The Cigna Group - CI STOCK NEWS

Cigna and Oscar Health have partnered to offer Cigna + Oscar small business health insurance in various California regions. The initiative aims to address the needs of small businesses, especially in light of the pandemic, as 88% prioritize employee health. The partnership combines Cigna's extensive provider networks with Oscar’s tech-driven customer service to offer affordable and comprehensive plans. Key features include expected monthly savings, behavioral health benefits, and access to 24/7 virtual urgent care. The two companies will share risks under a reinsurance agreement and plan future expansions.

Cigna has appointed Robert Pettigrew as the new president of its Medicare Advantage plans in Alabama, Mississippi, and Northwest Florida. Pettigrew, who has nearly 15 years of experience with Cigna, will lead the expansion of Medicare products in these regions. Cigna aims to enhance accessibility to affordable healthcare through a variety of MA offerings, including a $0 premium plan. The company is growing its presence in key areas such as Birmingham, Huntsville, and the Florida panhandle.

Cigna has appointed Lisa Wagamon as president of its Medicare Advantage (MA) plans in the Carolinas, aimed at expanding its presence in the region. Wagamon brings over two decades of experience in healthcare, focusing on Medicare, Medicaid, and provider network development. Cigna's MA plans are gaining traction, offering comprehensive benefits including Parts A, B, and D coverage, sometimes at no extra cost. The company provides a $0 premium plan and operates various MA offerings across key locations in North and South Carolina, enhancing access to affordable healthcare.

AM Best has issued Long-Term Issue Credit Ratings of “bbb” for various senior unsecured notes by Cigna Corporation, totaling $4.3 billion. The notes, due between 2024 and 2051, aim to redeem maturing debts and support general corporate purposes. Cigna's financial leverage stands at over 39%, with expectations to decrease to below 40% by year-end 2021 due to improved earnings and asset sales. The outlook remains stable, as existing ratings for Cigna and its subsidiaries are unchanged.

Evernorth, Cigna's health services portfolio, announced a definitive agreement to acquire MDLIVE, a leading virtual care platform. This acquisition aims to enhance Evernorth's offerings, providing more affordable and connected patient care experiences. The deal is subject to customary closing conditions and expected to finalize in Q2 2021, pending regulatory approvals. Cigna anticipates that the acquisition will impact its adjusted earnings per share positively, with at least $20 projected for 2021.

Cigna Corporation (NYSE:CI) announced that Brian Evanko, CFO, will present at the Barclays Global Healthcare Conference on March 10, 2021, via virtual webcast at 8:00 a.m. ET. The live presentation will be accessible on Cigna's investor relations page. Participants are advised to join 15 minutes early to ensure proper software installation. Cigna, a global health service company, focuses on improving health and well-being through integrated and personalized solutions. It serves over 175 million customers worldwide.

Cigna Corporation (NYSE: CI) is set to host a virtual Investor Day on March 8, 2021, from 8:30 a.m. to 11:30 a.m. ET. The event will feature senior leaders discussing key trends in healthcare, the company’s growth strategy, and the resilience of its capital-light business model. Investors and analysts can join the event via a webcast on the Cigna Investor Relations page. A replay will be available for four weeks post-event. This initiative emphasizes Cigna’s commitment to enhancing health and wellness globally.

Cigna's International Markets business released its fifth COVID-19 Global Impact Study on Feb 11, 2021, highlighting the global disparities in well-being during vaccine rollouts. Conducted in late Nov and early Dec 2020, the study assessed family, financial, physical, social, and work indices. While the UAE and UK saw improvements in well-being scores (+1.8 and +1.6 points), countries like Thailand and Spain experienced declines. The study indicates a growing desire for office work and rising health fatigue amidst ongoing pandemic challenges. Virtual healthcare usage has surged, with 59% preferring virtual diagnoses.

Cigna Corporation (NYSE: CI) reported strong financial results for 2020, with total revenues of $160.4 billion and shareholders' net income of $8.5 billion ($22.96 per share). Adjusted revenues are projected to reach at least $165 billion for 2021. The company repurchased 21.9 million shares for $4.1 billion in 2020, achieving a debt-to-capitalization ratio of 39.5%. Despite the challenges of the COVID-19 pandemic, Cigna's health services portfolio, boosted by the launch of Evernorth, is positioned for long-term growth.