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July 14, 2020 at 06:04 PM
Executives from UnitedHealth Group will kick off life, health and annuity issuers’ second-quarter earnings release season tomorrow, by posting the company’s results, and then holding a conference call to discuss the results with securities analysts.
UnitedHealth— a giant health insurer that positions itself as a health care company and goes light on use of the word “insurance” — will face urgent questions from analysts who want to know how facing a full three months of work-at-home recommendations has affected sales, care management operations, pharmacy benefits management results, and health insurance claims.
(Related: Publicly Traded Life and Annuity Issuers Prepare to Talk About COVID-19 With Investors)
Principal Financial Group is currently scheduled to be the first life and annuity issuer to release earnings. It’s preparing to show how its quarter went July 28.
Insurers got through the first 10 weeks of the first quarter in a world where going to a hotel conference room to attend a conference, with a 1,000 people packed into a ballroom for a general session, was no big deal.
Insurance company executives emphasized during the conference calls for first-quarter results that they had seen only a small number of COVID-19-related claims, and that sales, revenue and earnings had been strong before the pandemic changed everything, in mid-March.
