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AmerUs Reports Lower 4th Quarter Net Income

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NU Online News Service, Feb. 7, 2:18 p.m. – AmerUs Group Company, Des Moines, Iowa, is reporting $7.2 million in net income for the fourth quarter of 2002 on $365 million in revenue, down from $20 million in net income on $401 million in revenue for the fourth quarter of 2001.

Results for the latest quarter include $47 million in investment losses, up from $10 million in investment losses for the comparable quarter in 2001.

Cash and cash equivalents fell to $103 million at the end of 2002, down from $179 million a year earlier.

Deferred acquisition costs increased to $884 million, from $643 million.

Sales of fixed life insurance increased to $34 million in the latest quarter, up from $28 million, but sales of fixed annuities fell to $514 million, from $550 million.


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