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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