8 Insurers Report Q3 Earnings

INN Breaking News, November 5, 2012

Chris McMahon

Ameriprise Financial reported net income from continuing operations for Q3 2012 declined 46 percent to $ 174 million, or $0.79 per diluted share, compared with $322 million, or $1.33 per diluted share, for the same quarter last year. Operating earnings were $289 million, $1.32 per diluted share, compared to $289 million, or $1.19 per diluted share for the same quarter last year. The operating results included a previously announced unfavorable impact of $48 million, or $0.22 per diluted share, an annual review of insurance and annuity valuation assumptions and modeling changes; the non-cash expense compared to an unfavorable impact of $9 million, or $0.04 per diluted share, a year ago. At $2.5 billion for the quarter, net revenues were unchanged. Operating expenses were unchanged at $2.1 billion.

Get access to this article and thousands more...

All Insurance Networking News articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, podcasts, e-books, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders and developing trends.

Already Registered?

Advertisement

Free Site Registration

Advertisement