Company officials said Monday they are not pursuing a merger with rival Humana, causing Cigna's stock to rise in the markets.

The two health insurance giants held talks about a deal last year, but Cigna walked away after the two companies failed to agree on a price.

Despite reports that merger talks were back on, Cigna officially squashed rumors that it was looking to acquire Humana in a statement on Monday. | Despite reports that merger talks were back on, Cigna officially squashed rumors that it was looking to acquire Humana in a statement on Monday.