Insurance

Southern Cross posts big loss

Wednesday 18th of September 2002

Southern Cross lost $41.2 million in the year to June 30, after writing $19.1 million off the value of recently acquired subsidiary Aetna Health. The health insurer said the rest of the loss was due to a lower underwriting surplus, lower investment earnings and higher overheads.

A big contributor to the lower underwriting surplus was th...

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