New Delhi, May 13 -- UnitedHealth Group CEO Andrew Witty has stepped down for personal reasons, the company announced on Tuesday (May 13). The company, America's largest health insurer, is grappling with a triple crisis: soaring medical costs tied to its Medicare Advantage business, shaken investor confidence after a rare earnings miss, and deep reputational damage following the high-profile murder of a senior executive late last year.

"To all stakeholders, including employees and shareholders, I'm deeply disappointed. and apologize for the performance setbacks," said Stephen Hemsley, who has now stepped in as CEO, a role he held from 2006 to 2017.

UnitedHealth on Tuesday also suspended its full-year 2025 forecast, citing higher-than-ex...