Company: CI
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739940-25-000028
Chunk: 85

Company: Cigna Group
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 85
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 with their deposits and withdrawals, are excluded from the Company's Consolidated Statements of Income and Cash Flows. The separate account activity for the six months ended June 30, 2025 and 2024 was primarily driven by changes in the market values of the underlying separate account investments.

Fair values of Separate account assets were as follows:Quoted Prices in Active Markets for Identical Assets(Level 1)Significant Other Observable Inputs(Level 2)Significant Unobservable Inputs(Level 3)Total(In millions)June 30,2025December 31,2024June 30,2025December 31,2024June 30,2025December 31,2024June 30,2025December 31,2024Guaranteed separate accounts (See Note 16)$240 $231 $330 $345 $— $— $570 $576 Non-guaranteed separate accounts (1)273 267 5,651 5,575 238 228 6,162 6,070 Subtotal$513 $498 $5,981 $5,920 $238 $228 6,732 6,646 Non-guaranteed separate accounts priced at net asset value  as a practical expedient (1)641 632 Total$7,373 $7,278 

           (1)Non-guaranteed separate accounts include $3.8 billion as of both June 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 June 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 six months ended June 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