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Universal American Reports Lower 2nd Quarter Net Income

By Staff Writer

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NU Online News Services, Aug. 8, 2:56 p.m. – Universal American Financial Corp., Rye Brook, N.Y., is reporting $3.3 million in net income for the second quarter on $83 million in revenue, compared with $6.1 million in net income on $75 million in revenue for the second quarter of 2001.

Net results for the latest quarter included $4.3 million in investment losses.

Operating income, which excludes investment results and other gains and charges, increased to $7.6 million, from $6.2 million.

Universal American sells insurance products to older consumers and long-term care insurance administrative services.

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