Health insurer Cigna Corp. announced Tuesday that Ralph Nicoletti has been named executive vice president and chief financial officer, starting June 20.

Nicoletti succeeds Thomas McCarthy, the acting chief financial officer since September, who will become vice president of finance. Nicoletti will be responsible for all of Cigna's financial operations and its investment management and strategic planning units.

Since August 2009, he has been executive vice president and chief financial officer at Alberto-Culver Inc., the maker of personal care products that recently was acquired by Unilever Group.

Cigna sells individual insurance policies in several countries and operates an expatriate business covering people living outside their home countries. Its subsidiaries include Life Insurance Co. of North America and Connecticut General Life Insurance Co.

Cigna shares rose 42 cents to close Tuesday at $49.89.