For the second week in a row, most life and health insurers that released their latest quarterly financial results reported profits.
Ameriprise Financial Inc., Minneapolis (NYSE:AMP)
4 Q 2009 Results
NET INCOME: $274 million
REVENUE: $2.3 billion
NET INVESTMENT INCOME: $535 million gain
4 Q 2008 Results
NET INCOME: $399 million loss
REVENUE: $1.3 billion
NET INVESTMENT INCOME: $32 million loss
- The company retained 93% of its clients.
- Variable annuities attracted $400 million in net inflows.
- Universal life sales were about 200% higher than they were in the fourth quarter of 2008.
Aflac Inc., Columbus, Ga. (NYSE:AFL)
4 Q 2009 Results
NET INCOME: $251 million
REVENUE: $4.6 billion
NET REALIZED INVESTMENT CHANGE: $307 million loss
4 Q 2008 Results
NET INCOME: $197 million
REVENUE: $4.3 billion
NET REALIZED INVESTMENT CHANGE: $262 million loss
- The investment loss figure for the latest quarter includes $126 million in impairments on three perpetual securities issued by issuers that may be able to meet their contractual payment obligations, Aflac says.
- Premiums from total new annualized U.S. sales fell 6.3%, to $419 million.
Unum Group Corp., Chattanooga, Tenn. (NYSE:UNM)
4 Q 2009 Results
NET INCOME: $199 million
REVENUE: $2.5 billion
NET REALIZED INVESTMENT CHANGE: $26 million loss
4 Q 2008 Results
NET INCOME: $42 million
REVENUE: $2.3 billion
NET REALIZED INVESTMENT CHANGE: $258 million loss
- U.S. group disability operating income increased to $73 million, from $60 million, as the ratio of benefits paid to premiums fell to 84.6%, from 88.7%.
- Sales of fully insured group long-term disability products fell 2.6%, about $75 million.
- Sales of fully insured group short-term disability products increased 12.3%, to $35 million.
- Sales of group life and accidental death and dismemberment products dropped 8.2%
- Voluntary sales of individual disability fell 10.4%, and group long term care sales fell 28%.
- Colonial Life unit sales increased 3.7%, to $120 million.
Assurant Inc., New York (NYSE:AIZ)
4 Q 2009 Results
NET INCOME: $12 million
REVENUE: $2.2 billion
GOODWILL IMPAIRMENT: $83 million loss
4 Q 2008 Results
NET INCOME: $182 million
REVENUE: $2.2 billion
GOODWILL IMPAIRMENT: 0
- The good will impairment "relates to goodwill that arose from a 2001 acquisition in Assurant Employee Benefits," the company says. "The charge does not impact cash flow from operations or the company's outlook for the business."
- Assurant Health and Assurant Employee Benefits spent a total of $3.9 million on restructuring charges during the quarter.
- Small group health premiums fell 8%.
CIGNA Corp., Philadelphia (NYSE:CI)
4 Q 2009 Results
NET INCOME: $330 million
REVENUE: $4.6 billion
HEALTH CARE MEMBERS: 11 million
4 Q 2008 Results
NET INCOME: $209 million loss
REVENUE: $4.8 billion
HEALTH CARE MEMBERS: 11 million
Health Net Inc., Woodland Hills, Calif. (NYSE:HNT)
4 Q 2009 Results
NET INCOME: $45 million loss
REVENUE: $3.8 billion
HEALTH CARE MEMBERS: 3 million
4 Q 2008 Results
NET INCOME: $36 million
REVENUE: $3.9 billion
HEALTH CARE MEMBERS: 3.1 million
- "The year-over-year decrease in membership is primarily due to higher unemployment as a result of economic pressures," Health Net says.
MetLife Inc., New York (NYSE:MET) also reported earnings this week. For MetLife's earnings, please see MetLife Confirms Alico Talks.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.