CI - Why Is Health Insurance Plan Provider Cigna Stock Trading Higher Today? | Benzinga
Friday, Cigna Corporation (NYSE:CI) reported fourth-quarter 2023 sales of $ 51.15 billion, up 12% Y/Y, beating the consensus of $48.89 billion, reflecting strong growth across Evernorth Health Services and Cigna Healthcare.
Cigna Healthcare’s fourth quarter adjusted sales increased 17% Y/Y to $13 billion, reflecting customer growth and premium rate increases to cover underlying medical cost trends.
Cigna’s medical cost ratio – or spending on claims as a percentage of premiums – was 82.2% compared to 83.8% a year ago, benefitting from strong performance in the U.S. Healthcare business, including affordability initiatives, effective pricing execution, and ...