Life and health earnings reports poured out this week.
LIFE/ANNUITY
Prudential Financial Inc., Newark, N.J. (NYSE:PRU)
2Q 2011 Results
NET INCOME: $867 million
REVENUE: $12 billion
2Q 2010 Results
NET INCOME: $1.1 billion
REVENUE: $11 billion
-A increase in asset-based fees and growth in variable annuity account values helped annuity unit operating income.
- At the individual U.S. life insurance business, mortality experience was better during the latest quarter than it was during the second quarter of 2010.
- Prudential set aside $20 million to increase the reserves backing annuity minimum income and death benefit guarantees.
American International Group Inc., New York (NYSE:AIG)
2Q 2011 Results
NET INCOME: $1.8 billion
REVENUE: $17 billion
2Q 2010 Results
NET INCOME: $2.7 billion loss
REVENUE: $18 billion
- Variable annuity deposits increased 68% from the second quarter of 2010, to $832 million.
Lincoln National Corp., Radnor, Pa. (NYSE:LNC)
2Q 2011 Results
NET INCOME: $325 million
REVENUE: $2.8 billion
2Q 2010 Results
NET INCOME: $255
REVENUE: $2.6 billion
- Individual annuities operating income rose 21%, to $150 million.
- Life insurance sales rose 12%, to $152 million.
Principal Financial Group Inc., Des Moines, Iowa (NYSE:PFG)
2Q 2011 Results
NET INCOME: $258 million
REVENUE: $2.1 billion
2Q 2010 Results
NET INCOME: $134 million
REVENUE: $1.9 billion
- Individual life insurance earnings fell to $24 million in the second quarter, from $26 million in the second quarter of 2010, because of unfavorable mortality rates.
Phoenix Companies Inc., Hartford (NYSE:PNX)
2Q 2011 Results
NET INCOME: $4.4 million
REVENUE: $475 million
2Q 2010 Results
NET INCOME: $10 million
REVENUE: $503 million
- Annuity deposits increased to $191 million in the second quarter, up from $27 million in the second quarter of 2010.
American Equity Investment Life Holding Company, West Des Moines, Iowa (NYSE:AEL)
2Q 2011 Results
NET INCOME: $18 million
CHANGE IN FAIR VALUE OF DERIVATIVES: $22 million loss
REVENUE: $295 million
2Q 2010 Results
NET INCOME: $1.5 million loss
CHANGE IN FAIR VALUE OF DERIVATIVES: $209 million loss
REVENUE: $67 million
FBL Financial Group Inc., West Des Moines, Iowa (NYSE:FFG)
2Q 2011 Results
NET INCOME: $38 million
DERIVATIVE INCOME: $300 thousand
REVENUE: $268 million
2Q 2010 Results
NET INCOME: $22 million
DERIVATIVE INCOME: $54 million loss
REVENUE: $198 million
Universal American Corp., Rye Brook, N.Y. (NYSE:UAM)
2Q 2011 Results
NET INCOME: $4.9 million loss
REVENUE: $577 million
2Q 2010 Results
NET INCOME: $21 million
REVENUE: $875 million
- Universal American sells Medicare health coverage, administrative services for long term care insurance plans and other senior products and services.
- Net results include expenses related to the sale of the company's Medicare Part D prescription drug business. Net income from continuing operations was $7.9 million.
Kansas City Life Insurance Company, Kansas City, Mo. (Nasdaq: KCLI)
2Q 2011 Results
NET INCOME: $11 million
REVENUE: $104 million
2Q 2010 Results
NET INCOME: $ 10 million
REVENUE: $ 107 million
NON-MEDICAL HEALTH
Unum Group Corp., Chattanooga, Tenn. (NYSE:UNM)
2Q 2011 Results
NET INCOME: $230 million
REVENUE: $2.6 billion
2Q 2010 Results
NET INCOME: $210 million
REVENUE: $2.5 billion
- Group disability reported operating income of $78.5 million, down from $84.1 million for the second quarter of 2010 The company says the economic climate and high employment levels led to the decline in premium income.
- Individual disability reported operating income of $10 million, down from $12 million for the second quarter of 2010.
Magellan Health Services Inc., Avon Conn. (Nasdaq:MGLN)
2Q 2011 Results
NET INCOME: $35 million
REVENUE: $742 million
2Q 2010 Results
NET INCOME: $34 million
REVENUE: $698 million
- Magellan manages behavioral health care and other forms of health care, such as radiology services.
HEALTH
Humana Inc, Louisville, Ky. (NYSE:HUM)
