Blue Cross Posts Quarterly Decline

Blue Cross of California reported a third-quarter profit of $21.9 million, down from $26.6 million in the year-earlier quarter.

The Woodland Hills-based health insurer, in reporting its results to the California Department of Insurance, said the latest earnings included an $11.6-million underwriting profit, compared with a $5.1-million underwriting loss a year ago. The remaining profit came from investment income.

For the first nine months of 1989, Blue Cross had a profit of $30.4 million, contrasted with a $25-million loss in the same period last year.