Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

US WellPoint reports USD464m profit in Q4  Join our daily free Newsletter

MENAFN - 24/01/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN) US second largest health insurer WellPoint Inc. reported a 38 percent increase in quarterly profits, AP reported.

The company said it made USD464.2 million net profit during the fourth quarter 2012, up from USD335.3 million a year earlier, when it incurred a USD50 million hit from its Medicare Advantage business, which involves privately run versions of the government's Medicare program that covers the elderly and disabled people.

This was helped, in part, by USD243 million in investment gains and an income tax settlement, the company explained.

Operating revenue, which excludes investment gains, climbed less than 1 percent to USD15.27 billion.

The insurer plans to invest USD125 million in integrating recently acquired Amerigroup Corp. into its business, and it says it could take hits from flu claims, possible cuts to Medicare funding and an increase in health care use.

The company's USD4.46 billion acquisition of Medicaid coverage provider Amerigroup Corp was a main reason for increasing its membership base by more than 5 percent to 36.1 million people in the quarter compared to a year earlier.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help