CI · 10-Q · 2026Q3 · Full report

Operating Expense Trends

Cigna Group · 2026-11-05 · Importance 30 · Surprise 40

Consolidated SG&A expense increased 7% in the third quarter of 2026, primarily because investment and growth initiatives added 12%, partially offset by operating efficiencies of 5%. For the first nine months, SG&A expense declined 2%, reflecting the HCSC transaction’s 6% reduction and operating efficiencies of 5%, partly offset by 9% higher spending on growth investments and initiatives. Cigna Healthcare’s SG&A expense ratio fell 30 basis points in the quarter and 10 basis points for the nine months, with efficiencies partly offset by spending on growth initiatives.

Key facts

• Cigna SG&A expenses increased 7% in the third quarter of 2026, primarily reflecting higher investment and initiative spending to support growth (+12%), partly offset by operating efficiencies (-5%). source
• Cigna SG&A expenses decreased 2% in the first nine months of 2026, reflecting the HCSC transaction (-6%) and operating efficiencies (-5%), partly offset by higher investment and initiative spending to support growth (+9%). source
• Cigna Healthcare's SG&A expense ratio decreased 30 basis points in the third quarter of 2026, primarily due to operating efficiencies (-110 basis points) and revenue growth outpacing volume-related expenses (-60 basis points), partly offset by higher growth investment spending (+80 basis points). source
• Cigna Healthcare's SG&A expense ratio decreased 10 basis points in the first nine months of 2026, primarily due to operating efficiencies (-90 basis points) and revenue growth outpacing volume-related expenses (-80 basis points), partly offset by the HCSC transaction (+70 basis points) and higher growth investment spending (+60 basis points). source