What drove CI's earnings growth in Q3 2024?

The Cigna Group's (NYSE:CI) earnings growth in Q3 2024 can be attributed to several key factors:

1. **Revenue Growth**: The company's revenue increased by 24.6% year-over-year to $60.52 billion in Q3 2024, compared to $48.62 billion in the same period last year. This growth in revenue was driven by strong performance across its segments, including medical care ratio improvements and growth in both pharmacy and Evernorth health services revenues.
2. **Expense Management**: Cigna's medical care ratio, which represents the proportion of premiums spent on medical claims, improved to 82.3% in Q2 2024, compared to an average estimate of 82.2% from analysts. This indicates effective cost management, which contributes to higher profitability.
3. **Investment Income**: The company's net investment income increased by 15% year-over-year to $321 million in Q3 2024. This growth in investment income provides an additional boost to the company's earnings.
4. **Market Expansion**: Cigna's expansion into new markets and segments has contributed to its revenue growth. For example, the company has been expanding its Medicare Advantage plans and has seen growth in its international health business.

In summary, Cigna's earnings growth in Q3 2024 is driven by strong revenue growth, effective expense management, and growth in investment income, along with strategic market expansion.