Assurant Health’s 2Q net income declines
Insurer Assurant Inc., which operates Assurant Health in Milwaukee, announced that its second-quarter net income dropped 15 percent to $164.7 million, or $1.46 per diluted share, compared with net income of $193.3 million, or $1.63 per diluted share, for the same quarter in 2009.
The company noted that net income in the second quarter included $85 million after-tax from a favorable legal settlement. After-tax net realized gains on investments were $12.5 million for this year’s second quarter, compared with losses of $4 million in the second quarter of 2009.
Net earned premiums in the second quarter were $1.8 billion, down slightly from last year’s second quarter, which Assurant Inc. (NYSE: AIZ) attributed to a decline in premiums at its Assurant Solutions group.
For the first six months of 2010, Assurant Inc.’s net income increased 18 percent to $321.9 million, or $2.80 per diluted share, compared with $273.9 million, or $2.31 per diluted share, for the same period in 2009.
Filed under: marketing by Pascal