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Life Health > Health Insurance > Life Insurance Strategies

Earnings Results: Aflac, Ameriprise, Assurant Genworth, Principal, Symetra

By Warren S. Hersch

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Aflac Inc., Columbus, Ga. (NYSE: AFL) reported fourth quarter 2011 revenue of $6.0 billion, a 12.9% rise compared with $5.3 billion in the fourth quarter of 2010. Net earnings totaled $546 million, or $1.17 per diluted share, compared with $437 million, or $.92 per share, a year ago.  

Operating earnings in the fourth quarter were $691 million, compared with $628 million in the fourth quarter of 2010. Operating earnings per diluted share rose 11.3% to $1.48 in the quarter, compared with $1.33 a year ago.

Total revenues were up 6.9% to $22.2 billion, compared with $20.7 billion a year ago. Net earnings were $2.0 billion, or $4.18 per diluted share, compared with $2.3 billion, or $4.95 per share, in 2010.

Operating earnings for the full year were $3.0 billion, or $6.33 per diluted share, compared with $2.6 billion, or $5.53 per diluted share, in 2010.

Ameriprise Financial, Inc., Minneapolis (NYSE: AMP), reported fourth quarter 2011 operating earnings of $312 million, or $1.33 per diluted share, compared to $340 million, or $1.31 per diluted share, a year ago. Net income from continuing operations attributable to Ameriprise Financial for the fourth quarter of 2011 was $240 million, or $1.02 per diluted share, compared to $306 million, or $1.18 per diluted share, a year ago.

On a full-year basis, the company delivered “record” operating earnings and net revenues driven by strong growth in its fee-based advisory and asset management businesses. Compared to 2010, operating net revenues grew 10 percent to $10.1 billion, operating earnings grew 4 percent to $1.2 billion, and operating earnings per diluted share increased 10 percent to $5.00.

Assurant, Inc., New York (NYSE: AIZ) reported net operating income of $154.3 million, or $1.65 per diluted share, compared to fourth quarter 2010 net operating income of $115.8 million, or $1.08 per diluted share. Assurant’s net operating income for the year totaled $444.7 million, or $4.55 per diluted share, compared to $560.1 million, or $5.02 per diluted share in 2010.

Net income for 2011 was $545.8 million, or $5.58 per diluted share, compared to $279.2 million, or $2.50 per diluted share in 2010. After-tax net realized gains were $21.1 million in 2011, compared to $31.5 million in 2010.

Genworth Financial, Inc., Richmond, Va. (NYSE: GNW), reported net income of $107 million or $0.22 per diluted share for the fourth quarter of 2011. This compares with a net loss of $161 million, or $0.33 per diluted share, in the fourth quarter of 2010. Genworth’s net operating income for the fourth quarter of 2011 was $86 million, or $0.17 per diluted share, compared with a net operating loss of $135 million, or $0.28 per diluted share, in the fourth quarter of 2010.

Principal Financial Group, Inc. (NYSE: PFG), Des Moines, Iowa, reported net income available to common stockholders of $682.0 million, or $2.15 per diluted share for the twelve months ended Dec. 31, 2011, compared to $666.3 million, or $2.06 per diluted share for the twelve months ended Dec. 31, 2010. Operating revenues for the year 2011 were $8,325.1 million compared to $8,041.9 million for the same period last year.

The company reported operating earnings of $217.1 million for the three months ended Dec. 31, 2011, compared to $214.1 million for the three months ended Dec. 31, 2010. Operating earnings per diluted share (EPS) were $0.71 for the three months ended Dec. 31, 2011, compared to $0.66 for the three months ended Dec. 31, 2010.

The company reported net income available to common stockholders of $164.0 million, or $0.54 per diluted share for the three months ended Dec. 31, 2011, compared to $199.3 million, or $0.62 per diluted share for the three months ended Dec. 31, 2010. Operating revenues for the fourth quarter 2011 were $2,103.1 million compared to $2,106.5 million for the same period last year.

Symetra Financial Corporation, Bellevue, Wash. (NYSE: SYA), reported fourth quarter 2011 net income of $74.2 million, or $0.54 per diluted share. This compares with $62.2 million, or $0.45 per diluted share, in fourth quarter 2010. For full-year 2011, Symetra produced net income of $199.6 million, or $1.45 per diluted share, compared with $200.9 million, or $1.48 per diluted share, in 2010.

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