Exhibit 12

CIGNA CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)

	Three Months Ended March 31,
	2004		2003
Income from continuing operations before income taxes	$	327	$	282
Adjustments:
Loss from equity investee		-		1
Income from continuing operations before income taxes, as adjusted	$	327	$	283
Fixed charges included in income:
Interest expense	$	27	$	28
Interest portion of rental expense		12		13
		39		41
Interest credited to contractholders		213		256
	$	252	$	297
Income available for fixed charges (including interest
credited to contractholders)	$	579	$	580
Income available for fixed charges (excluding interest
credited to contractholders)	$	366	$	324
RATIO OF EARNINGS TO FIXED CHARGES:
Including interest credited to contractholders		2.3		2.0
SUPPLEMENTAL RATIO:
Excluding interest credited to contractholders		9.4		7.9