UnitedHealthcare Names New CEO Amid Industry Turmoil

PHOENIX, Ariz. — UnitedHealthcare, the largest private health insurer in the U.S., announced Thursday the appointment of Tim Noel as its new CEO. Noel, a company veteran, replaces Brian Thompson, who was murdered in Manhattan in December 2023.

Noel previously led UnitedHealthcare’s Medicare and retirement division, overseeing a critical segment of the company’s business. UnitedHealthcare is the insurance arm of UnitedHealth Group, the nation’s largest health-care conglomerate with a market cap exceeding $480 billion. In a statement, UnitedHealth Group praised Noel’s “unparalleled experience” and “strong commitment to improving how health care works for consumers, physicians, employers, governments, and other partners.”

The leadership change comes amid heightened security concerns in the insurance industry following Thompson’s death. Companies have increased executive protections and removed personal information from public websites. The alleged shooter, 26-year-old Anthony Mangione, faces charges including murder and terrorism and is being held without bond in Brooklyn, New York.

Noel’s appointment also coincides with rising challenges in the Medicare Advantage sector, a key growth area for UnitedHealthcare. Medicare Advantage plans, which serve nearly 13.7 million patients, have seen escalating costs as seniors resume medical procedures delayed during the COVID-19 pandemic. UnitedHealth Group CEO Andrew Witty recently acknowledged the need for a more efficient and less costly health-care system, though he did not specify how the company would address these issues.

In its latest earnings report, UnitedHealth Group posted $400.3 billion in revenue for 2024, an 8% increase from the previous year. The company projects revenue to grow to $450 billion to $455 billion in 2025, despite missing Wall Street‘s fourth-quarter expectations due to weaknesses in its insurance business.