Earnings: AIG, FBL, Others

- Scottish Re Group Ltd., Hamilton, Bermuda, is reporting a $33 million net loss for the first quarter on $606 million in revenue, compared with $14 million in net income on $578 million in revenue for the first quarter of 2006.

Although the company reported a loss, mortality in North America was favorable, the company says.

- Annuity and Life Re (Holdings) Ltd., Hamilton, Bermuda, a reinsurer that has shut down its operations, is reporting $58,948 in net income for the first quarter on $723,465 in revenue, up from a net loss of $355,552 on $211,950 in revenue for the first quarter of 2006.

Annuity and Life Re is continuing to negotiate with a possible buyer of its U.S. insurance company, the company says.

- Conseco Inc., Carmel, Ind., is reporting $10 million in net income for the first quarter on $1.1 billion in revenue, compared with $65 million in net income on $1.1 billion in revenue for the first quarter of 2006.

Bankers Life unit sales of life insurance and Medicare private fee-for-service coverage were strong, but Bankers Life sales of annuities and Medicare supplement insurance dropped, and Conseco Insurance Group unit sales of Medicare supplement and Medicare drug plan products were down. Conseco Insurance Group sales of annuities and specified disease products were up, the company says.

- Universal American Financial Corp., Rye Brook, N.Y., is reporting $4.4 million in net income for the first quarter on $618 million in revenue, up from $7 million in net income on $316 million in revenue for the first quarter of 2006.

Enrollment in the company’s Medicare private fee-for-service program group rapidly, the company says.

- Independence Holding Company, Stamford, Conn., a medical stop-loss carrier that is building a medical insurance business, is reporting $4.6 million in net income for the first quarter on $109 million in revenue, up from $4 million in net income on $87 million in revenue for the first quarter of 2006.

- WellCare Health Plans Inc., Tampa, Fla., is reporting $25 million in net income for the first quarter on $1.2 billion in revenue, up from $17 million in net income on $730 million in revenue for the first quarter of 2006.

The Medicaid and Medicare plan administrator ended the quarter administering health coverage for 1.3 million people, up from 839,000 a year earlier.