Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Health Insurance

Earnings: IHC, Health Benefits Direct

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

Efforts to cope with a soft medical stop-loss market hurt results at Independence Holding Company during the third quarter.

IHC, Stamford, Conn., is reporting an $8.4 million net loss for the third quarter on $106 million in revenue, compared with $4.1 million in net income on $93 million in revenue for the third quarter of 2006.

IHC added $15 million to its reserves for medical stop-loss business written in 2006 and 2007, the company says.

Both the frequency and severity of claims from business written in 2006 have increased, IHC says.

Trends for business written in 2007 are hard to gauge, but IHC is increasing reserves for those policies to be on the safe side, the company says.

Early indications are that pricing should start to harden in 2008, IHC says.

- Health Benefits Direct Corp., Radnor, Pa., an insurance distribution startup, is reporting a $3.5 million net loss for the third quarter on $8.6 million in revenue, compared with a $4.1 million net loss on $7.3 million in revenue for the third quarter of 2006.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.