LIFE/HEALTH INSURANCE INDUSTRY INCOME ANALYSIS, 2008-THIRD QUARTER 2011 |
($000, end of period)
|
Income statement |
2008 |
2009 |
2010 |
First quarter, 2011 |
Second quarter, 2011 |
Third quarter, 2011 |
First nine months, 2011 |
Premiums, consideration
and deposits |
$625,174,903 |
$510,448,713 |
$581,194,491 |
$157,708,439 |
$157,734,981 |
$161,397,932 |
$476,811,544 |
Net investment income |
162,189,779 |
156,618,379 |
164,137,870 |
40,957,214 |
42,306,410 |
42,131,521 |
125,382,851 |
Separate accounts revenue |
21,177,404 |
20,375,256 |
23,360,670 |
6,328,865 |
6,565,473 |
6,403,096 |
19,297,434 |
Total revenue |
$844,654,719 |
$776,740,653 |
$773,322,505 |
$206,140,538 |
$207,907,944 |
$215,226,535 |
$629,228,085 |
Benefits |
240,185,875 |
244,142,234 |
246,942,971 |
65,185,413 |
63,745,535 |
63,236,012 |
192,146,963 |
Surrenders |
291,562,349 |
228,695,583 |
216,846,811 |
58,777,983 |
58,963,264 |
58,450,620 |
176,187,529 |
Increase in reserves and deposits |
144,209,482 |
99,040,250 |
96,168,553 |
24,463,605 |
30,653,887 |
58,636,531 |
113,750,486 |
Commissions |
51,652,763 |
48,913,210 |
49,293,593 |
11,990,057 |
13,028,400 |
13,500,735 |
38,511,112 |
General and administrative expense |
53,596,284 |
54,217,508 |
56,814,057 |
13,987,619 |
14,410,025 |
14,568,820 |
42,954,180 |
Net transfers to separate accounts |
22,654,948 |
11,116,048 |
29,273,192 |
10,484,529 |
7,354,914 |
5,902,666 |
23,742,109 |
Policyholder dividends |
17,739,431 |
15,004,998 |
14,985,542 |
3,823,854 |
3,845,366 |
3,843,782 |
11,512,769 |
Income tax |
(61,657) |
10,714,369 |
9,009,219 |
3,030,616 |
3,019,775 |
(4,001,563) |
2,048,514 |
Net realized capital gains (losses) |
(50,949,974) |
(28,729,648) |
(16,025,852) |
(3,152,086) |
(2,072,469) |
2,274,862 |
(2,949,780) |
Net income |
(52,312,286) |
21,528,259 |
28,049,199 |
8,763,465 |
4,934,954 |
(3,849,590) |
9,851,982 |
Pre-tax operating income |
(1,423,877) |
60,972,276 |
53,084,270 |
14,946,167 |
10,027,198 |
(10,126,015) |
14,850,276 |
Source: SNL Financial LC. |
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