|
 The appointment comes as the health services unit, which was
rebranded last September to Evernorth, has shown resilient growth in
the last few quarters.
Palmer, who has been with Cigna for 23 years and most recently
served as the chief operating office of Evernorth, will start in his
new role from January.
Tim Wentworth, the current CEO of Evernorth, will retire by end of
this year, the company said.
The health insurer also announced several other leadership changes
to help accelerate growth across its business portfolio.
Health insurers are facing several challenges due to the COVID-19
pandemic, including direct costs related to testing, treatment and
vaccinations as well as higher disenrollment in employer-sponsored
plans from its economic impact.
[to top of second column] |
 Evernorth comprises the
pharmacy benefits management business Cigna
acquired through the 2018 buyout of Express
Scripts, as well as its specialty pharmacy
business Accredo.
Pharmacy benefit managers (PBMs) serve as
intermediaries between drug manufacturers,
health insurance plans and pharmacies to
negotiate prescription drug prices.
(Reporting by Mrinalika Roy in Bengaluru;
Editing by Sriraj Kalluvila)
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