With Merger Pending, Anthem Reports Big Quarter

Anthem ranked highest among Indiana companies on the 2016 Fortune 500 list.

Indianapolis-based Anthem Inc. (NYSE: ANTM) is reporting full-year net income of $2.5 billion, compared to $2.6 billion in 2015. The insurance provider says profit doubled during the fourth quarter to $368.4 million, which was offset slightly by costs related to its planned acquisition of Cigna Corp. (NYSE: CI).

Earlier this month and just days before another massive industry merger — Aetna’s $37 billion deal for Humana — was halted by the U.S. Department of Justice, Anthem announced it was extending the termination date of its $54 billion plans until April 30. In Wednesday’s quarterly and full-year earnings report, Anthem did not update the expected timeline for the merger.

Anthem says its medical enrollment increased in 2016 by 1.3 million members, putting it up to a total of nearly 40 million as of December 31. Chief Executive Officer Joe Swedish says "our fourth quarter 2016 core earnings and financial metrics tracked well versus our expectations, reflecting the efforts of all of our associates to improve affordability on behalf of our members. We are well positioned for a successful 2017, building off of improved business momentum in the second half of 2016."

You can connect to the earnings report by clicking here.