UnitedHealth Group Inc. kicked off the latest round of insurance earnings releases by announcing gains in revenue and profits.
HEALTH
UnitedHealth Group Inc., Minnetonka, Minn. (NYSE:UNH)
4Q 2010 Results
NET INCOME: $1 billion
HEALTH PLAN MEMBERS: 33 million
REVENUE: $24 billion
4Q 2009 Results
NET INCOME: $944 million
HEALTH PLAN MEMBERS: 33 million
REVENUE: $22 billion
- Total commercial health plan enrollment increased 110,000, to about 25 million, and enrollment in both insured plans and plans that UnitedHealth's managed care unit ran for self-insured employers increased slightly..
- The company's commercial medical care ratio fell to 81.2%, from 85.6% in the fourth quarter of 2009.
DISTRIBUTION
Bank America Corp., Charlotte, N.C. (NYSE:BAC)
4Q 2010 Results
NET INCOME: $1.2 billion net loss
REVENUE: $22 billion
4Q 2009 Results
NET INCOME: $194 million net loss
REVENUE: $25 billion
- Net results for the quarter include $2 billion in goodwill impairment, compared with no goodwill impairment in 2009.
- Retirement services revenue fell to $225 million, from $233 million, as retirement balances increased to $249 billion, from $229 billion.
- The number of Bank of America wealth advisors increased 2.4%, to 16,962.
Wells Fargo Corp., San Francisco (NYSE:WFC)
4Q 2010 Results
NET INCOME: $3.4 billion
REVENUE: $21 billion
4Q 2009 Results
NET INCOME: $2.8 billion
REVENUE: $23 billion
- Wells Fargo insurance income increased to $564 million, from $482 million in the fourth quarter of 2009.
- Wealth, brokerage and retirement client assets were up 12%.
- Allison Bell
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.