Aetna’s first quarter profits fell 7 percent despite higher revenues from healthcare premium increases.
The Hartford-based health insurer said its net income for the quarter ending March 30, 2016, was $726.6 million, or $2.06 per share, compared to $777.5 million, or $2.20 per share, in the same quarter a year ago.
Aetna said its profit decline was primarily due to lower operating earnings in its group insurance segment, driven by lower underwriting margins in disability products.
The company is on track to close its acquisition of Humana in the second half of 2016, said Mark T. Bertolini, Aetna chairman and CEO. Aetna has proposed acquiring the Louisville, Ky., health insurer for $37 billion.
