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Health insurer Aetna reports quarterly loss
May 2, 2017 / 10:10 AM / 7 months ago

Health insurer Aetna reports quarterly loss

May 2 (Reuters) - U.S. health insurer Aetna Inc reported a first-quarter loss on Tuesday, compared with a year-ago profit, primarily due to costs associated with the termination of the Humana merger agreement.

The No. 3 U.S. health insurer said its net loss was $381 million, or $1.11 per share, in the first quarter ended March 31, compared with a profit of $737 million, or $2.08 per share, a year earlier.

Aetna, which walked away from its $34 billion deal for Humana Inc after it was blocked, said total revenue fell to $15.17 billion from $15.69 billion.

President Donald Trump and Republican lawmakers have vowed to overhaul the Affordable Care Act, popularly known as Obamacare, but have not agreed on how to do that, making it difficult for insurers to plan for next year. (Reporting by Ankur Banerjee in Bengaluru; Editing by Shounak Dasgupta)

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