Cigna Group
For the period ended Jun 30, 2024. Filed Aug 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 1, 2024
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Other Operations
Other Operations includes corporate owned life insurance ("COLI"), the Company's run-off operations and other non-strategic businesses. See Note 1 to the Consolidated Financial Statements for additional information regarding these operations. As described in the introduction of Segment Reporting, performance of Other Operations is measured using adjusted revenues and pre-tax adjusted income from operations.
| Financial Summary · Three Months Ended June 30, · Change · Six Months EndedJune 30, · Change | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Dollars in millions) · 2024 · 2023 · 2024 · 2023 | ||||||||||||||
| Adjusted revenues | $227 | $158 | 44 | % | $393 | $315 | 25 | % | ||||||
| Pre-tax adjusted (loss) income from operations | $(16) | $29 | N/M | % | $2 | $44 | (95) | % | ||||||
| Pre-tax adjusted margin | (7.0) | % | 18.4 | % | (2,540) | bps | 0.5 | % | 14.0 | % | (1,350) | bps | ||
Adjusted revenuesfor both periods primarily reflect Premiums revenue and Net investment income associated with COLI, our run-off operations and other non-strategic businesses.
Pre-tax adjusted (loss) income from operations decreased for both periods primarily driven by unfavorable margins in our non-strategic businesses.
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