Posted on 30 Jul 2013 by Neilson
Hartford health insurer Aetna posted $536 million in profit in its second quarter, up 17 percent from the same quarter a year ago.
The company posted $11.54 billion in revenue in its second quarter, a 31-percent increase driven by growth in premium revenues.
"Strong performance in our commercial insured and Medicaid businesses allowed us to post strong operating revenues and earnings while absorbing the impacts of sequestration and isolated pressure in our Medicare business," Shawn M. Guertin, senior vice president and CFO, said in a statement.
During the quarter, Aetna completed its acquisition of Maryland-based Coventry Health Care.