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Aetna Reports A $54 Million Net Loss

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NU Online News Service, Nov. 7, 11:26 a.m. – Aetna Inc., Hartford, is reporting a $54 million net loss for the third quarter on $6.2 billion in revenue, down from $60 million in net income on $6.7 billion in revenue for the third quarter of 2000.

The managed care company has included $9 million in losses resulting from the Sept. 11 attacks in its latest earnings. The losses affected a unit that sells group life, group disability and group long-term care insurance products.

Aetna sells health insurance to some customers and health plan administrative services to others.

Aetna was providing major medical insurance or plan administrative services for 17.4 million people Sept. 30, down 9% from a year earlier.

Enrollment in Aetna health insurance plans fell 13%, to 8.6 million.

Major medical insurance revenue averaged $576 for each member of a major medical insurance plan, up 5% from the third quarter of 2000.