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August 04, 2005 at 08:00 PM
Health insurance loss ratios fell but long-term disability insurance loss ratios rose at Assurant Inc. during the second quarter.[@@]
Assurant, New York, is reporting $128 million in net income for the latest quarter on $1.9 billion in revenue, up from $95 million in net income on $1.8 billion in revenue for the second quarter of 2004.
Net operating income at the company’s health insurance unit increased 24%, to $49 million, because of a relatively low ratio of claims to premium revenue.
Net operating income at the benefits unit decreased 30%, to $9.8 million. One reason for the drop was a “decrease in claim closures caused largely by fewer deaths among disabled insureds,” Assurant says in a discussion of its results.
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