Company: CI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001739940-25-000037
Chunk: 136

Company: Cigna Group
Filing Date: 2025-10-30
Form: 10-Q
Item: Part II, Item 7
Chunk 136
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$944 Reinsured market risk benefit, end of period$756 $1,008 

The following table presents the net amount at risk and the average attained age of contractholders (weighted by exposure) for contracts assumed by the Company. The net amount at risk is the amount the Company would have to pay to contractholders if all deaths or annuitizations occurred as of the earliest possible date in accordance with the insurance contract. The Company should be reimbursed in full for these payments unless the Berkshire reinsurance limit is exceeded, as discussed further in Note 10 to the Consolidated Financial Statements.(Dollars in millions, excludes impact of reinsurance ceded)September 30, 2025September 30, 2024Net amount at risk$1,141 $1,361 Average attained age of contractholders (weighted by exposure)78.2 years77.6 years

Note 10 – ReinsuranceThe Company's insurance subsidiaries enter into agreements with other insurance companies to limit losses from large exposures and to permit recovery of a portion of incurred losses. Reinsurance is ceded primarily in acquisition and disposition transactions when the underwriting company is not being acquired. Reinsurance does not relieve the originating insurer of liability. Therefore, reinsured liabilities must continue to be reported along with the related reinsurance recoverables. The Company regularly evaluates the financial condition of its reinsurers and monitors concentrations of its credit risk. 

The majority of the Company's reinsurance recoverables resulted from acquisition and disposition transactions in which the underwriting company was not acquired. The Company bears the risk of loss if its reinsurers and retrocessionaires do not meet or are unable to meet their reinsurance obligations to the Company. The Company reviews its reinsurance arrangements and establishes reserves against the recoverables primarily for expected credit losses.

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The Company's reinsurance recoverables as of September 30, 2025 are presented at amount due by range of external credit rating and collateral level in the following table, with reinsurance recoverables that are market risk benefits separately presented at fair value:(In millions)Fair Value of Collateral Contractually Required to Meet or Exceed Carrying Value of RecoverableCollateral Provisions Exist That May Mitigate Risk of Credit Loss (1)No CollateralTotalOngoing operationsA- equivalent and higher current ratings (2)$— $6 $227 $233 BBB- to BBB+ equivalent current credit ratings (2)— — 64 64 Not rated85 7