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The Cigna Group (CI) investor relations material
The Cigna Group UBS Global Healthcare Conference 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.UBS Global Healthcare Conference 2025 summary12 Nov, 2025
Performance highlights and strategic investments
Reaffirmed full-year EPS guidance of at least $29.60, citing strong Q3 performance despite a challenging environment.
Investing in Shields, a specialty company growing 17-19% annually, to capture a large total addressable market.
Announced a transformative rebate-free PBM model, aiming to unlock long-term value and support future growth.
Capital deployment will focus on opportunistic stock repurchases and continued deleveraging.
Rebate-free PBM model and industry impact
New model provides upfront discounts to consumers, pulling the lowest price from various sources and applying it to deductibles.
Pharmacies reimbursed at acquisition cost plus a dispense fee, supporting access in rural and urban areas.
Administrative fees will be flat and delinked from drug prices, simplifying the model for clients.
Model is designed to be premium-neutral and will coexist with traditional rebate models for the foreseeable future.
Positive feedback from policymakers and manufacturers, with recontracting across the pharmaceutical landscape planned through 2028.
Transition timeline and investment
Rebate-free model launches for fully insured business in 2027 and for the broader book in 2028.
Investments in technology, process, operations, and analytics will be spread across 2026 and 2027.
Bulk of transformation spend expected in 2026-2027, with dissipation in 2028 as the model scales.
Goal to have 50% of clients on the new model by 2028.
New model's impact on regulatory overhang?
How will deleveraging affect share repurchases?
What is the margin outlook for major renewed contracts?
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Next The Cigna Group earnings date
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Frequently asked questions
A provider of healthcare services to individuals and organizations
Cigna is a global health services company that provides a range of healthcare solutions to individuals and organizations around the world.
The company operates through two main business segments:
Health Services: This segment includes the company's insurance operations, which offer a range of health and wellness products to individuals and employers.
Integrated Medical: This segment includes the company's clinical operations, which provide a range of medical services, including primary care, behavioral health, and pharmacy services.
The business model
Cigna's business model is based on providing innovative and personalized healthcare solutions to its customers. The company offers a range of insurance products, including medical, dental, vision, and disability insurance, as well as wellness and health management programs. In addition, Cigna's clinical operations provide a range of medical services to its customers, including primary care, behavioral health, and pharmacy services.
How Cigna makes money
Cigna generates revenue through a range of sources, including insurance premiums, fees for services, and investments. The company's insurance operations generate the majority of its revenue, with premiums and fees for services accounting for the bulk of its income. In addition, Cigna's investments in various businesses and ventures also generate a significant amount of revenue.
Interesting facts about Cigna
Interesting facts about Cigna include that it was founded in 1792 as the Insurance Company of North America (INA), making it one of the oldest insurance companies in the United States. The company has also been recognized for its commitment to social responsibility and sustainability, with a focus on promoting health and wellness in the communities where it operates. Three competitors of Cigna in the healthcare industry include UnitedHealth Group, Humana, and CVS Health.
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