Indianapolis-based Anthem Inc. (NYSE: ANTM) is reporting a third quarter net income of $617.8 million, compared to $654.8 million during the same period last year. The insurer says results were impacted by expenses related to the planned acquisition of CIGNA Corp. (NYSE: CI). Despite lower profit, Anthem says medical enrollment totals increased by around 1.2 million members over last year at this time.
The increase was bolstered by rising Commercial & Specialty Business, National and Local Group and Medicaid enrollments.
Chief Executive Officer Joe Swedish says "our third quarter results reflected our focus on improving affordability for our members and capitalizing on growth opportunities across our businesses. The strong membership growth across the majority of our lines of businesses this year is further testament to the value proposition we bring to the marketplace."
The company says results were in-line with expectations and has updated the full-year operating revenue forecast to be approximately $83.5 billion.
In the quarterly earnings report, Anthem did not provide any updated timeline of the proposed Cigna deal, which was previously expected to wrap later this year.
You can connect to Anthem’s full earnings report by clicking here.