April 18 (Reuters) - Elevance Health ( ELV ) beat Wall

Street estimates for first-quarter profit on Thursday, as higher

premiums in its commercial insurance business helped keep

medical costs for the insurer in check.

On an adjusted basis, the company made a profit of $10.64

per share, above analysts' estimates of $10.53 per share,

according to LSEG data.

Health insurers have struggled in recent quarters with high

medical costs, and a cyberattack at industry bellwether

UnitedHealth's ( UNH ) technology unit Change Healthcare has

raised uncertainty around insurance claims processing.

UnitedHealth ( UNH ) on Tuesday

said

medical costs dropped from higher rates hit late last year.

UnitedHealth ( UNH ) had relaxed, or removed, prior authorization

processes for some claims following the hack, stoking concerns

of an increase in medical costs.

Elevance's quarterly revenues from premiums was $35.7

billion, above analysts' expectations of $35.54 billion.

The company's medical loss ratio, the percentage of

claims paid to premiums collected, was 85.6% for the first

quarter. Analysts had expected a ratio of 85.97%, according to

LSEG data.

Elevance said in March that the cyberattack has impacted its

electronic data submissions from providers, the majority of

which were claims related. However, prior approvals, provider

payments, and pharmacy claims were not materially impacted for

Elevance.