1990 Profit Highest in History of Blue Cross

Blue Cross of California reported a $108.6-million profit for 1990, a 47% increase from its $74 million in earnings the previous year and the highest profit in the company’s 55-year history.

The Woodland Hills-based health insurer, which has rebounded strongly from massive losses of a few years ago, said $37.9 million of its earnings came in the fourth quarter of 1990.

Also, Blue Cross said $72.2 million of the 1990 profit came from its basic insurance underwriting operations, triple its $23.8-million underwriting profit the previous year.