Company: CI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001739940-25-000037
Chunk: 90

Company: Cigna Group
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 90
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 31,2024September 30,2025December 31,2024Guaranteed separate accounts (See Note 16)$248 $231 $333 $345 $— $— $581 $576 Non-guaranteed separate accounts (1)274 267 5,809 5,575 213 228 6,296 6,070 Subtotal$522 $498 $6,142 $5,920 $213 $228 6,877 6,646 Non-guaranteed separate accounts priced at net asset value as a practical expedient (1)656 632 Total$7,533 $7,278 

           (1)Non-guaranteed separate accounts include $3.8 billion as of both September 30, 2025 and December 31, 2024 in assets supporting the Company's pension plans, including $0.2 billion classified in Level 3 as of both September 30, 2025 and December 31, 2024. Non-guaranteed separate accounts are primarily comprised of securities partnerships, real estate and real estate funds.

Separate account assets classified in Level 3 primarily support the Company's pension plans and include certain newly issued, privately placed, complex or illiquid securities that are priced using methods discussed above, as well as commercial mortgage loans. Activity, including transfers into and out of Level 3, was not material for the three and nine months ended September 30, 2025 or 2024. 

B.Assets and Liabilities Measured at Fair Value under Certain Conditions

Some financial assets and liabilities are not carried at fair value, such as commercial mortgage loans that are carried at unpaid principal, investment real estate that is carried at depreciated cost and equity securities with no readily determinable fair value when there are no observable market transactions. However, these financial assets and liabilities may be measured using fair value under certain conditions, such as when investments become impaired and are written down to their fair value, or when there are observable price changes from orderly market transactions of equity securities that otherwise had no readily determinable fair value.For the nine months ended September 30, 2025, impairments recognized requiring the assets and liabilities described above to be measured at fair value were not material. For the nine months ended September 30, 2024, we determined our investment in VillageMD was fully impaired and recorded a $2.7 billion loss in