UPDATE 1-WellPoint sees Q4 investment losses of $349 mln

NEW YORK, Jan 12 (Reuters) - WellPoint Inc (WLP.N) expects to record $349 million in net investment losses after taxes for the fourth quarter, the health insurer said on Monday.

The preliminary estimate, provided by the largest U.S. health insurer by membership ahead of an investment conference, comes after WellPoint posted net investment losses of $562.6 million before taxes for the third quarter. It posted third-quarter net income of $820.7 million.

The rocky markets have taken their toll on health insurers, which maintain more extensive reserves and investments than most other types of companies because of statutory requirements.

WellPoint estimated its aggregate statutory capital levels as exceeding Blue Cross and Blue Shield Association requirements by about $1.6 billion as of Dec. 31 and state regulatory levels by about $4.6 billion. WellPoint operates Blue Cross and Blue Shield plans.

The company is set to report fourth-quarter earnings on Jan. 28. (Reporting by Lewis Krauskopf; Editing by Lisa Von Ahn)