UnitedHealth Appoints Tim Noel as UnitedHealthcare CEO
UnitedHealth Group (UNH) has announced the appointment of Tim Noel as Chief Executive Officer (CEO) of its health insurance unit, UnitedHealthcare. Noel will succeed Brian Thompson, who was tragically shot and killed last month.
Noel has held various leadership roles at UnitedHealth since 2007 and currently serves as CEO of UnitedHealthcare Medicare & Retirement. With his deep industry expertise and proven track record, Noel is well-positioned to lead UnitedHealthcare.
"Tim Noel's unparalleled experience and commitment to improving healthcare for all stakeholders make him the ideal choice for this role," said UnitedHealth Group in a statement.
Noel will oversee the $298 billion revenue unit, which is the largest business segment under UnitedHealth's parent company. His appointment comes at a pivotal time for the company, which recently reported slightly disappointing earnings and is implementing artificial intelligence to streamline operations.
In 2024, UnitedHealth reported $400 billion in full-year revenue, an 8% increase year over year. Despite challenges from the Change Healthcare cyberattack, the company recorded $14 billion in profits. However, medical costs were higher than expected, with a medical loss ratio of 87.6%.
Tim Noel's appointment is expected to bring stability and leadership to UnitedHealthcare, helping the company navigate industry challenges and continue to deliver value to its customers.