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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based WellPoint Inc. lost an estimated $349 million on its investments during the last three months of 2008, the company said in a regulatory filing today.
That comes on top of a loss of $562.6 million reported for the third quarter. More than half of that was attributed to investments in failed investment bank Lehman Brothers and Fannie Mae and Freddie Mac, mortgage companies seized by the federal government.
The loss likely will affect fourth-quarter profit, but company officials cannot disclose details before complete financial results are released Jan. 28.
The operator of Blue Cross health plans said net income rose to $820.7 million in the third quarter, compared with $868 million in the same period last year. Revenue fell 1.8 percent to $14.96 billion.
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