- Life insurance sales grow after first quarter
- May 13, 2014
Operating revenues, excluding realized gains on investments and realized and unrealized gains on index options, increased to 155.9 million dollars for the quarter ended March 31, 2014, compared to 154.3 million dollars reported in the first quarter of 2013.
Mr. Moody noted from National Western Life, “The first quarter of the year is typically the slowest in terms of sales volume, so it was gratifying to see life insurance sales grow eight percent compared to the first quarter of last year.”
Compared to the prior quarter, sales of life insurance products were higher, lower in individual long term care insurance (LTC) and lower in fixed annuities. Genworth is transitioning to a broader set of competitive product offerings and sales are expected to increase in 2014 from current levels.
Atlantic American reports that life, health, property and casualty insurance premiums increased 5.4 and 45.9 percent, respectively, in the first quarter 2014 compared to first quarter 2013.
According to Prudential, “First quarter results are a solid start to the year. Our Annuities, Retirement, and Asset Management businesses are benefiting from sustained growth of account values and assets under management, driving strong underlying earnings momentum.”
“MetLife had a solid quarter,” said Steven A. Kandarian, chairman, president and chief executive officer of MetLife, Inc. “While our legal settlement with New York had an impact on earnings, strong investment income and significant cost savings helped the bottom line. MetLife’s commitment to enhancing long term shareholder value was demonstrated by the recently announced 27 percent increase in our common stock dividend.”
“The Hartford’s first quarter earnings were outstanding, reflecting the strong fundamentals of the P&C, Group Benefits and Mutual Funds businesses,” said The Hartford’s Chairman, President and CEO Liam E. McGee. Reports from Lincoln Financial that life insurance average in-force of 620 billion dollars grew five percent and average account values of 40 billion dollars increased seven percent over the prior-year quarter.
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