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Protective Life To Increase Reported Earnings

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NU Online News Service, Nov. 15, 8:39 a.m. – Protective Life Corp., Birmingham, Ala., says previously announced problems with reinsurance payments have cost it about $4.8 million for the first nine months of the year.

Protective Life will be restating its 2002 earnings to correct the problem, and that should increase net income for the first three quarters to $147 million, the company says.