Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

Earnings: Presidential Life, Security National, Scottish Re

By staff Writer

X
Your article was successfully shared with the contacts you provided.

A few more life insurers and life reinsurers released earnings this week.

Presidential Life Corp., Nyack, N.Y. (Nasdaq:PLFE)

1Q 2011 Results

NET INCOME: $7.5 million

REVENUE: $65 million

1Q 2010 Results

NET INCOME: $1.9 million loss

REVENUE: $60 million

- Low interest rates hurt annuity sales, and annuity surrenders increased 11%.

- The spread, or difference between the average rate the company pays customers and the rate it earns on its own investments, increased to 1 percentage point, from 0.74 percentage points.

Security National Financial Corp., Salt Lake City (Nasdaq:SNFCA)

1Q 2011 Results

NET INCOME: $518,473 loss

REVENUE: $34 million

1Q 2010 Results

NET INCOME: $951,233 loss

REVENUE: $38 million

- Life insurance revenue increased 19%, to $17 million, and life insurance earnings increased to $1.1 million, from $155,410.

- Death care revenue – revenue from cemetery and mortuary services, increased 2%, to $3 million.

Scottish Re Group Ltd., Hamilton, Bermuda (Pink Sheets:SRKRRF.pk)

1Q 2011 Results

NET INCOME: $22 million

REVENUE: $166 million

1Q 2010 Results

NET INCOME: $100 million

REVENUE: $231 million

Other earnings columns from National Underwriter Life & Health:

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.