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Cigna's profits up 70% in Q3 and 3 more company updates

Here are four Cigna updates reported on by Becker's since Oct. 21:

  1. Cigna raised its annual earnings outlook and reported a 70 percent boost in third- quarter profits compared to the same period last year. The company's total revenue in the third quarter was $45.3 billion, a 2.2 percent increase from the same period last year. Cigna's total revenues this year are $134.8 billion.

 

  1. Cigna Ventures, the venture capital arm of health insurance giant Cigna, participated in the $44.5 million growth equity round for Valera Health, a virtual mental health company that partners with hospitals and health systems to help connect patients with virtual mental healthcare.

 

  1. Cigna was ranked on the Fortune "100 Fastest-Growing Companies" list for 2022, based on revenue growth, profits and stock returns over the three-year period through June 30, 2022. Its revenue grew by 33 percent during the three-year period and was ranked 79th on the list. 

 

  1. U.S. News and World Report named Cigna as a top insurance company for Medicare Advantage plans in Alabama and Tennessee, based on its 2023 CMS star ratings. 

 

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