Company: CI
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001739940-25-000021
Chunk: 183

Company: Cigna Group
Filing Date: 2025-05-02
Form: 10-Q
Item: Part II, Item 9
Chunk 183
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5 and March 31, 2024, $0.9 billion and $1.0 billion, respectively, of the future policy benefit reserve was recoverable through treaties with external reinsurers.

D.Contractholder Deposit Funds

Contractholder deposit fund liabilities within Other Operations were $6.3 billion as of both as of March 31, 2025 and December 31, 2024 and $6.5 billion as of both March 31, 2024 and December 31, 2023. Approximately 38% of the balance is reinsured externally. Activity in these liabilities is presented net of reinsurance in the Consolidated Statements of Cash Flows. Changes in contractholder deposit fund liabilities generally relates to withdrawals and benefit payments, partially offset by deposits and interest credited.

As of March 31, 2025, the weighted average crediting rate, net amount at risk and cash surrender value for contractholder deposit fund liabilities not effectively exited through reinsurance were 3.20%, $2.8 billion and $2.8 billion, respectively. The comparative amounts as of March 31, 2024 were 3.33%, $3.0 billion and $2.8 billion, respectively. More than 99% of the $4.0 billion liability as of both March 31, 2025 and March 31, 2024 not reinsured externally is for contracts with guaranteed interest rates of 3% - 4%, and approximately $1.2 billion as of both March 31, 2025 and March 31, 2024 represented contracts with policies at the guarantee. As of both March 31, 2025 and March 31, 2024, $1.2 billion was 50-150 basis points ("bps") above the guarantee and the remaining $1.6 billion represented contracts above the guarantee that pay the policyholder based on the greater of a guaranteed minimum cash value or the actual cash value. As of both March 31, 2025 and March 31, 2024, more than 90% of these contracts have actual cash values of at least 110% of the guaranteed cash value.

E.Market Risk Benefits

Liabilities for market risk benefits ("MRBs") consist of variable annuity reinsurance contracts in Other Operations. These liabilities arise under annuities and riders to annuities written by ceding companies that guarantee the benefit received at death and, for a subset of policies, also