The third quarter was pretty good for Ameriprise Financial Inc., but not that great for the company’s annuity operations.
The Minneapolis-based financial services company is reporting $503 million in net income for the quarter on $3.3 billion in revenue, compared with $507 million in net income on $3 billion in revenue for the third quarter of 2017.
(Related: Ameriprise Execs Describe Ideal Annuity and LTCI Suitors)
Revenue at the company’s advice and wealth management unit increased 11%, to $1.6 billion, and pretax operating earnings there increased 19%, to $355 million.