Cigna Group Stock Price, News & Analysis

Cigna Corporation has expanded its Medicare Advantage network by incorporating Iora Primary Care providers in Maricopa County, Arizona, effective immediately. This addition allows customers in all Cigna MA plans to access Iora's 12 practices, enhancing care for adults over 65. Cigna has increased its provider network by over 25% in the last 18 months, with more than 80% of members in value-based care arrangements. Iora Health's focus on comprehensive care aligns with Cigna's goal of improving health outcomes and customer satisfaction.

Cigna Corporation (NYSE:CI) announced that CFO Brian Evanko will present at the Credit Suisse 30th Annual Healthcare Conference on November 9, 2021, via a virtual webcast. The presentation is set to begin at 8:50 a.m. ET, and participants can access it through Cigna's investor relations page. Cigna is dedicated to improving healthcare access and affordability through a range of integrated services and operates in over 30 countries, serving 190 million customer relationships worldwide.

Cigna is expanding its Medicare business into Portland, offering Medicare Advantage (MA) plans in Clackamas, Multnomah, Washington counties in Oregon, and Clark County in Washington. These plans include benefits like vision, dental, and hearing coverage, available at a $0 premium. The HMO plan features unique support for daily living activities, while the PPO provides out-of-network services at higher costs. Enrollment starts during the Annual Election Period from Oct. 15 to Dec. 7, effective Jan. 1, 2022.

Cigna Corporation (NYSE: CI) will announce its third quarter 2021 financial results on November 4, 2021, at 6:30 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss these results. Participants are encouraged to call in by 8:15 a.m. ET. The call will be accessible via a live Internet webcast and will also be available for replay. Cigna continues to enhance its healthcare services and maintain a global presence with over 190 million customer relationships.

AM Best has placed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of 'a' (Excellent) of Cigna Life Insurance New Zealand Limited (CLINZ) under review with positive implications. This follows Cigna Corporation's announcement on October 7, 2021, regarding the sale of its life and supplemental benefits businesses to Chubb Limited for USD 5.75 billion. The review will assess the impact of this acquisition, including potential changes in ratings and support from the new parent company, Chubb.

AM Best has affirmed Cigna's Long-Term Issuer Credit Rating at 'bbb' and its Long- and Short-Term Issue Ratings following the announcement of Cigna's sale of its life, accident, and supplemental benefits business to Chubb Limited for $5.75 billion. This transaction involves operations in seven countries, contributing about $3 billion in premium revenue, and is expected to close in Q2 2022, pending regulatory approvals. Proceeds will be used for general corporate purposes, including share repurchases.

AM Best has affirmed that the Credit Ratings of Chubb Limited (NYSE: CB) and its subsidiaries remain stable after their agreement to acquire Cigna Corporation’s life and non-life insurance operations in seven Asia-Pacific markets for $5.75 billion. The acquisition is expected to enhance Chubb's market presence and product capabilities, particularly in the Korean accident and health sector, projected to generate approximately $3 billion in net premiums. Closing of the transaction is anticipated in 2022, pending regulatory approvals.

Cigna Corporation (NYSE: CI) has entered a definitive agreement with Chubb (NYSE: CB) to divest its life, accident, and supplemental benefits businesses in seven countries for $5.75 billion. The transaction, expected to close in 2022, will allow Cigna to focus on its global health services portfolio. After the sale, Cigna anticipates approximately $5.4 billion in net after-tax proceeds, primarily for share repurchases. The sale will slightly dilute Cigna's earnings per share in 2022.

Cigna has announced a third consecutive year of expansion in its Medicare Advantage (MA) offerings, increasing its reach by adding 108 new counties in Connecticut, Oregon, and Washington. The company's presence now spans 477 counties across 26 states and the District of Columbia, marking an 80% increase since 2019. Cigna will offer affordable plans with features like $0 copays for various services and unique benefits tailored for seniors, including diabetes care and social connection programs. The Medicare Annual Election Period begins on October 15, 2021, and ends on December 7, 2021.