Company: CI
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739940-25-000028
Chunk: 14

Company: Cigna Group
Filing Date: 2025-07-31
Form: 10-Q
Item: Part II, Item 4
Chunk 14
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ized loss position). Unrealized depreciation on these debt securities is primarily due to declines in fair value resulting from increasing interest rates since these securities were purchased. June 30, 2025December 31, 2024(Dollars in millions)FairValueAmortizedCostUnrealizedDepreciationNumberof IssuesFairValueAmortizedCostUnrealizedDepreciationNumberof IssuesOne year or lessInvestment grade$452 $456 $(4)187$1,203 $1,227 $(24)545 Below investment grade74 78 (4)308245 250 (5)739 More than one yearInvestment grade3,505 3,924 (419)9844,687 5,319 (632)1,297 Below investment grade219 248 (29)81416 469 (53)123 Total$4,250 $4,706 $(456)1,560 $6,551 $7,265 $(714)2,704 

19

Equity SecuritiesThe following table provides the values of the Company's equity security investments: June 30, 2025 December 31, 2024(In millions) CostCarrying Value CostCarrying ValueEquity securities with readily determinable fair values$639 $118 $635 $37 Equity securities with no readily determinable fair value3,218 458 3,215 524 Total$3,857 $576 $3,850 $561 

Commercial Mortgage Loans

Mortgage loans held by the Company are made exclusively to commercial borrowers and are diversified by property type, location and borrower. Loans are generally issued at fixed rates of interest and are secured by high-quality, primarily completed and substantially leased operating properties.

The Company regularly evaluates and monitors credit risk from the initial mortgage loan underwriting and throughout the investment holding period. The annual portfolio review performed in the second quarter of 2025 confirmed ongoing strong overall credit quality in line with the previous year's results. For more information on the Company's accounting policies and methodologies regarding these investments, see Note 11 in the Company's 2024 Form 10-K.

The following table summarizes the credit risk profile of the Company's commercial mortgage loan portfolio:(Dollars in millions)June 30, 2025December 31, 2024Loan-to-Value RatioCarrying ValueAverage Debt Service Coverage