The life and health insurers and distributors that released earnings this week came out with solid first-quarter results.

American International Group Inc., New York(NYSE:AIG)
1 Q 2010 Results
NET INCOME: $2.1 billion
REVENUE: $16 billion
1 Q 2009 Results
NET INCOME: $5.1 billion loss
REVENUE: $13 billion
– The domestic life and retirement services business is reporting $327 million in pretax income on $4 billion in revenue, compared with a $1.8 billion prtax loss on $3.4 billion in revenue for the first quarter of 2010, even though premiums and other considations fell 14%, to $$667 million.
– Domestic group retirement products held steady at about $1.6 billion.
– Sales of individual variable annuities increased 36%, to $357 million.
– The net individual fixed annuity spread rate increased to 2.51% in the first quarter, from 0.93%.

Prudential Financial Inc., Newark, N.J. (NYSE:PRU)
1 Q 2010 Results
NET INCOME: $697 million
REVENUE: $9.3 billion
1 Q 2009 Results
NET INCOME: $14 million
REVENUE: $8.5 billion
– The financial services business is reporting $536 million in net income for the first quarter, up from a $5 million net loss for the first quarter of 2009.
– In the U.S. retirement and investment management division, “results benefited $53 million from net reductions in reserves for guaranteed minimum death and income benefits and $21 million from a net reduction in amortization of deferred policy acquisition and other costs, reflecting an updated estimate of profitability for this business,” the company says.
– Group life claims experience was “less favorable” than in the first quarter of 2010.

Principal Financial Group Inc., Des Moines, Iowa (NYSE:PFG)
1 Q 2010 Results
NET INCOME: $204 million
REVENUE: $2.3 billion
1 Q 2009 Results
NET INCOME: $123 million
REVENUE: $2.2 billion
– Group disability claims experience was “unfavorable.”
– Expense management is continuing in the individual life business.
– Accumulation business fee revenue increased 22%, to $61 million.

Nationwide Financial Services Inc., Columbus, Ohio
1 Q 2010 Results
NET INCOME: $62 million
REVENUE: $967 million
1 Q 2009 Results
NET INCOME: $107 million loss
REVENUE: $1 billion
– Nationwide Financial has been an affiliate of of Nationwide Mutual Insurance Company, which is reporting $396 million in net income on $5.1 billion in revenue for the first quarter, up from a $106 million net loss on $4.9 billion in revenue for the first quarter of 2009.
– Other-than-temporary impairment losses fell to $101 million, from $327 million.
– Nationwide terminated the securities registration of notes issued by Nationwide Financial April 26. The financial services subsidiary is now a wholly owned subsidiary of Nationwide, rather than a public company.

Protective Life Corp., Birmingham, Ala. (NYSE:PL)
1 Q 2010 Results
NET INCOME: $32 million
REVENUE: $792 million
1 Q 2009 Results
NET INCOME: $10 million
REVENUE: $723 million
– Variable annuity sales increased to $350 million, from $139 million; fixed annuity sales fell to $218 million, from $298 million.

Primerica Inc., Duluth, Ga. (NYSE:PRI)
1 Q 2010 Results
NET INCOME: $143 million
REVENUE: $607 million
1 Q 2009 Results
NET INCOME: $113 million
REVENUE: $543 million
– Primerica became a stand-alone public company April 1. It had been a subsidiary of Citigroup Inc., New York.

Phoenix Companies Inc., Hartford (NYSE:PNX)
1 Q 2010 Results
NET INCOME: $14 million
REVENUE: $518 million
1 Q 2009 Results
NET INCOME: $75 million loss
REVENUE: $511 million
– “Phoenix is working to develop new relationships with distributors that focus primarily on the middle market, including independent marketing organizations,” Phoenix says. The company “has added nearly two dozen new distribution agreements with IMOs.”
– Saybrus Partners, a new Phoenix unit that sells insurance products from other companies, started up in the first quarter and submitted a total of about 300 applications.

FBL Financial Group Inc., West Des Moines, Iowa (NYSE:FFG)
1 Q 2010 Results
NET INCOME: $18 million
REVENUE: $269 million
1 Q 2009 Results
NET INCOME: $1.5 million loss
REVENUE: $223 million
– Farm Bureau Life sales of traditional annuities fell 18%, and sales of variable annuities increased 8%. Sales of traditional and universal life increased 4%.
– The investment spread on direct fixed annuity liabilities increased to 2.03%, from 1.57%.
– Interest-sensitive and index-product benefits increased to $122 million, from $114 million.

American Equity Investment Life Holding Company, West Des Moines, Iowa (NYSE:AEL)
1 Q 2010 Results
NET INCOME: $15 million
REVENUE: $350 million
1 Q 2009 Results
NET INCOME: $26 million
REVENUE: $183 million
– Annuity sales before coinsurance increased 30%, to $847 million.
– The investment spread on annuity liabilities increased to 3.17%, from 2.97%.
– Interest-sensitive and index-product benefits increased to $197 million, from $60 million.

Kansas City Life Insurance Company, Kansas City, Mo
1 Q 2010 Results
NET INCOME: $963,000
REVENUE: $107 million
1 Q 2009 Results
NET INCOME: $4.5 million loss
REVENUE: $102 million
– Sales of individual life increased 20%, sales of immediate annuities increased 24%, and an increase in group dental sales helped produce a 39% increase in group accident and health premiums.

Unum Group Corp., Chattanooga, Tenn. (NYSE:UNM)
1 Q 2010 Results
NET INCOME: $230 million
REVENUE: $2.6 billion
1 Q 2009 Results

NET INCOME: $165 million
REVENUE: $2.5 billion
– U.S. group disability operating income increased to $76 million, from $58 million, as premiums fell 4.4%, to $522 million.
– The paid-claim incidence rates for short-term and long-term disability insurance increased, but an increase in group LTD claim recoveries helped hold the benefit ratio down.
– Sales of fully insured group LTD fell 13%, to $28 million, and sales of fully insured group STD fell 10%, to $14 million.

Conseco Inc., Carmel, Ind. (NYSE:CNO)
1 Q 2010 Results
NET INCOME: $34 million
REVENUE: $1 billion
1 Q 2009 Results
NET INCOME: $24 million
REVENUE: $1.1 billion
– Colonial Penn collected premiums held steady at $49 million; Bankers Life collected premiums fell to $618 million, from $775 million.
– Bankers Life long term care insurance earnings were about the same as in the first quarter of 2009, the company says.

CIGNA Corp., Philadelphia (NYSE:CI)
1 Q 2010 Results
NET INCOME: $283 million
HEALTH PLAN MEMBERS: 11 million
REVENUE: $5.2 billion
1 Q 2009 Results
NET INCOME: $208 million
HEALTH PLAN MEMBERS: 11 million
REVENUE: $4.8 billion
– Health care retention was strong.

Health Net Inc., Woodland Hills, Calif. (NYSE:HNT)
1 Q 2010 Results
NET INCOME: $16 million
HEALTH PLAN MEMBERS: 3 million
REVENUE: $3.4 billion
1 Q 2009 Results
NET INCOME: $22 million
HEALTH PLAN MEMBERS: 3.6 million
REVENUE: $3.9 billion
– Western Region commercial enrollment at the managed care company “declined by 10.5% from March 31, 2009, to 1.4 million members on March 31, 2010,” Health Net says. “The company believes that persistently high unemployment in its markets, particularly California, is the primary cause of the decrease.”

WellCare Health Plans Inc., Tampa, Fla. (NYSE:WCG)
1 Q 2010 Results
NET INCOME: $6.4 million
HEALTH PLAN MEMBERS: 2.2 million
REVENUE: $1.4 billion
1 Q 2009 Results
NET INCOME: $37 illion loss
HEALTH PLAN MEMBERS: 2.5 million
REVENUE: $1.8 billion
– WellCare runs health plans for Medicare, Medicaid and other government health coverage programs.
– An improvement in Medicaid plan and prescription drug plan performance helped cut medical benefits expenses.

Molina Healthcare Inc., Long Beach, Calif. (NYSE:MOH)
1 Q 2010 Results
NET INCOME: $11 million
HEALTH PLAN MEMBERS: 1.5 million
REVENUE: $967 million
1 Q 2009 Results
NET INCOME: $12 million
HEALTH PLAN MEMBERS: 1.3 million
REVENUE: $861 million
– Molina runs health plans for Medicare, Medicaid and other government health coverage programs.
– Medical costs were down because the influenza season ended up being less severe than the flu season that hit in the first quarter of 2009.

EHealth Inc., Mountain View, Calif. (NASDAQ:EHTH)
1 Q 2010 Results
NET INCOME: $3.2 million
REVENUE: $36 million
1 Q 2009 Results
NET INCOME: $3.1 million
REVENUE: $32 million
– The Web insurance broker says the number of individual and family product applications fell to 135,600, from 141,200 in the first quarter of 2009.
– Total estimated membership increased to 755,200 March 31, up 11% from the total recorded a year earlier.

Ebix Inc., Atlanta (NASDAQ:EBIX)
1 Q 2010 Results
NET INCOME: $12 million
REVENUE: $32 million
1 Q 2009 Results
NET INCOME: $8.3 million
REVENUE: $21 million
– Ebix, the parent of the AnnuityNET annuity order-entry system, says it is developing an exchange that will handle the servicing of U.S. policies and an exchange to handle portability of an annuity policy across multiple U.S. carriers. The company also is developing a life insurance exchange for electronic policy delivery with paramedical exams and electronic signatures. The life exchange would be aimed at both the U.S. and Canadian markets.