Highmark Health, the health insurer that owns Pittsburgh-based Allegheny Health Network, continued to see strong finances in the first half of this fiscal year despite AHN's $116 million operating loss.
Many insurers are seeing their finances largely unscathed by the COVID-19 pandemic, as members delay or defer elective surgeries and procedures.
Highmark earned $511 million in the first six months of 2020 and recorded an operating gain of $590 million. The insurer attributed the positive results to strong commercial business operations.
Highmark said the positive results were offset by AHN's losses, which were the first the health system recorded in 11 consecutive quarters.
Highmark ended the six-month period with $9 billion in revenue.