NU Online News Service, Feb. 11, 2004, 12:13 p.m. EST – Protective Life Corp., Birmingham, Ala., more than doubled its fourth-quarter 2003 sales of stable value contracts.[@@]
The life insurer is reporting $67.6 million in net income for the latest quarter on $474.3 million in revenue, up from $30.3 million in net income on $453.9 million in revenue for the fourth quarter of 2002.
A new program that sells notes backed by registered funding agreements helped increase sales of stable value contracts to $909 million, from $391 million.