A few more life insurers and life reinsurers released earnings this week.
Presidential Life Corp., Nyack, N.Y. (Nasdaq:PLFE)
1Q 2011 Results
NET INCOME: $7.5 million
REVENUE: $65 million
1Q 2010 Results
NET INCOME: $1.9 million loss
REVENUE: $60 million
- Low interest rates hurt annuity sales, and annuity surrenders increased 11%.
- The spread, or difference between the average rate the company pays customers and the rate it earns on its own investments, increased to 1 percentage point, from 0.74 percentage points.
Security National Financial Corp., Salt Lake City (Nasdaq:SNFCA)
1Q 2011 Results
NET INCOME: $518,473 loss
REVENUE: $34 million
