Company: CI
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001739940-25-000021
Chunk: 135

Company: Cigna Group
Filing Date: 2025-05-02
Form: 10-Q
Item: Part II, Item 4
Chunk 135
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 discount rate 5.30 %5.16 %Weighted average duration 10.8 years11.3 yearsObligations for annuities represent discounted periodic benefits to be paid to an individual or groups of individuals over their remaining lives. Other Operations' traditional insurance contracts, which are in run-off, have no premium remaining to be collected; therefore, future policy benefit reserves represent the present value of expected future policy benefits, discounted using the current discount rate, and the remaining amortizable deferred profit liability.

Future policy benefits for Other Operations includes deferred profit liability of $359 million as of March 31, 2025 and $379 million as of March 31, 2024. Future policy benefits excluding deferred profit liability were $3.0 billion as of March 31, 2025, $3.1 billion as of March 31, 2024, $2.9 billion as of December 31, 2024, and $3.2 billion as of December 31, 2023. Undiscounted expected future policy benefits were $4.3 billion as of March 31, 2025 and $4.4 billion as of March 31, 2024. As of March 31, 2025 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