Earnings: ULLICO, Access Plans

By Staff Writer

November 21, 2008 at 11:00 AM

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ULLICO Inc., a company that focuses on selling insurance to labor organizations, turned a profit in the third quarter.

Here is a summary of the latest earnings news from ULLICO and other companies in the life and health insurance industry:

ULLICO Inc., Washington

3 Q 2008 Results

NET INCOME: $2.1 million

REVENUE: $69 million

3 Q 2007 Results

NET INCOME: $19 million loss

REVENUE: $76 million

- ULLICO is the parent of The Union Labor Life Insurance Company and other life and property-casualty insurers that serve labor unions.

- Low group life and direct marketing mortality helped the life and health unit increase pretax earnings to $2.6 million, from $1.4 million.

- Revenue was down because of a decision to stop actively marketing group health coverage.

Access Plans USA Inc., Irving, Texas

3 Q 2008 Results

NET INCOME: $828,000 loss

REVENUE: $8.7 million

3 Q 2007 Results

NET INCOME: $7.8 million loss

REVENUE: $7.5 million

- Access Plans is in the process of merging with Alliance HealthCard Inc., Norman, Okla.

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