(Bloomberg) -- Oscar Insurance Corp., the startup backed by Silicon Valley investors, posted losses in New York, Texas and California in the first half of the year, the latest example of insurers both large and small losing money in new markets created by President Barack Obama’s ACA health-care overhaul.
In New York, Oscar’s biggest market, the loss widened to $52.2 million from $15.5 million in the first half of 2015. The insurer also lost $12.9 million in California and $17.9 million in Texas, according to state filings, after starting to sell plans in Dallas, San Antonio and the Los Angeles area this year.
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