Towers Watson & Company and Kansas City Life Insurance Company have reported higher profits.

Towers Watson & Company, New York (NYSE:TW)

2 Q 2010 Results

NET INCOME: $58 million

REVENUE: $750 million

2 Q 2009 Results

NET INCOME: $31 million

REVENUE: $397 million

- Towers Watson has a fiscal year that ends June 30. Results from the second quarter are not really comparable with results from the second quarter of 2009, because Towers Watson was formed from the merger of two other companies since that time.

- On pro forma, “same company” basis, combined revenue dropped about 3%, the company says.

- The company expects revenue to be soft this quarter.

Kansas City Life Insurance Company, Kansas City, Mo. (Nasdaq:KCLI)

2 Q 2010 Results

NET INCOME: $10 million

REVENUE: $106 million

2 Q 2009 Results

NET INCOME: $8 million

REVENUE: $101 million

- Sales of group dental and disability have been increasing; group life renewals fell 1%.

- Variable product deposits and universal life deposits increased; fixed life deposits fell.

- “Insurance operating expenses declined $1.9 million or 8% for the second quarter and $3.8 million or 8% for the six months compared with the prior year,” the company says.

- The decrease in operating expenses “primarily reflects reduced salaries, benefits and separation costs associated with staffing changes that were made during 2009,” the company says. “While many of the effects of the recession have been corrected, reduced or mitigated, many effects continue to impact all of us. Throughout this period, the company has continued to focus on expanding new sales of life insurance, maintaining a strong balance sheet, and improving competitiveness through difficult but important decisions regarding staffing and other costs.”