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WellPoint Reports Second Quarter 2009 Results
Date:7/29/2009

INDIANAPOLIS, July 29 /PRNewswire-FirstCall/ -- WellPoint, Inc. (NYSE: WLP) today announced that second quarter 2009 net income was $693.5 million, or $1.43 per share, including net investment losses of $0.07 per share. Net income in the second quarter of 2008 was $750.5 million, or $1.44 per share, which included net investment losses of $0.03 per share.

"We are pleased with our earnings per share results for the second quarter. We are managing diligently through these turbulent economic times and are currently taking a number of steps that will improve our future performance," said Angela F. Braly, president and chief executive officer. "We are in the midst of the 2010 National Account selling season and are having an outstanding sales year. With our leading value proposition of broad networks and superior discounts, we already have 14 new or expansion sales for 2010 and expect another year of significant membership growth in that business."

"We also continue to advocate responsible health care reform. We are working with policy-makers on sustainable solutions to increase access to coverage while improving both the cost and quality of health care," added Braly.

"We are providing better customer service through faster claims payments, as evidenced by our claims inventory levels, which have declined by 39 percent from the second quarter of last year and by 24 percent since year-end 2008," said Wayne S. DeVeydt, executive vice president and chief financial officer. "Our subsidiaries remain very well-capitalized with statutory capital levels $5.6 billion higher than state regulatory requirements, and $2.4 billion higher than Blue Cross and Blue Shield requirements as of June 30, 2009. We now expect operating cash flow in excess of $2.9 billi
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SOURCE WellPoint, Inc.
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