UnitedHealth CEO Shooting Sparks Over 6% Stock Drop in Major Insurance Firms

Benzinga 2024-12-11

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UnitedHealth Group and major insurance stocks fell over 6% following the fatal shooting of UnitedHealthcare CEO Brian Thompson in Manhattan last week. UnitedHealth, CVS Health, and Cigna are among the nation's largest private health insurers, and UnitedHealthcare is the largest payer of health insurance benefits in the U.S. Luigi Mangione is accused of the shooting and reportedly criticized the healthcare industry in writings found during his arrest. Healthcare equity strategist Jared Holz noted renewed backlash against insurers' business models but expects the stock impact to be temporary. Prosecutors charged Mangione with second-degree murder and other crimes, citing his anti-corporatist sentiments.

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