
	June 30, 2024						December 31, 2023						June 30, 2023
(In millions)	Current		Non-current		Total		Current		Non-current		Total		Total
Unpaid claims and claim expenses
Cigna Healthcare	$	5,124	$	78	$	5,202	$	5,017	$	75	$	5,092	$	5,336
Other Operations	165		151		316		99		154		253		297
Future policy benefits
Cigna Healthcare	90		506		596		97		518		615		595
Other Operations	162		3,200		3,362		163		3,375		3,538		3,587
Contractholder deposit funds
Cigna Healthcare	10		125		135		12		133		145		158
Other Operations	360		6,021		6,381		362		6,178		6,540		6,647
Market risk benefits	25		840		865		37		966		1,003		1,069
Unearned premiums	737		28		765		846		22		868		1,425
Total	6,673		10,949		17,622		6,633		11,421		18,054
Insurance and contractholder liabilities classified as liabilities of businesses held for sale (1)	(1,057)		(500)		(1,557)		(1,119)		(517)		(1,636)
Total insurance and contractholder liabilities	$	5,616	$	10,449	$	16,065	$	5,514	$	10,904	$	16,418	$	19,114

(1) Amounts classified as liabilities of businesses held for sale include $900 million of Unpaid claims, $417 million of Future policy benefits, $129 million of Unearned premiums and $111 million of Contractholder deposit funds as of June 30, 2024 and $823 million of Unpaid claims, $429 million of Future policy benefits, $261 million of Unearned premiums and $123 million of Contractholder deposit funds as of December 31, 2023.

This liability reflects estimates of the ultimate cost of claims that have been incurred but not reported, expected development on reported claims, claims that have been reported but not yet paid (reported claims in process) and other medical care expenses and services payable that are primarily comprised of accruals for incentives and other amounts payable to health care professionals and facilities.




	Six Months Ended June 30,
(In millions)	2024 (1)		2023
Beginning balance	$	5,092	$	4,176
Less: Reinsurance and other amounts recoverable	236		221
Beginning balance, net	4,856		3,955

Incurred costs related to:
Current year	18,821		17,974
Prior years	(284)		(202)
Total incurred	18,537		17,772
Paid costs related to:
Current year	14,397		13,408
Prior years	3,960		3,199
Total paid	18,357		16,607

Ending balance, net	5,036		5,120
Add: Reinsurance and other amounts recoverable	166		216
Ending balance	$	5,202	$	5,336

(1) Includes unpaid claims amounts classified as liabilities of businesses held for sale. As of June 30, 2024 and December 31, 2023, $900 million and $823 million classified as liabilities of businesses held for sale, respectively.

Reinsurance and other amounts recoverable reflect amounts due from reinsurers and policyholders to cover incurred but not reported and pending claims of certain business for which the Company administers the plan benefits without any right of offset. See Note 10 to the Consolidated Financial Statements for additional information on reinsurance.

The weighted average interest rates applied and duration for future policy benefits in the Cigna Healthcare segment, consisting primarily of supplemental health products including individual Medicare supplement, limited benefit health products and individual private medical insurance, were as follows:

The net liability for future policy benefits for the segment's supplemental health products represents the present value of benefits expected to be paid to policyholders, net of the present value of expected net premiums, which is the portion of expected future gross premium expected to be collected from policyholders that is required to provide for all expected future benefits and expenses. The present values of expected net premiums and expected future policy benefits for the Cigna Healthcare segment were as follows:




	Six Months Ended June 30,
(In millions)	2024 (1)		2023
Present value of expected net premiums
Beginning balance	$	9,233	$	8,557
Reversal of effect of beginning of period discount rate assumptions	1,154		1,537
Effect of assumption changes and actual variances from expected experience (2)	(90)		51
Issuances and lapses	848		570
Net premiums collected	(699)		(658)
Interest and other (3)	142		106
Ending balance at original discount rate	10,588		10,163
Effect of end of period discount rate assumptions	(1,357)		(1,491)
Ending balance (4)	$	9,231	$	8,672

Present value of expected policy benefits
Beginning balance	$	9,633	$	8,945
Reversal of effect of discount rate assumptions	1,220		1,611
Effect of assumption changes and actual variances from expected experience (2)	(87)		54
Issuances and lapses	855		558
Benefit payments	(725)		(661)
Interest and other (3)	147		121
Ending balance at original discount rate	11,043		10,628
Effect of discount rate assumptions	(1,432)		(1,565)
Ending balance (5)	$	9,611	$	9,063

Liability for future policy benefits	$	380	$	391
Other (6)	216		204
Total liability for future policy benefits (1)(7)	$	596	$	595

(2)Includes the effect of actual variances from expectations, which (decreased) increased the total liability for future policy benefits by $(2) million and $2 million, respectively, for the six months ended June 30, 2024 and June 30, 2023.

(3)Includes the foreign exchange rate impact of translating from transactional and functional currency to United States dollar and the impact of flooring the liability at zero. The flooring impact is calculated at the cohort level after discounting the reserves at the current discount rate.

(4)As of June 30, 2024 and June 30, 2023 undiscounted expected future gross premiums were $18.9 billion and $17.7 billion, respectively. As of June 30, 2024 and June 30, 2023 discounted expected future gross premiums were $13.2 billion and $12.3 billion, respectively.

(7)$73 million and $154 million reported in Reinsurance recoverables in the Consolidated Balance Sheets as of June 30, 2024 and June 30, 2023, respectively, relate to the liability for future policy benefits. Additionally, $80 million of reinsurance recoverables are reported in assets of businesses held for sale in the Consolidated Balance Sheets as of June 30, 2024.

Obligations 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;

Future policy benefits for Other Operations includes deferred profit liability of $0.4 billion as of both June 30, 2024 and June 30, 2023. Future policy benefits excluding deferred profit liability were $3.0 billion as of June 30, 2024 and $3.2 billion as of December 31, 2023, June 30, 2023 and December 31, 2022. The change in future policy benefits reserves year-to-date was primarily driven by benefit payments, as well as changes in the current discount rate. Undiscounted expected future policy benefits were $4.4 billion as of June 30, 2024 and $4.5 billion as of June 30, 2023. As of June 30, 2024 and June 30, 2023, $0.9 billion and $1.0 billion, respectively, of the future policy benefit reserve was recoverable through treaties with external reinsurers.

Contractholder deposit fund liabilities within Other Operations were $6.4 billion as of June 30, 2024, $6.5 billion as of December 31, 2023, $6.6 billion as of June 30, 2023 and $6.7 billion as of December 31, 2022. Approximately 38% of the balance is reinsured externally. Activity in these liabilities is presented net of reinsurance in the Consolidated Statements of Cash Flows. The net year-to-date decrease in contractholder deposit fund liabilities generally relates to withdrawals and benefit payments from contractholder deposit funds, partially offset by deposits and interest credited to contractholder deposit funds.

As of June 30, 2024, the weighted average crediting rate, net amount at risk and cash surrender value for contractholder deposit fund liabilities not effectively exited through reinsurance were 3.25%, $2.9 billion and $2.8 billion, respectively. The comparative amounts as of June 30, 2023 were 3.26%, $3.2 billion and $2.8 billion, respectively. More than 99% of the $4.0 billion liability as of June 30, 2024 and the $4.1 billion liability as of June 30, 2023 not reinsured externally is for contracts with guaranteed interest rates of 3% - 4%, and approximately $1.1 billion and $1.2 billion, as of June 30, 2024 and June 30, 2023, respectively, represented contracts with policies at the guarantee. As of both June 30, 2024 and June 30, 2023, $1.2 billion was 50-150 basis points ("bps") above the guarantee and the remaining $1.7 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 June 30, 2024 and June 30, 2023, more than 90% of these contracts have actual cash values of at least 110% of the guaranteed cash value.

Liabilities for market risk benefits 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 provide contractholders the option, within 30 days of a policy anniversary after the appropriate waiting period, to elect minimum income payments. The Company's capital market risk exposure on variable annuity reinsurance contracts arises when the reinsured guaranteed minimum benefit exceeds the contractholder's account value in the related underlying mutual funds at the time the insurance benefit is payable under the respective contract. The Company receives and pays premium periodically based on the terms of the reinsurance agreements.

Market risk benefits activity was as follows:




	Six Months Ended June 30,
(Dollars in millions)	2024		2023
Balance, beginning of year	$	1,003	$	1,268
Balance, beginning of year, before the effect of nonperformance risk (own credit risk)	1,085		1,379
Changes due to expected run-off	(6)		(14)
Changes due to capital markets versus expected	(133)		(194)
Changes due to policyholder behavior versus expected	(17)		8
Assumption changes	—		(32)
Balance, end of period, before the effect of changes in nonperformance risk (own credit risk)	929		1,147
Nonperformance risk (own credit risk), end of period	(64)		(78)
Balance, end of period	$	865	$	1,069
Reinsured market risk benefit, end of period	$	927	$	1,143

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.