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AmerUs Reports Higher 1st Quarter Net

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NU Online News Service, May 8, 12:04 p.m. – AmerUs Group Company, Des Moines, Iowa, is reporting $25 million in net income for the first quarter on $362 million in revenue, up from $12 million in net income on $233 million in revenue for the first quarter of 2001.

AmerUs sells life insurance and annuities. The company’s income and revenue were up in the latest quarter in part because of the acquisition of Indianapolis Life.

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Thanks to the acquisition and internal growth, investment income increased 32%, to $240 million, in spite of a drop in the portfolio yield.

Insurance premium revenue increased 61%, to $92 million, and universal life and annuity charges increased 76%, to $43 million.