Cigna won’t be pursuing a deal with Humana, the health insurer said Monday. In light of recent and persistent speculation, Cigna confirmed that it is not pursuing a combination with Humana, in a press release early Monday.

Humana shares drop 7% premarket as Cigna confirms it won't pursue combination with the managed care insurer.

Health insurer Cigna Group said on Monday it is not pursuing a combination with peer Humana. Shares of Cigna rose 3.2% in premarket trading, while Humana fell nearly 3%. Cigna said it would only consider acquisitions that are "strategically aligned,