NU Online News Service, Dec. 29, 12:12 p.m. EST

The health insurance industry reported a decline of 12.4 percent in net income, to $8.2 billion, as of Sept. 30, compared to the same period in 2008, according to a new analysis by Highline Data.

The Cambridge, Mass.-based data provider of financial and marketing information on insurance companies said while the ten largest companies' ranked by year-end 2008 total assets accounted for 35 percent ($2.8 billion) of the total industry net income during the quarter, considerably outperforming smaller players, 38 percent (335) of the companies reported underwriting losses in the third quarter.

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