Anthem raises earnings forecast after lower medical costs drive profit beat
(Reuters) -Health insurer Anthem Inc (ANTM) raised its forecast for full-year adjusted earnings on Wednesday, as lower-than-expected medical costs due to the waning impact of the pandemic helped it beat
The company's upbeat forecast follows that of industry bellwether UnitedHealth Group Inc, which said although demand for deferred procedures was approaching normal levels it had still not increased as feared, leading to lower claims and costs.
In the first quarter, Anthem's benefit expense ratio - an insurer's spending on claims against the premiums it earns - was 86.1%, compared with expectations of 87.8%, according to five analysts polled by Refinitiv.
The company now expects adjusted net income of over
Excluding items, Anthem earned
Net income attributable to shareholders rose to
(Reporting by