Highmark reports $15.2 billion in revenue; net profits slide

Pittsburgh-based Highmark Inc. recorded more than $15 billion in 2012 revenues, but the company's net income slid last year and will continue to be weak in the years ahead, the health insurer's chief financial officer said Wednesday. In its annual financial update, the insurer also reported its base of policyholders remained stable, despite a bruising battle for customers with UPMC Health Plan, Aetna and other health insurers over the last few years. Even with rough waters ahead and behind, "Highmark had a very good year in 2012," said Nanette DeTurk, executive vice president and chief financial officer, in a telephone news conference.