HONOLULU -- Hawaii Medical Service Association, the state's largest health insurer, reported a loss of $16.69 million in the second quarter.

HMSA received $373.76 million in dues while paying out $364.94 million in benefits and $38.21 million in administrative expenses, the company said.

HMSA said the losses could have been worse if not for money made from its reserve.

"The second-quarter loss would have been even larger without the $12.32 million in investment income from the HMSA reserve," HMSA's Chief Executive Officer Steve Van Ribbink said in a written statement.

The second quarter results make eight straight quarters of losses, according to HMSA's statement.