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Aetna profit slips as insurer settles lawsuit

Published
  • January 31 2013, 11:06am EST

Aetna Inc., the third-biggest U.S. health insurer, said fourth-quarter profit fell 49% as the company settled a lawsuit over medical claims while costs for patient care climbed.

Net income dropped to $190.1 million, or 56 cents a share, with the higher costs masking a rise in enrollment, Hartford, Conn.-based Aetna said today in a statement. The company also said Chief Financial Officer Joseph M. Zubretsky will head a new unit and named Shawn Guertin as his replacement.

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