Exhibit 12

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

	Six Months Ended June 30,
		2004		2003
Income from continuing operations before income taxes	$	1,103	$	205
Adjustments:
Loss from equity investee		-		2
Income from continuing operations before income taxes, as adjusted	$	1,103	$	207
Fixed charges included in income:
Interest expense	$	55	$	56
Interest portion of rental expense		24		27
		79		83
Interest credited to contractholders		418		507
	$	497	$	590
Income available for fixed charges (including interest
credited to contractholders)	$	1,600	$	797
Income available for fixed charges (excluding interest
credited to contractholders)	$	1,182	$	290
RATIO OF EARNINGS TO FIXED CHARGES:
Including interest credited to contractholders		3.2		1.4
SUPPLEMENTAL RATIO:
Excluding interest credited to contractholders		15.0		3.5