Cigna reported a $277 million net loss during its Q1 earnings call on Thursday. This compares with profits of $1.27 billion a year earlier.
The loss is driven by a non-cash after-tax net realized investment loss of $1.8 billion, primarily related to a VillageMD impairment charge to write off assets.
Cigna reports $277 net loss amid VillageMD Clinic asset decrease
