The Cigna Group raised its year-end adjusted income from operations to at least $29.60 per share, according to the company’s first quarter earnings published May 2.
Total revenues in the first quarter were $65.5 billion, up 14% year over year. Net income was $1.3 billion.
Evernorth’s adjusted revenues rose 16% year over year to $53.7 billion. The insurance side of the business, Cigna Healthcare, reported first-quarter revenues of $14.5 billion, up 9% from the previous year.
The company’s medical loss ratio was 82.2% in the first quarter, compared to 79.9% during the same period last year.
As of March 31, Cigna had 18 million total medical members, down 5.9% year over year.
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