Insurer stocks fall as Aetna raises red flag

Article Abstract:

Shares of Aetna Life and Casualty went down by 17.6% to close at $29.80 after the US' largest insurer announced that its net income for 1st qtr 2001 would be less than analysts' expectations. Aetna blamed rising medical costs for its lower-than-expected financial results. Analysts polled by Thompson Financial/First Call were expecting Aetna to post profits of $1.24 per share for FY 2001. In Dec 2000, Aetna announced that it would cut 5,000 jobs and reduce by 10% its patient base.

Sales, profits & dividends, Direct Health and Medical Insurance Carriers, Medical Care Insurance, Health insurance, Aetna Inc.

---

One in five uninsured turned down coverage

Article Abstract:

Around 20% of uninsured Americans turn down employer-sponsored health insurance, mainly because of the high cost, according to the Center for Studying Health System Change. The study said getting those voluntarily uninsured to sign up is a more effective way of cutting the uninsured rate than the existing children's health insurance program or through subsidies or tax credits.

Sales & consumption, Insurance Carriers, Accident & Health Insurance

---

Hundreds sue largest disability insurer

Article Abstract:

The largest disability insurance company in the United States, UNUMProvident, has several lawsuits pending and had several judgments won against it due to wrongful termination of benefits.

Legal issues & crime, Financial Services, Finance and Insurance, Legal/Government Regulation, Company legal issue, Cases, Financial services industry, Insurance industry, UnumProvident Corp., UNM

Similar abstracts:

• Abstracts: Net dips at United Telecom; GTE, Southwest Bell in rise. MCI posts large loss in quarter
• Abstracts: Intel stock falls on weak outlook. Flat screen venture set by Motorola
• Abstracts: The dangers of a new era. The red challenge: Russia's election becomes a two-way fight. Profiles of courage
• Abstracts: The unity industry; the battle over the constitution has generated large fees for consultants and speech writers
• Abstracts: Mitsubishi alliance may be in works. Renault pursues deal with NIssan. Same cars can cost oodles less in Canada; prices up to 40% lower because that's what market will bear

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.