Cigna Group
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 27, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Shareholders' Equity and Dividend Restrictions
Note 19 – Shareholders' Equity and Dividend Restrictions
State insurance departments and foreign jurisdictions that regulate certain of the Company's subsidiaries prescribe accounting practices (differing in some respects from GAAP) to determine statutory net income and surplus. The Company's life, accident, and health insurance and Health Maintenance Organization ("HMO") subsidiaries are regulated by such statutory requirements. The statutory net income of the Company's life, accident, and health insurance and HMO subsidiaries for the years ended, and their statutory surplus as of, December 31 were as follows:
| (In billions) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net income | $3.9 | $5.3 | $5.7 |
| Surplus | $16.0 | $14.9 | $16.4 |
The Company's HMO and life, accident and health insurance subsidiaries are also subject to minimum statutory surplus requirements and may be required to maintain investments on deposit with state departments of insurance or other regulatory bodies. Additionally, these subsidiaries may be subject to regulatory restrictions on the amount of annual dividends or other distributions (such as loans or cash advances) that insurance companies may extend to their parent companies without prior approval. These amounts, including restricted GAAP net assets of the Company's subsidiaries, were as follows:
| (In billions) | December 31, 2024 |
|---|---|
| Minimum statutory surplus required by regulators (1) | $5.2 |
| Investments on deposit with regulatory bodies | $0.4 |
| Maximum dividend distributions permitted in 2025 without regulatory approval | $3.9 |
| Maximum loans to the parent company permitted without regulatory approval | $1.4 |
| Restricted GAAP net assets of subsidiaries of The Cigna Group | $11.3 |
(1) Excludes amounts associated with foreign operated equity method joint ventures.
Permitted practices used by the Company's insurance subsidiaries in 2024 that differed from prescribed regulatory accounting had an immaterial impact on statutory surplus.
Undistributed earnings for equity method investments are $1.2 billion as of December 31, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.