An 8% increase in the number of clients with at least $100,000 in assets served helped profits at Ameriprise Financial Inc. during the second quarter.
Ameriprise, Minneapolis, is reporting $286 million in net income for the latest quarter on $4 billion in revenue, up from $338 million in net income on $3.7 billion in revenue for the second quarter of 2005.
In addition to benefiting from the increase in the number of “mass affluent” clients served, Ameriprise benefited from a drop in disability insurance claims and long term care insurance claims, the company says.
In other earnings news:
- WellPoint Inc., Indianapolis, is reporting $751 million in net income for the second quarter on $14 billion in revenue, up from $559 million in net income on $11 billion in revenue for the second quarter of 2005.
The managed care company ended the quarter providing or administering health coverage for 34 million people, up from 29 million a year earlier.
Enrollment in large group plans fell during the quarter, but enrollment in individual and small group plans was higher, WellPoint says.