The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← Cigna

Optionality

mixed — MLR caps the shrinking Cigna Healthcare insurance core, but Evernorth/Express Scripts services is the free lever and ~$3.6B FY25 buybacks show freer capital than debt-laden CVS.

high confidence · as of 2026-07-26 · about Cigna

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the working

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