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Markets News

Health insurer Anthem quarterly profit slumps 81% on higher costs

Oct 28 (Reuters) - U.S. health insurer Anthem Inc reported an 81.2% fall in quarterly profit on Wednesday, due to higher costs and as pandemic-triggered layoffs across sectors led to lower demand for its high-margin health plans from employers.

Net income fell to $222 million, or $0.87 per share, in the third quarter, from $1.18 billion, or $4.55 per share, a year earlier.

Reporting by Manojna Maddipatla in Bengaluru; Editing by Shinjini Ganguli

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