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Earnings: MetLife, Genworth, RGA, Aflac, American National, WellPoint, Aetna, Coventry, Aon, EHealth

By staff Writer

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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
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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.

WellPoint Inc., Indianapolis (NYSE:WLP)
2 Q 2010 Results
NET INCOME: $1.6 billion
HEALTH PLAN MEMBERS: 33 million
REVENUE: $30 billion
2 Q 2009 Results
NET INCOME: $1.3 billion
HEALTH PLAN MEMBERS: 34 million
REVENUE: $31 billion
– Selling expense amounted to 2.8% of revenue.
– Fully insured enrollment fell by 976,000 members during the quarter, mostly because of the conversion of an 873,000-member municipal account to a self-funded arrangement, the copany says.

Aetna Inc., Hartford (NYSE:AET)
2 Q 2010 Results
NET INCOME: $491 million
HEALTH PLAN MEMBERS: 19 million
REVENUE: $8.5 billion
2 Q 2009 Results
NET INCOME: $347 million
HEALTH PLAN MEMBERS: 19 million
REVENUE: $8.7 billion
– Enrollment in plans that include health savings accounts or health reimbursement arrangements increased to 2.2 million at the end of the second quarter, up from 1.8 million a year earlier.

Coventry Health Care Inc., Bethesda, Md.
2 Q 2010 Results
NET INCOME: $1 million
HEALTH PLAN MEMBERS: 4.9 million
REVENUE: $2.9 billion
2 Q 2009 Results
NET INCOME: $18 million
HEALTH PLAN MEMBERS: 5.2 million
REVENUE: $3.5 billion
– Coventry had a consolidated total medical loss ratio of 79.1%, down from 86.4% in the second quarter of 2009. The cost of sales amounted to 2.2% of total premium and management services revenue.
– The company recorded a $49 million loss from discontinued Medicare Advantage private fee-for-service operations.
– Net results include a $278 million charge related to provider class-action litigation in Louisiana.

Aon Corp., Chicago (NYSE:AON)
2 Q 2010 Results
NET INCOME: $158 million
REVENUE: $1.9 billion
2 Q 2009 Results
NET INCOME: $155 million
REVENUE: $1.9 billion

EHealth Inc., Mountain View, Calif. (NASDAQ:EHTH)
2 Q 2010 Results
NET INCOME: $3.0 million
REVENUE: $36 million
2 Q 2009 Results
NET INCOME: $4.0 million
REVENUE: $33 million
– The number of submitted applications for individual and family products fell 3% from the second quarter of 2009, to 117,200.

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