Torchmark Corp. is hoping new producers will help its earnings.[@@]
Torchmark, Birmingham, Ala., is reporting $119 million in net income for the third quarter on $621 million in revenue, compared with $124 million in net income on $616 million in revenue for the third quarter of 2004.
First-year life sales were up at some distribution units but down 28% at an agency that serves military personnel, Torchmark says.
The company notes that its career agencies are trying to increase sales by adding new agents.
The number of producing agents at the company’s LNL Agency unit increased to 1,835 Sept. 30, up 12% from the total recorded a year earlier, Torchmark says.