Cigna Group (CI) stock experienced a pre-market plunge of 11.31% on Thursday, following the company's disappointing fourth-quarter earnings report. The health insurer reported adjusted earnings per share of $6.64, missing analysts' estimates of $7.82, due to higher-than-expected medical costs in its stop-loss insurance business.
Cigna's medical care ratio, the percentage of premiums spent on medical care, increased to 87.9% in the fourth quarter, up from 82.2% a year ago and above analysts' expectations of 84.84%. The company cited higher medical costs for its stop-loss insurance product, which covers employers' self-funded plans when costs surpass a certain threshold due to catastrophic or unexpected medical claims.
Consequently, Cigna also lowered its full-year 2025 profit forecast to at least $29.50 per share, below the analysts' estimates of $31.50 per share. CEO David Cordani stated that the company is "taking corrective actions to address these near-term pressures" in the stop-loss business.
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