Cigna Corp., a leading health insurer, has managed to beat all estimates by posting a much better than expected third quarter report. The rise in the firm's earnings for the July-September period for the year has been attributed by the company to a strengthening stock market which surged the value of variable annuity products in the reinsurance business.

As per the figures reported by Cigna, earnings for the quarter surged to $329 Million, or $1.19 per share, a significant rise from last year's earnings figures of $171 Million, or 62 cents a share, posted for the same period.

Revenue, however, dropped 8% to $4.5 Billion.

On the back of a much positive third quarter report and the fact that the economy is steadily improving, Cigna is now looking at an even better fourth quarter and coming year. However, concerns are looming large with regards to a major healthcare overhaul which is currently under Government debate, and, if passed, could drastically affect the healthcare industry's future profitability.