New York Life, America's largest mutual life insurer, completed the acquisition of the group life and disability insurance business of Cigna, a global health service company, for $6.3bn. "This acquisition, the largest in our company’s history, reinforces our financial strength by generating capital that can contribute to our surplus, dividends, and earnings. We are excited to welcome to New York Life our new employees and the millions of new customer relationships that we will gain through this milestone transaction. We look forward to building on our leading group benefit solutions market position in the years ahead," Ted Mathas, New York Life Chairman and CEO.