Genworth Financial, Inc., Richmond, Va. (NYSE: GNW), reported net income of $29 million, or $0.06 per diluted share, compared with net income of $83 million, or $0.17 per diluted share, in the third quarter of 2010.
Net operating income for the third quarter of 2011 was $104 million, or $0.21 per diluted share, compared with net operating income of $29 million, or $0.06 per diluted share, in the third quarter of 2010.
Citizens, Inc., Austin, Tex. (NYSE: CIA), posted net income for the third quarter ended September 30 of $2.2 million or $0.05 per diluted share. This compares with net income of $1.7 million or $0.03 per diluted share, for the year-ago period.
Revenue for the third quarter of 2011 totaled $48.5 million, as compared to $45.5 million for the same period last year.
FBL Financial Group, Inc., West Des Moines, Iowa (NYSE: FFG), reported net income for the third quarter of 2011 of $27.6 million, or $0.88 per diluted common share. This compares to net income of $28.7 million, or $0.93 per diluted common share, for the third quarter of 2010.
Revenue for the third quarter totaled $199.2 million, as compared to $297.6 million for the year-ago period, a 49% decline.
In other financial news:
American International Group, Inc., New York (NYSE: AIG) has authorized the repurchase of shares of AIG common stock, par value $2.50 per share, with an aggregate purchase amount of up to $1 billion from time to time in the open market, through derivative or automatic purchase contracts or otherwise.
The company says the timing of such purchases will depend on market conditions, AIG’s financial condition, results of operations, liquidity and other factors. The authorization replaces prior common stock repurchase authorizations.
Delphi Financial Group, Inc., Wilmington, Del. (NYSE: DFG), declared a cash dividend of $0.12 per share on the company’s common stock for the fourth quarter of 2011. The dividend will be payable on December 1, 2011 to shareholders of record at the close of business on November 17, 2011.
The board of directors of Phoenix Life Insurance Company, Hartford, Conn., voted to adjust its policy dividend scale effective January 1, 2012 for all participating life insurance policies in the company’s closed block.
Because the scale adjustment is relatively modest, the annual dividend payable in 2012 on about half of the policies will be an increase from 2011, although not as large as previously projected under the 2011 scale, Phoenix Life says.
Phoenix projects it will pay its participating policyholders approximately $219 million in dividends in 2012. The actual impact of the dividend scale adjustment on particular policies will vary based on a number of factors, including product type, age at issue and length of time the policy has been in force.