More life insurers, life settlement companies and insurance distributors came out this week with reports of increases in first-quarter net income.
ULLICO Inc., New York
1 Q 2010 Results
NET INCOME: $2.4 million
REVENUE: $84 million
1 Q 2009 Results
NET INCOME: $1.7 million
REVENUE: $73 million
- ULLICO, a multiline insurer that serves union members and union employers, says life and health business unit pre-tax earnings increased to $3.3 million, from $2.5 million in the first quarter of 2009. Medical stop-loss results improved.
Presidential Life Corp., Nyack, N.Y. (Nasdaq:PLFE)
1 Q 2010 Results
NET INCOME: $2.2 million
REVENUE: $66 million
1 Q 2009 Results
NET INCOME: $8.4 million loss
REVENUE: $41 million
- Annuity surrenders fell 49% from the first quarter of 2009, to about $29 million; total annuity sales fell 44%, to $34 million.
Life Partners Holdings Inc., Waco, Texas (Nasdaq: LPHI)
1 Q 2010 Results
NET INCOME: $29 million
REVENUE: $113 million
1 Q 2009 Results
NET INCOME: $27 million
REVENUE: $104 million
- Life Partners, a life settlement firm, has a fiscal year that ends Feb. 28.