May 21, 2010 at 08:00 PM
A few more life insurers reported earnings this week.
National Western Life Insurance Company, Austin, Texas (Nasdaq:NWLI)
1 Q 2010 Results
NET INCOME: $18 million
REVENUE: $144 million
1 Q 2009 Results
NET INCOME: $15 million
REVENUE: $112 million
- Annuity sales were 69% higher in the first quarter than they were in the first quarter of 2009.
Independence Holding Company, Stamford, Conn. (NYSE:IHC)
1 Q 2010 Results
NET INCOME: $16 million
REVENUE: $116 million
1 Q 2009 Results
NET INCOME: $3.1 million
REVENUE: 99 million
- IHC, the parent of American Independence Corp., sells health insurance medical stop-loss programs, and other products.
- Group plan death and long-term disability claims were higher than expected because of “significant cuts in state and municipal budgets as a result of the recession,” according to IHC Chief Executive Officer Roy Thung. “Group claims are beginning to show signs of subsiding subsequent to quarter end.”
American Independence Corp., New York (Nasdaq:AMIC)
1 Q 2010 Results
NET INCOME: $1 million
REVENUE: $23 million
1 Q 2009 Results
NET INCOME: $1.5 million
REVENUE: $27 million
- American Independence is an IHC affiliate that sells health insurance and medical stop-loss programs.
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