Ameriprise Increases Variable Annuity Sales 3%

October 25, 2018 by Allison Bell

The third quarter was pretty good for Ameriprise Financial Inc., but not that great for the company’s annuity operations.

The Minneapolis-based financial services company is reporting $503 million in net income for the quarter on $3.3 billion in revenue, compared with $507 million in net income on $3 billion in revenue for the third quarter of 2017.

Revenue at the company’s advice and wealth management unit increased 11%, to $1.6 billion, and pretax operating earnings there increased 19%, to $355 million.

Click HERE to read the full story via ThinkAdvisor.

Originally Posted at ThinkAdvisor on October 24, 2018 by Allison Bell.