Edward Hanway will also become chairman, succeeding Wilson H. Taylor after he retires, the No. 3 U.S. health insurer said yesterday.

Hanway, who has been Cigna's president and CEO since January 1999, has been with the company for 22 years.

"He has extensive knowledge of our operations, a record of success in managing both our health care and international divisions, and a strong commitment to customer service,'' said Taylor, who plans to retire from the board by year-end.

Cigna will continue to focus on building each of its businesses -- health care, retirement and investment services, group insurance, and international.