Becker's Healthcare January 30, 2025
The Cigna Group saw a 34% decline in profits year over year as the company faces rising costs within its insurance business, according to its fourth quarter earnings report published Jan. 30.
“While higher medical costs in our stop loss product impacted fourth quarter earnings, we are taking corrective actions to address these near-term pressures and we are simultaneously taking steps to further advance our long-term growth strategy,” David Cordani, chairman and CEO of The Cigna Group, said.
Total revenues in the fourth quarter were $65.6 billion, up 28% year over year. Total revenues in 2024 were $247 billion, up 27%.
In the fourth quarter, net income was more than $1.4 billion, up 38%. Year-end net income was $3.4...
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