Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

SAFECO Reports 1st Quarter Net Income

Your article was successfully shared with the contacts you provided.

NU Online News Service, April 22, 11:07 a.m. – SAFECO Corp., Seattle, is reporting $63 million in net income for the first quarter on $1.7 billion in revenue, compared with an $883 million net loss on $1.7 billion in revenue for the first quarter of 2001.

SAFECO has a life and investments unit as well as property-casualty insurance operations.

SAFECO Life & Investments generated a $59 million pretax profit for the latest quarter, up from $50 million for the comparable quarter in 2001, the company says.

The fixed annuity operation and a program that sells reinsurance for self-funded medical plans did especially well, SAFECO says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.