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Aetna 4Q profit falls on capital losses, medical care takes up larger revenue share
AP/Hartford Courant, February 12, 2009
Health insurer Aetna Inc. announced its profit fell 57% in the fourth quarter as healthcare costs increased, and the company sustained large capital losses. Aetna earned $194.7 million, or 42 cents per share, down from $448.4 million, or 87 cents per share. The Hartford, CT-based company spent 81.8% of its premium revenue on medical care in the quarter, compared to 80.3% a year ago.
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