A life insurance distributor says growing use of new digital application system helped it fight off some of the effects of the U.S. Department of Labor's fiduciary rule.
The Marketing Alliance Inc. (TMA) is reporting $265,076 in net income for the third quarter on $7.7 million in revenue, compared with a net loss of $59,682 on $6.3 million in revenue for the third quarter of 2016.
The St. Louis-based company distributes life insurance, annuities and long-term care insurance through a network of independent agencies. It also owns an earth moving and excavation business and nine children's play and party facilities.
(Related: Permanent Life Insurance: A Win-Win Product)
Commission revenue at the insurance distribution unit increased to $6.1 million, from $4.9 million.
The amount of commissions and bonuses the company paid also increased, to $4.5 million, from $3.5 million.
