Aetna Q4 Profit Up 94%

Fourth-quarter net income at health insurer Aetna shot up 94 percent year-over-year, from $190.1 million in 2012 to $368.9 million in 2013.

For the three months ended Dec. 31, Aetna reported approximately $13.2 billion in revenue, up nearly 33 percent from $9.9 billion the previous year. For the year ended Dec. 31, Aetna reported net income of $1.9 billion, a 15 percent increase from nearly $1.7 billion in 2012. The insurer reported $47.3 billion in revenue in 2013, a 29 percent increase from $36.6 billion in 2012. 

The rise in profit was partly driven by the insurer's acquisition of Coventry Health Care. The Coventry merger was valued at $5.7 billion when announced in August 2012.

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