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Benefits Unit Outshines Sisters At Jefferson-Pilot

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NU Online News Service, July 29, 2004, 6:32 p.m. EDT

The employee benefits unit was the start at Jefferson-Pilot Corp., Greensboro, N.C., during the second quarter.[@@]

The company as a whole is reporting $142 million in net income for the latest quarter on $1 billion in revenue, up slightly from $140 million in net income on $916 million in revenue for the second quarter of 2003.

Profits at most Jefferson-Pilot units were flat or down slightly, but profits at the employee benefits unit increased to $20 million, from 13 million. Benefits results were strong because of the effects of an acquisition and a drop in the unit’s loss ratio, Jefferson-Pilot says.