, to the U.S. Chamber of Commerce in an attempt to undermine health care reform.
The company this year reached an understanding with the Sisters of the Humility of Mary, which holds CIGNA shares, to withdraw their shareholder proposal for greater disclosure. To date, CIGNA still has not disclosed its contributions to front groups like AHIP and the chamber.
The activists want to make clear that CIGNA leadership’s failure to come clean threatens the value of company stock by creating a serious reputational risk for CIGNA.
Playing politics does not fulfill the company’s fiduciary responsibility to investors and policyholders who have poured billions of dollars into the company. HCAN partner the Connecticut Alliance for a Fair Economy is staging this action as part of the national 99% Power campaign. The campaign is targeting various corporations at their shareholder meetings or other events with the goal of creating an economy and a democracy that works for all of us.