Third Quarter 2023 Financial Supplement - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
November 2, 2023 Newswires
Share
Share
Post
Email

Third Quarter 2023 Financial Supplement

U.S. Markets (Alternative Disclosure) via PUBT

The Cigna Group

Quarterly Financial Supplement

September 30, 2023

This document is dated November 2, 2023. The data contained in this document may

not be accurate after such date and The Cigna Group does not undertake to update or keep it accurate after such date.

The Cigna Group

September 30, 2023 Quarterly Financial Supplement

Table of Contents

Financial Highlights

1

Consolidated Income Statements

2

Evernorth Health Services Segment Analysis

3

Cigna HealthcareSegment Analysis

5

Corporate and Other Operations Analysis

9

Consolidated Balance Sheets

10

Condensed Consolidated Statements of Cash Flows

11

BASIS OF PRESENTATION:

All dollar amounts are in millions, unless otherwise noted.

The Cigna Group (the "Company" or "our") measures its financial results on a consolidated basis using adjusted income from operations and adjusted revenues. Adjusted income from operations and adjusted revenues on a consolidated basis are not determined in accordance with accounting principles generally accepted in the United States of America ("GAAP") and should not be viewed as a substitute for the most directly comparable GAAP measures which are shareholders' net income and total revenues. The Company also uses adjusted income (loss) from operations to measure the results of its segments, however the segment metric is determined before income taxes.

Adjusted income (loss) from operations is a principal financial measure of profitability used by The Cigna Group's management because it presents the underlying results of operations of the Company's businesses and permits analysis of trends in underlying revenue, expenses and shareholders' net income. The Company defines adjusted income from operations as shareholders' net income (or income before income taxes less pre-tax income (loss) attributable to noncontrolling interests for the segment metric) excluding net realized investment results, amortization of acquired intangible assets and special items. The Cigna Group's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded. Special items are matters that management believes are not representative of the underlying results of operations due to their nature or size. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results and on a pre-tax basis for segment results. Consolidated adjusted income (loss) from operations is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, shareholders' net income. See the Financial Highlights page for a reconciliation of consolidated adjusted income from operations to shareholders' net income.

Adjusted revenues is used by The Cigna Group's management because it permits analysis of trends in underlying revenue. The Company defines adjusted revenues as total revenues excluding the following adjustments: special items and The Cigna Group's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. Special items are matters that management believes are not representative of the underlying results of operations due to their nature or size. We exclude these items from this measure because management believes they are not indicative of past or future underlying performance of the business. Adjusted revenues is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, total revenues. See the Financial Highlights page for a reconciliation of consolidated adjusted revenues to total revenues.

Effective January 1, 2023, the Company adopted Accounting Standards Update ("ASU") 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts, and related amendments. Accordingly, our consolidated income statements, consolidated balance sheet, condensed consolidated statement of cash flows and segment results for Cigna Healthcare and Corporate and Other Operations, including medical care and SG&A expense ratios, for prior periods presented have been restated to reflect the adoption of the new accounting guidance. The cumulative effects of adopting the new standard were immaterial. For more information about this guidance, please refer to the Summary of Significant Accounting Policies footnote in the Company's Form 10-Q for the period ended September 30, 2023, expected to be filed on November 2, 2023, for additional details.

In some financial tables in this Quarterly Financial Supplement, we present percentage changes. When those changes are so large as to become not meaningful, we present "N/M" in place of the computed percentage.

The Cigna Group

Financial Highlights (unaudited)

(Dollars in millions, except per share amounts)

Three Months Ended September 30,

Nine Months Ended September 30,

2023

2022 (1)

% Change

2023

2022 (1)

% Change

Total revenues

$

49,048

$

45,281

8

%

$

144,151

$

134,765

7

%

Net realized investment results from certain equity method

30

80

(63)

22

134

(84)

investments

Adjusted revenues

$

49,078

$

45,361

8

%

$

144,173

$

134,899

7

%

Shareholders' net income

$

1,408

$

2,757

(49) %

$

4,135

$

5,511

(25)

%

Pre-Tax Adjusted Income (Loss) From Operations by Segment

Evernorth Health Services

$

1,716

$

1,625

6

%

$

4,552

$

4,402

3

%

Cigna Healthcare

1,222

1,050

16

3,509

3,582

(2)

Corporate and Other Operations

(409)

(295)

(39)

(1,202)

(582)

(107)

Consolidated pre-tax adjusted income from operations

$

2,529

$

2,380

6

%

$

6,859

$

7,402

(7)

%

Adjusted income tax expense

518

521

(1)

1,410

1,622

(13)

Consolidated after-tax adjusted income from operations

$

2,011

$

1,859

8

%

$

5,449

$

5,780

(6)

%

Adjusted EBITDA (2)

$

3,206

$

2,950

9

%

$

8,847

$

9,089

(3)

%

Operating cash flow (see page 11)

$

2,826

$

3,283

(14) %

$

10,346

$

6,557

58

%

SG&A expense ratio (3)

7.7

%

7.0

%

(70) bps

7.5

%

7.2

%

(30)

bps

Adjusted SG&A expense ratio (3)

7.3

%

6.9

%

(40) bps

7.3

%

7.1

%

(20)

bps

Weighted average shares (in thousands)

297,131

307,517

297,663

315,647

Three Months Ended September 30,

Nine Months Ended September 30,

2023

2022 (1)

% Change

2023

2022 (1)

% Change

Pre-tax

After-tax

Pre-tax

After-tax

Pre-tax

After-tax

Pre-tax

After-tax

Diluted earnings per share

Shareholders' net income

$

4.74

$

8.97

(47) %

$

13.89

$

17.46

(20)

%

Adjustments to reconcile to adjusted income from operations

Net realized investment losses (4)

$

0.15

0.14

$

0.53

0.48

$

0.22

0.19

$

1.99

1.62

Amortization of acquired intangible assets

1.53

1.22

1.50

1.05

4.60

3.54

4.50

3.36

Special items

Charges (benefits) associated with litigation matters

0.68

0.58

-

-

0.67

0.58

(0.09)

(0.06)

Loss (gain) on sale of businesses

0.07

0.06

(5.64)

(4.52)

0.07

0.06

(5.49)

(4.39)

Integration and transaction-related costs

0.04

0.03

0.08

0.07

0.07

0.05

0.35

0.27

Charge for organizational efficiency plan

-

-

-

-

-

-

0.07

0.05

Total special items

$

0.79

0.67

$

(5.56)

(4.45)

$

0.81

0.69

$

(5.16)

(4.13)

Adjusted income from operations

$

6.77

$

6.05

12

%

$

18.31

$

18.31

-

%

CUSTOMER RELATIONSHIPS

As of September 30,

As of December 31,

(Relationships and lives in thousands)

2023

2022

% Change

2022

% Change

Pharmacy (5)

98,325

94,846

4

%

93,905

5 %

Medical (see page 7)

19,607

17,954

9

18,004

9

Behavioral Care (6)

25,100

44,522

(44)

44,841

(44)

Dental

18,593

18,380

1

18,397

1

Medicare Part D

2,544

2,902

(12)

2,874

(11)

Total customer relationships (5) (6)

164,169

178,604

(8) %

178,021

(8) %

  1. Effective January 1, 2023, the Company adopted ASU 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts, and related amendments. Prior year results have been restated to reflect the adoption of the new accounting guidance. The cumulative effects of adopting the new standard were immaterial. Please refer to the Basis of Presentation section for additional details.
  2. Adjusted income from operations excluding interest, taxes, depreciation and amortization ("Adjusted EBITDA") is a non-GAAP measure, defined as shareholders' net income excluding income taxes and the pre-tax impact of special items, interest expense, total depreciation and amortization, and net realized investment results.
  3. SG&A expense ratio is calculated as selling, general and administrative expenses including special items divided by total revenues. Adjusted SG&A expense ratio is calculated as selling, general and administrative expenses excluding special items divided by adjusted revenues.
  4. Includes the Company's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting.
  5. Effective January 1, 2023, Pharmacy customers and total customer relationships have been updated to reflect customer filled prescriptions through Inside Rx. Previously these customers had been estimated based on active customers over a period of time. Pharmacy customers and total customer relationships for prior periods have been restated to reflect this change.
  6. Behavioral care and total customer relationships as of September 30, 2023 were impacted by the non-renewal of a supplemental behavioral coverage contract with New York Life which was insignificant to Total revenues, Shareholders' net income and Adjusted income from operations. Behavioral care and total customer relationships as of December 31, 2022 excluding the impact of the supplemental behavioral coverage contract with New York Life were 24,696 and 157,876, respectively.

1

The Cigna Group

Consolidated Income Statements (unaudited)

(Dollars in millions)

Three Months Ended September 30,

Nine Months Ended September 30,

2023

2022 (1)

% Change

2023

2022 (1)

% Change

Revenues

Pharmacy revenues

$

34,531

$

32,762

5

%

$

100,639

$

95,431

5

%

Premiums

10,998

9,586

15

33,062

30,368

9

Fees and other revenues

3,198

2,729

17

9,574

8,023

19

Net investment income

321

204

57

876

943

(7)

Total revenues

49,048

45,281

8

144,151

134,765

7

Benefits and expenses

Pharmacy and other service costs

33,639

31,777

6

98,540

92,740

6

Medical costs and other benefit expenses

8,927

7,751

15

27,007

24,215

12

Selling, general and administrative expenses excluding special items

3,574

3,127

14

10,539

9,584

10

Amortization of acquired intangible assets

454

460

(1)

1,368

1,419

(4)

Special items

214

24

N/M

221

106

108

Total benefits and expenses

46,808

43,139

9

137,675

128,064

8

Income from operations

2,240

2,142

5

6,476

6,701

(3)

Interest expense and other

(365)

(304)

(20)

(1,086)

(904)

(20)

(Loss) gain on sale of businesses

(21)

1,735

N/M

(21)

1,735

N/M

Net realized investment losses

(14)

(82)

83

(44)

(493)

91

Income before income taxes

1,840

3,491

(47)

5,325

7,039

(24)

Total income taxes

391

713

(45)

1,060

1,479

(28)

Net income

1,449

2,778

(48)

4,265

5,560

(23)

Less: Net income attributable to noncontrolling interests

41

21

95

130

49

165

Shareholders' net income

$

1,408

$

2,757

(49) %

$

4,135

$

5,511

(25) %

Three Months Ended September 30,

Nine Months Ended September 30,

2023

2022 (1)

2023

2022 (1)

Pre-tax

After-tax

Pre-tax

After-tax

% Change

Pre-tax

After-tax

Pre-tax

After-tax

% Change

Shareholders' net income

$

1,408

$

2,757

(49) %

$

4,135

$

5,511

(25) %

Adjustments to reconcile adjusted income from operations

Net realized investment losses (2)

$

44

41

$

162

145

$

66

56

$

627

513

Amortization of acquired intangible assets

454

363

460

322

1,368

1,053

1,419

1,061

Special items

Charges (benefits) associated with litigation matters

201

171

-

-

201

171

(28)

(20)

Loss (gain) on sale of businesses

21

19

(1,735)

(1,388)

21

19

(1,735)

(1,388)

Integration and transaction-related costs

13

9

24

23

20

15

112

86

Charge for organizational efficiency plan

-

-

-

-

-

-

22

17

Adjusted income from operations

$

2,011

$

1,859

8

%

$

5,449

$

5,780

(6) %

  1. Effective January 1, 2023, the Company adopted ASU 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts, and related amendments. Prior year results have been restated to reflect the adoption of the new accounting guidance. The cumulative effects of adopting the new standard were immaterial. Please refer to the Basis of Presentation section for additional details.
  2. Includes the Company's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting.

2

The Cigna Group

Evernorth Health Services

Segment Results (unaudited)

(Dollars in millions)

Three Months Ended September 30,

Nine Months Ended September 30,

2023

2022

% Change

2023

2022

% Change

Revenues

Pharmacy revenues

$

35,640

$

33,796

5

%

$

104,529

$

98,780

6

%

Fees and other revenues

2,893

1,877

54

8,276

5,316

56

Net investment income

63

25

152

175

51

243

Total revenues (1)

38,596

35,698

8

112,980

104,147

8

Benefits and expenses

Pharmacy and other service costs

36,000

33,338

8

105,819

97,625

8

Gross profit

2,596

2,360

10

7,161

6,522

10

Selling, general and administrative expenses excluding special items

837

718

17

2,468

2,078

19

Amortization of acquired intangible assets

443

442

-

1,330

1,329

-

Special items

44

-

N/M

44

-

N/M

Income from operations

1,272

1,200

6

3,319

3,115

7

Interest expense and other

1

-

N/M

(1)

(1)

-

Net realized investment (losses)

(1)

-

N/M

-

-

N/M

Income before income taxes

1,272

1,200

6

3,318

3,114

7

Pre-tax adjustments required to reconcile to adjusted income from operations

Pre-tax (income) attributable to noncontrolling interests

(44)

(17)

(140)

(41)

Net realized investment losses

1

-

-

-

Amortization of acquired intangible assets

443

442

1,330

1,329

Special items

44

-

44

-

Pre-tax adjusted income from operations

$

1,716

$

1,625

6

%

$

4,552

$

4,402

3

%

Pre-tax adjusted margin

4.4

%

4.6

%

(20) bps

4.0

%

4.2 %

(20) bps

  1. Total revenues equal adjusted revenues as there were no special items in the periods presented.

3

The Cigna Group

Evernorth Health Services

Key Metrics (unaudited)

(Dollars and adjusted scripts in millions)

Three Months Ended September 30,

Nine Months Ended September 30,

2023

2022

% Change

2023

2022

% Change

Selected Financial Information

Adjusted EBITDA (1)

$

1,887

$

1,758

7

%

$

5,033

$

4,776

5

%

Pharmacy revenue by distribution channel

Network revenues

$

16,926

$

16,583

2

%

$

49,080

$

48,221

2

%

Home delivery and specialty revenues

16,324

15,583

5

48,943

45,550

7

Other revenues

2,390

1,630

47

6,506

5,009

30

Total pharmacy revenues

$

35,640

$

33,796

5

%

$

104,529

$

98,780

6

%

Pharmacy script volume

Adjusted network scripts (2)

331

325

2

%

978

963

2

%

Adjusted home delivery and specialty scripts (2)

63

71

(11)

193

210

(8)

Total adjusted scripts (2)

394

396

(1) %

1,171

1,173

-

%

Generic fill rate

Network

86.8

%

86.6

%

20

bps

87.7

%

87.1

%

60

bps

Home delivery

85.9

%

84.7

%

120

bps

85.1

%

85.3

%

(20)

bps

Overall generic fill rate

86.7

%

86.4

%

30

bps

87.5

%

87.0

%

50

bps

  1. Adjusted EBITDA is defined as Evernorth Health Services segment pre-tax adjusted income from operations excluding interest expense and depreciation and amortization, net of amortization of acquired intangible assets that is already excluded in segment pre-tax adjusted income from operations.
  2. Non-specialtynetwork scripts filled through 90-day programs, and home delivery scripts are multiplied by three. All other network and specialty scripts are counted as one script.

4

The Cigna Group

Cigna Healthcare

Segment Results (unaudited)

(Dollars in millions)

Three Months Ended September 30,

Nine Months Ended September 30,

2023

2022 (1)

% Change

2023

2022 (1)

% Change

Revenues

Premiums

$

10,911

$

9,508

15

%

$

32,786

$

28,649

14

%

Fees and other revenues

1,651

1,488

11

4,938

4,577

8

Net investment income

176

101

74

454

545

(17)

Total revenues

12,738

11,097

15

38,178

33,771

13

Benefits and expenses

Medical costs

8,786

7,681

14

26,554

23,203

14

Selling, general and administrative expenses excluding special items

2,763

2,449

13

8,141

7,126

14

Amortization of acquired intangible assets

11

17

(35)

38

89

(57)

Special items

157

-

N/M

157

-

N/M

Total benefits and expenses

11,717

10,147

15

34,890

30,418

15

Income from operations

1,021

950

7

3,288

3,353

(2)

Interest expense and other

3

4

(25)

6

8

(25)

Net realized investment (losses)

(5)

(78)

94

(42)

(408)

90

Income before income taxes

1,019

876

16

3,252

2,953

10

Pre-tax adjustments required to reconcile to adjusted income from operations

Pre-tax (income) attributable to noncontrolling interests

-

(1)

(2)

(2)

Net realized investment losses (2)

35

158

64

542

Amortization of acquired intangible assets

11

17

38

89

Special items

157

-

157

-

Pre-tax adjusted income from operations

$

1,222

$

1,050

16

%

$

3,509

$

3,582

(2) %

Pre-tax adjusted margin

9.6

%

9.4

%

20

bps

9.2

%

10.6

%

(140) bps

Reconciliation of total revenues to adjusted revenues

Total revenues

$

12,738

$

11,097

15

%

$

38,178

$

33,771

13

%

Net realized investment results from certain equity method investments

30

80

(63)

22

134

(84)

Adjusted revenues

$

12,768

$

11,177

14

%

$

38,200

$

33,905

13

%

  1. Effective January 1, 2023, the Company adopted ASU 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts, and related amendments. Prior year results have been restated to reflect the adoption of the new accounting guidance. The cumulative effects of adopting the new standard were immaterial. Please refer to the Basis of Presentation section for additional details.
  2. Includes the Company's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting.

5

The Cigna Group

Cigna Healthcare

Premium Revenue and Medical Care Ratio (unaudited)

(Dollars in millions)

Three Months Ended September 30,

Nine Months Ended September 30,

2023

2022

% Change

2023

2022

% Change

Premiums:

U.S. Commercial

Insured

$

4,144

$

3,821

8

%

$

12,315

$

11,312

9

%

Stop loss

1,548

1,384

12

4,565

4,053

13

Other

362

353

3

1,095

1,065

3

Total U.S. Commercial

6,054

5,558

9

17,975

16,430

9

U.S. Government

Medicare Advantage

2,189

1,949

12

6,605

6,080

9

Medicare Part D

224

240

(7)

984

986

-

Other

1,610

1,029

56

4,782

3,007

59

Total U.S. Government

4,023

3,218

25

12,371

10,073

23

International Health

834

732

14

2,440

2,146

14

Total premiums

$

10,911

$

9,508

15

%

$

32,786

$

28,649

14

%

Medical Care Ratio

80.5

%

80.8

%

30

bps

81.0

%

81.0

%

-

bps

6

The Cigna Group

Cigna Healthcare

Total Medical Customers (unaudited)

COVERED LIVES BY

As of September 30,

As of December 31,

COVERED LIVES BY

As of September 30,

As of December 31,

FUNDING TYPE:

2023

2022

% Change

2022

% Change

MARKET SEGMENT: (4)

2023

2022 (5)

% Change

2022 (5)

% Change

(Lives in thousands)

(Lives in thousands)

Medical customers: (1)

Medical customers: (1)

U.S. Commercial insured

2,224

2,205

1

%

2,238

(1) %

National Accounts

5,731

5,742

-

%

5,754

-

%

U.S. Government insured

Middle Market

7,338

6,244

18

6,274

17

Medicare Advantage

599

541

11

529

13

Select

2,871

2,721

6

2,760

4

Individual (2)

898

348

158

337

166

Small

69

54

28

64

8

Medicare Supplement and Other

468

487

(4)

483

(3)

Total U.S. Commercial

16,009

14,761

8

14,852

8

Total U.S. Government insured

1,965

1,376

43

1,349

46

International Health insured (3)

1,198

1,179

2

1,169

2

U.S. Government

1,970

1,381

43

1,354

45

U.S. Commercial services only

13,785

12,556

10

12,614

9

International Health (3)

1,628

1,812

(10)

1,798

(9)

U.S. Government services only

5

5

-

5

-

International Health services only (3)

430

633

(32)

629

(32)

Total medical customers

19,607

17,954

9

%

18,004

9

%

Total medical customers

19,607

17,954

9

%

18,004

9

%

  1. Includes individuals in our Cigna Healthcare segment who meet any one of the following criteria: are covered under a medical insurance policy, managed care arrangement, or service agreement issued by Cigna Healthcare; have access to Cigna Healthcare's provider network for covered services under their medical plan; or have medical claims and services that are administered by Cigna Healthcare.
  2. As of September 30, 2023, individual business includes on-exchange Patient Protection and Affordable Care and Education Reconciliation Act ("ACA") business (884,000 customers) and off-exchange ACA business (14,000 customers).
  3. International Health excludes medical customers served by less than 100% owned subsidiaries, as well as certain customers served by our third-party administrator. International Health customers as of September 30, 2023 reflect the transition of certain runoff business to Other Operations beginning January 1, 2023.
  4. Market Segments are defined as follows:
    • the National Accounts market segment includes employers with 3,000 or more eligible employees;
    • the Middle Market segment includes employers with 500 to 2,999 eligible employees, solutions for third party payers, Taft Hartley plans, and other groups;
    • the Select market segment includes employers with 51 to 499 eligible employees;
    • the Small market segment includes employers with 2 to 50 eligible employees;
    • the U.S. Government market segment offers Medicare Advantage (both to individuals who are post-65 retirees, as well as employer group sponsored pre- and post-65 retirees), Prescription Drug Program and Medicare Supplement as managed care alternatives to publicly funded health care programs. The segment also offers individual health insurance coverage both on and off the public exchanges.
    • the International Health market segment is focused on health care coverage in our international markets, as well as health care benefits for globally mobile individuals and employees of multinational organizations.
  5. Prior year lives have been reclassified to reflect current market segment presentation at the employer level, according to the definitions discussed in note 4.

7

The Cigna Group

Cigna Healthcare

Unpaid Claims Liability (unaudited)

(Dollars in millions)

Nine Months Ended September 30,

Year Ended

2023

2022

December 31, 2022

Beginning balance

$

4,176

$

4,261

$

4,261

Less: Reinsurance and other amounts recoverable

221

261

261

Beginning balance, net

3,955

4,000

4,000

Incurred costs related to:

Current year

26,788

23,431

31,342

Prior years

(237)

(278)

(259)

Total incurred

26,551

23,153

31,083

Paid costs related to:

Current year

22,053

19,655

27,583

Prior years

3,362

3,450

3,545

Total paid

25,415

23,105

31,128

Ending balance, net

5,091

4,048

3,955

Add: Reinsurance and other amounts recoverable

226

202

221

Ending balance (1)

$

5,317

$

4,250

$

4,176

  1. The ending balance is included in the Insurance and contractholder liabilities balance on the Consolidated Balance Sheets. For additional information regarding this liability, see the Insurance and Contractholder Liabilities footnote in the Company's Form 10-Q for the period ended September 30, 2023, expected to be filed on November 2, 2023.

8

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

CIGNA Corporation published this content on 02 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2023 10:05:30 UTC.

Older

Pediatrix Medical Group Reports Third Quarter Results

Newer

Third Quarter 2023 Press Release

Advisor News

  • Gen X and millennials seek new retirement model
  • Are families ready for the costs of aging at home?
  • When a client moves, their insurance plan needs to move, too
  • A rising retirement challenge: The license to spend
  • Financial stress leaves less room for retirement saving
More Advisor News

Annuity News

  • Gen X and millennials seek new retirement model
  • Global Atlantic names Dan Farrelly head of IMO and IBD channels
  • A rising retirement challenge: The license to spend
  • What lower interest rates mean to annuity payouts
  • AM Best downgrades A-Cap insurers amid financial and regulatory troubles
More Annuity News

Health/Employee Benefits News

  • CURRENT AND HISTORICAL PUBLIC OPINION ON MEDICARE-FOR-ALL AND OTHER NATIONAL HEALTH PLAN PROPOSALS
  • NEED HELP ENROLLING IN MEDICARE? HERE'S A GUIDE TO TERMS YOU'LL ENCOUNTER
  • MEASURE TO COMBAT PENNIE FRAUD APPROVED BY SENATE COMMITTEE
  • DISCOVER YOUR BEST HEALTH PLAN: 2027 RATES AND OPTIONS FOR OPEN ENROLLMENT
  • Most Americans support switch to Medicare for all health insurance
Sponsor
More Health/Employee Benefits News

Life Insurance News

  • OWINGS MILLS INSURANCE AGENT PLEADS GUILTY TO STEALING MORE THAN $100,000 IN LIFE INSURANCE COMMISSIONS
  • Symetra Named a Fortune Best Workplace in Financial Services & Insurance™ for Fourth Consecutive Year
  • 1 in 3 U.S. workers do not have a legacy plan in place
  • MassMutual Enhances Permanent Life Insurance Portfolio With Launch of Whole Life Guard 10 Pay and Whole Life 95
  • Study Results from Cornell University in the Area of Insurance Reported (Regulatory Competition In the Us Life Insurance Industry): Insurance
Sponsor
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Lauren Sinnott Named to Ragan’s Top Women in Marketing Awards, Class of 2026 
  • Classic Car Insurer OpenRoad Insurance Expands to 40 U.S. States in Two Years
  • How Aspire General Turned an Early Technology Bet Into Claims Automation at Scale with Kyber
  • Adjusto launches AI-Native contents claims services powered by its technology platform
  • URL Insurance Group Celebrates 40 Years of Service, Growth, and Industry Leadership
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.