- Universal American reports that "investment income is an important part of our total revenues and profitability.
- Stephen Taub
CFO.com | US - March 19, 2008
Another non-bank company is feeling the effects of the subprime crisis. Universal American Corp., which provides a broad array of health insurance and managed care products and services, mainly to senior citizens, announced that it would write down $26.7 million worth of sub-prime holdings. The company took the action after its auditors concurred that the market value of the securities became "other than temporarily impaired" as of year-end....
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