The life insurers, health insurers and distributors that released earnings this week reported solid second-quarter results.
MetLife Inc., New York (NYSE:MET)
2 Q 2010 Results
NET INCOME: $1.5 billion
REVENUE: $14 billion
2 Q 2009 Results
NET INCOME: $1.4 billion loss
REVENUE: $8.3 million
– Group life revenue and group dental revenue increased; group disability revenue fell.
– MetLife Chairman C. Robert Henrikson says the proposed MetLife acquisition of Alico from American International Group Inc., New York (NYSE:AIG) is still pending.
Genworth Financial Inc., Richmond, Va. (NYSE:GNW)
2 Q 2010 Results
NET INCOME: $45 million
NET REALIZED INVESTMENT CHANGE: $122 million loss
REVENUE: $2.4 billion
2 Q 2009 Results
NET INCOME: $258 million loss
NET REALIZED INVESTMENT CHANGE: $816 million loss
REVENUE: $2.5 billion
– Long term care insurance earnings increased $5 million, to $47 million. Individual LTC insurance sales increased $9 million and were especially strong in the independent sales channel. Group LTC sales increased to $3 million in the quarter, up from $1 million a year ago, while linked benefit sales grew to $12 million, up from $5 million a year ago.
– Variable annuity sales increased 11%.
=- Pension closeout sales dropped.
American National Insurance Company, Galveston, Texas (NasdaqGS:ANAT)
2 Q 2010 Resus
NET INCOME: $27 million
REVENUE: $751 million
2 Q 2009 Results
NET INCOME: $4.4 million loss
REVENUE: $728 million
-
Aflac Inc., Columbus, Ga.. (NYSE:AFL)
2 Q 2010 Results
NET INCOME: $581 million
REVENUE: $5.0 billion
2 Q 2009 Results
NET INCOME: $314 million
REVENUE: $4.3 billion
– Aflac is a major seller of cancer insurance and other products in Japan, and the strong yen helped increase total revenue 9.2%, to $3.8 billion.
Reinsurance Group of America Inc., Chesterfield, Mo. (NYSE:RGA)
2 Q 2010 Results
NET INCOME: $127 million
REVENUE: $1.9 billion
2 Q 2009 Results
NET INCOME: $153 million
REVENUE: $1.8 billion
– U.S. mortality was about average.
– U.K sales were strong.