Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Annuities > Fixed Annuities

Expense Cuts Improve AmerUs 2Q Profits

Your article was successfully shared with the contacts you provided.

NU Online News Service, Aug. 4, 2004, 4:23 p.m. EDT

Steady sales of equity indexed annuities and efforts to cut operating expenses helped AmerUs Group Inc., Des Moines, Iowa, increase second-quarter profits.[@@]

The life insurer is reporting $49 million in net income for the latest quarter on $344 million in revenue, up from $44 million in net income on $456 million in revenue for the second quarter of 2003.

The company’s sales of fixed annuities fell to $427 million, from $468 million for the second quarter of 2003, but AmerUs notes that the percentage of sales coming from equity indexed annuities increased to 82%, from 78%.

EIA profit margins tend to be higher than traditional fixed annuity profit margins, AmerUs says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.