UnitedHealth Group on Thursday named Tim Noel, the head of its Medicare business, to the top job at its health insurance business, a month after the unit’s former CEO Brian Thompson was killed.

UnitedHealth Group Inc. promoted the head of its Medicare health plan business to lead the company’s broader insurance division, filling the job previously held by slain executive Brian Thompson. Tim Noel,

UnitedHealth Group said veteran internal executive Tim Noel will succeed the late Brian Thompson as CEO of UnitedHealthcare, the nation’s largest health insurance company.

UnitedHealth Group promoted the head of its Medicare health plan business to lead the company’s broader insurance division, filling the job previously held by slain executive Brian Thompson.

UnitedHealth reported fourth-quarter results on Thursday that reflected persistent challenges for the health insurance sector.

In his first public comments since one of his executives was shot to death, UnitedHealth Group CEO Andrew Witty said the healthcare system “needs to function better.”

The company said Thursday that Tim Noel will be CEO of UnitedHealthcare, replacing Brian Thompson, who was killed in New York City in December.

In 2024, UnitedHealth Group saw full year revenue grow 8% over 2023 to reach $400.3 billion. Adjusted earnings from operations, excluding costs related to last year’s cyberattack on Change Healthcare and the company’s sale of its South American operations, were $34.4 billion for full year 2024.

UnitedHealth Group will promote one of its top insurance executives to replace Brian Thompson, the slain CEO of its UnitedHealthcare arm. The company said Thursday that Tim Noel will become the next UnitedHealthcare leader. Noel most recently led UnitedHealthcare’s Medicare and retirement business. He joined the company in 2007.

UnitedHealth Group (NYSE:UNH), a leading diversified healthcare company with a substantial market capitalization of $469.7 billion, continues to navigate a complex landscape of opportunities and challenges as it maintains its position as a dominant force in the healthcare industry.

After a dip in the wake of the release of UnitedHealth Group's Q4 2024 earnings figures, shares in the company and other managed care insurers have largely bounced back.