Big 5 Health Insurers Net $3.1B in Q1 Profit

The nation's five largest health insurers totaled a combined $76.21 billion of revenue in the first quarter of fiscal year 2013, pocketing $3.1 billion of that amount in profit.

While all five giants saw revenue grow, three of them saw their first-quarter profits dip compared with the first quarter of 2012.

1. UnitedHealth Group saw earnings decline 14.4 percent relative to last year, netting $1.19 billion in the first quarter from $30.3 billion of revenue.

2. WellPoint enjoyed a modest first quarter with 3.4 percent growth in earnings year-over-year, with $885.2 million in profit from $17.7 billion in total revenue.

3. The quarter smiled on Humana, which shot its profit up 90.7 percent over last year to $474 million, the largest spike of the big five insurers.

4. Aetna's net income dropped 4 percent from last year, earning $490.1 million. Revenue for the company swelled 7 percent to $9.54 billion.

5. With a major, one-time $781 million transaction to shift its runoff reinsurance business off its future income statements, Cigna posted just $57 million in profit this quarter, down 84.6 percent from the first quarter last year. But the transaction occurred in the same quarter the company's revenue grew 21.2 percent, the largest increase of any of the other major health insurers.

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