Life and health earnings reports continued to pour out onto the wires this week.
LIFE/ANNUITY
MetLife Inc., New York (NYSE:MET)
1Q 2011 Results
NET INCOME: $1 billion
REVENUE: $16 billion
1Q 2010 Results
NET INCOME: $834 million
REVENUE: $13 billion
- U.S. annuity sales were higher 34% higher than in the first quarter of 2010.
Prudential Financial Inc., Newark, N.J. (NYSE:PRU)
1Q 2011 Results
NET INCOME: $608 million
REVENUE: $10 billion
1Q 2010 Results
NET INCOME: $697 billion
REVENUE: $9.2 billion
- Group insurance annualized new business premiums increased to $500 million, from $346 million in the first quarter of 2010.
- Individual life annualized new business premiums fell to $65 million, from $68 million.
American International Group Inc., New York (NYSE:AIG)
1Q 2011 Results
NET INCOME: $473 million
REVENUE: $17 billion
1Q 2010 Results
NET INCOME: $2.4 billion
REVENUE: $19 billion
- The domestic life unit reported $338 million in pretax income on $2 billion in revenue, up from $227 million in pretax income on $2.1 billion in revenue for the first quarter of 2010.
- The domestic retirement unit reported $602 million in pretax income on $1.9 billion in revenue, compared with $100 million in pretax income on $1.9 billion in revenue for the first quarter of 2010.
Hartford Financial Services Group Inc., Hartford (NYSE:HIG)
1Q 2011 Results
NET INCOME: $511 million
REVENUE: $6.3 billion
1Q 2010 Results
NET INCOME: $319 million
REVENUE: $6.3 billion
- Wealth management product sales were strong.
- Individual life sales were 13% higher than in the first quarter of 2010.
- "Elevated disability loss ratios and intense competition" were a challenge for the group benefits business, the company says.
Principal Financial Group Inc., Des Moines, Iowa (NYSE:PFG)
1Q 2011 Results
NET INCOME: $196 million
REVENUE: $2 billion
1Q 2010 Results
NET INCOME: $191 million
REVENUE: $2 billion
- U.S. retirement and investor services product sales were strong.
- Special benefits sales were strong, and individual life sales increased 35%.
Genworth Financial Inc.., Richmond, Va. (NYSE:GNW)
1Q 2011 Results
NET INCOME: $116 million
REVENUE: $1.4 billion
1Q 2010 Results
NET INCOME: $212 million
REVENUE: $1.5 billion
- Long term care insurance sales increased to $65 million, from $56 million.
Protective Life Corp., Birmingham, Ala. (NYSE:PL)
1Q 2011 Results
NET INCOME: $67 million
REVENUE: $837 million
1Q 2010 Results
NET INCOME: $70 million
REVENUE: $792 million
Phoenix Companies Inc., Hartford (NYSE:PNX)
1Q 2011 Results
NET INCOME: $6.1 million loss
REVENUE: $488 million
1Q 2010 Results
NET INCOME: $12 million loss
REVENUE: $544 million
American Equity Investment Life Holding Company, West Des Moines, Iowa (NYSE:AEL)
1Q 2011
NET INCOME: $31 million
REVENUE: $453 million
1Q 2010 Results
NET INCOME: $26 million
REVENUE: $350 million
- Annuity sales increased 58%, to $1.3 billion.
Primerica Inc., Duluth, Ga. (NYSE:PRI) DONE
1Q 2011 Results
NET INCOME: $81 million
REVENUE: $276 million
1Q 2010 Results
NET INCOME: $220 million
REVENUE: $607 million
- Primerica went public through an initial public offering (IPO) April 1, 2010.
Kansas City Life Insurance Company, Kansas City, Mo. (Nasdaq:KCLI)
1Q 2011 Results
NET INCOME: $4.8 million
REVENUE: $108 million
3Q 2009 Results
NET INCOME: $963,000
REVENUE: $107 million
SPECIALTY
Unum Group Corp., Chattanooga, Tenn. (NYSE:UNM)
1Q 2011 Results
NET INCOME: $225 million
REVENUE: $2.6 billion
1Q 2010 Results
NET INCOME: $230 million
REVENUE: $2.6 billion
- Sales of fully insured group long-term disability increased 6.9% from the first quarter of 2010, to about $29 million; sales of fully insured short-term disability fell about 2%, to $14 million..
- Group disability claims incidence was somewhat higher than in the fourth quarter of 2010, but the recovery rate was also higher. The benefit ratio improved to 83.9%, from 84.2%.
CNO Financial Group Inc., Carmel, Ind. (NYSE:CNO)
1Q 2011 Results
NET INCOME: $54 million
REVENUE: $1 billion
1Q 2010 Results
NET INCOME: $34 million
REVENUE: $1 billion
- Operating income at Bankers Life increased to $64 million, from $53 million.
HEALTH INSURANCE
Humana Inc., Louisville, Ky. (NYSE:HUM)
1Q 2011 Results
NET INCOME: $315 million loss
HEALTH PLAN MEMBERS: 11 million
REVENUE: $9.2 billion
1Q 2010 Results
NET INCOME: $259 million
HEALTH PLAN MEMBERS: 10 million
REVENUE: 8.4 billion
- The retail benefit ratio increased to 85.8%, from 83.9%.
CIGNA Corp., Philadelphia (NYSE:CI)
1Q 2011 Results
NET INCOME: $429 million loss
HEALTH PLAN MEMBERS: 12 million
REVENUE: $5.4 billion
1Q 2010 Results
NET INCOME: $283 million
HEALTH PLAN MEMBERS: 12 million
REVENUE: 5.2 billion
- International medical enrollment increased to 1.1 million, from 599,000.
Health Net Inc., Woodland Hills, Calif. (NYSE:HNT)
1Q 2011 Results
NET INCOME: $108 million loss
HEALTH PLAN MEMBERS: 2.9 million
REVENUE: $3.5 billion
1Q 2010 Results
NET INCOME: $16 million
HEALTH PLAN MEMBERS: 3 million
REVENUE: 3.4 billion
- Commercial yields in the Western region were lower than expected, partly because of "more over-age adult dependents" enrolled in plans and greater-than-expected benefits buydowns.
- The Western region medical care ratio fell to 87.4%, from 87.5% in the first quarter of 2010.
Triple-S Management Corp., San Juan, Puerto Rico (NYSE:GTS)
1Q 2011 Results
NET INCOME: $10 million
HEALTH PLAN MEMBERS: 823,776
REVENUE: $508 million
1Q 2010 Results
NET INCOME: $11 million
HEALTH PLAN MEMBERS: 1.4 million
REVENUE: $520 million
- Triple-S is the Blue Cross and Blue Shield licensee in Puerto Rico.
- Enrollment dropped because of the loss of Medicaid contracts. The Medicaid program provided or administered health coverage for 534,225 people.
- The commercial medical loss ratio fell to 87.3%, from 90.0%.in the first quarter of 2010.
DISTRIBUTION
National Financial Partners Corp., New York (NYSE:NFP)
1Q 2011 Results
NET INCOME: $6.9 million
REVENUE: $233 million
1Q 2010 Results
NET INCOME: $7 million
REVENUE: $225 million
- Before the crisis hit, NFP was growing rapidly through acquisitions. This quarter, "same store" revenue increased 5.1%, the company says.
Other life insurer earnings coverage from National Underwriter Life & Health:
- Earnings: Ameriprise, Lincoln, Torchmark, Symetra, RGA, Aflac, Assurant, Universal, Magellan, StanCorp, WellPoint, Aetna, Coventry, HealthSpring, Centene, Aon, EHealth
- Earnings: UnitedHealth, Molina
- Earnings: MetLife, Prudential, Principal, Torchmark, Phoenix, Allstate, Protective, Primerica, Humana, Coventry, Centene, Triple-S, NFP, Brown
- Earnings: Hartford, Ameriprise, Genworth, Lincoln, Symetra, FBL, RGA, Aflac, Unum, Assurant, Aetna, CIGNA, Health Net, Aon, Towers Watson
- Earnings: MetLife, Ameriprise, Genworth, Symetra, RGA, Aflac, Assurant, Torchmark, CIGNA, Molina, Centene, Aon, EHealth
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