Oregon Insurers Double Profit From Last Year

Lund Report:

Oregon’s eight largest health insurers continued to shed members and increase profits in the first six months of this year, based on the industry’s latest financial statements released by the Oregon Insurance Division.

In six months alone this year, the group of eight earned more than $100 million in net income, matching their total profits for all of 2009. Most of those gains– some $61.8 million – however, came from investment earnings and not from the business of selling health insurance.

The amount they held in surplus, meanwhile, rose 13 percent from last year, up to $1.9 billion.

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