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Life Health > Health Insurance

Earnings: Universal American, WellCare, Molina, HealthSpring, EHealth, AXA, ING

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More life and health insurers and insurance distributors reported earnings this week.

HEALTH

Universal American Corp., Rye Brook, N.Y. (NYSE:UAM)

4Q 2010 Results

NET INCOME: $104 million

REVENUE: $1.4 billion

4Q 2009 Results

NET INCOME: $89 million

REVENUE: $1.2 billion

- Revenue from sales of traditional insurance fell to $74 million, from $80 million.

GOVERNMENT HEALTH

WellCare Health Plans Inc., Tampa, Fla. (NYSE:WCG)

4Q 2010 Results

NET INCOME: $26 million

HEALTH PLAN MEMBERS: 2.2 million

REVENUE: $1.4 billion

4Q 2009 Results

NET INCOME: $11 million

HEALTH PLAN MEMBERS: 2.3 million

REVENUE: $1.6 billion

- WellCare manages health plans for government programs.

- The company’s overall ratio of medical benefits to premium revenue fell to 82.5%, from 86.0%.

Molina Healthcare Inc., Long Beach, Calif. (NYSE:MOH)

4Q 2010 Results

NET INCOME: $18 million

HEALTH PLAN MEMBERS: 1.6 million

REVENUE: $1.1 billion

4Q 2009 Results

NET INCOME: $4.5 million loss

HEALTH PLAN MEMBERS: 1.6 million

REVENUE: $964 million

- Molina manages health plans for government programs.

- The ratio of medical care costs to premium revenue fell to 82.7%, from 87.5%.

HealthSpring Inc., Nashville, Tenn. (NYSE:HS)

4Q 2010 Results

NET INCOME: $51 million

HEALTH PLAN MEMBERS: 304,604

REVENUE: $882 million

4Q 2009 Results

NET INCOME: $38 million

HEALTH PLAN MEMBERS: 189,241

REVENUE: $678 million

- HealthSpring runs Medicare Advantage plans and Medicare prescription drug plans and recently acquired Bravo Health, another Medicare plan provider.

- The medical loss ratio fell to 80.0%, from 81.1%.

DISTRIBUTION

EHealth Inc., Mountain View, Calif. (NASDAQ:EHTH)

4Q 2010 Results

NET INCOME: $8.6 million

REVENUE: $51 million

4Q 2009 Results

NET INCOME: $4.8 million

REVENUE: $34 million

- EHealth distributes health insurance through the Web.

- Commission revenue increased to $34 million, from $30 million.

- Total membership increased to 778,300, from 728,000.

INTERNATIONAL LIFE

AXA S.A., Paris

2010 Results

NET INCOME: 2.7 billion euros

REVENUE: 91 billion euros

2009 Results

NET INCOME: 3.6 billion euros

REVENUE: 90 billion euros.

- The U.S. life and savings arm is reporting 410 million euros in net income for 2010, up from a 28 million euro loss in 2009.

- World life and savings revenue fell to 57 billion euros, from 58 billion euros.

ING Groep N.V., Amsterdam

4Q2010 Results

NET INCOME: 433 million euros

REVENUE: 12 billion euros

4Q 2009 Results

NET INCOME: 712 million euro loss

REVENUE: 13 billion euros.

- The U.S. retirement operations generated 817 million euros in new business in the latest quarter, up from 775 million euros in the fourth quarter of 2009.

- The U.S. individual life operations increased new business to 34 million euros, from 21 million.

- U.S. employee benefits sales fell to 26 million euros, from 27 million.


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