Cigna Corporation

The Cigna Group (formerly known as Cigna Corporation) (NYSE:CI) is a Connecticut-based health services company that provides integrated health plans and services, including medical, dental, disability, life, and accident insurance and related products and services. The company’s key services in the US include life, accident, disability, and dental insurance, as well as pension, profit-sharing, retirement plans, and investment management. The company also provides similar products and services internationally to multinational employers worldwide and local employers and individuals in selected countries outside the US. Following its USD 67 billion acquisition of Express Scripts in 2018, Cigna made its foray into the pharmacy benefits management space. The group has been listed on the New York Stock Exchange since 1982. For 2022, it reported total revenues of USD 180.5 billion in 2022, with more than 18 million medical customers as of the end of the year.

The Cigna Group operates via three segments: Evernorth Health Services (~78% of revenue), Cigna Healthcare (~25% of revenue), and Other Operations (~1% of revenue). Its Evernorth Health Services segment offers Pharmacy Benefits, Home Delivery Pharmacy, Specialty Pharmacy, Distribution and Care Delivery, and Management Solutions. The Cigna Healthcare segment includes the US Commercial, US Government, and International Health units. Other Operations comprise the company’s corporate-owned life insurance business, certain run-off businesses, and businesses the company is looking to exit. Revenues from the US accounted for nearly 97% of the company’s top-line in 2022.

Cigna aims to end 2023 with YoY revenue growth in excess of 6% and more than 1.7x the customer growth it achieved in 2022. The company also aims to cut down greenhouse gas emissions in half and move to 100% renewable energy by the end of the decade, with several investments already underway. Cigna also expanded its commitment to its venture fund by investing an additional USD 450 million in 2022; the same year it contributed USD 2.5 billion toward VilageMD’s USD 8.9 billion acquisition of Summit Health.