Symetra Reports 3Q Results
October 27, 2015 by Business Wire
- Sales were up year-over-year across the Benefits, Retirement and Individual Life divisions; Retirement achieved a second consecutive quarter of over $1 billion in sales.
- Benefits loss ratio of 63.7% came in favorable to the target range, on a larger premium base.
- Deferred Annuities account values grew to $17.1 billion, from $14.8 billion a year ago, driving continued growth in investment margin.
- Prepayment income, net of related amortization, was $18.4 million, compared with $5.1 million in third quarter 2014.
- Net realized losses (pretax), including mark-to-market losses, were $56.4 million, compared with $14.8 million in third quarter 2014.
- Net realized losses and tax credit investments drove the tax benefit for the quarter.
- On August 11, 2015, announced agreement to be acquired by Sumitomo Life.
BELLEVUE, Wash.–(BUSINESS WIRE)– Symetra Financial Corporation (NYSE: SYA) today reported third quarter 2015 adjusted operating income1 of $56.1 million, or $0.48 per diluted share,1 compared with $45.5 million, or $0.39 per diluted share, for the third quarter of 2014.
For the third quarter of 2015, net income was $19.6 million, or $0.17 per diluted share, compared with $36.0 million, or $0.31 per diluted share, in the third quarter of 2014. After-tax realized losses totaled $36.5 million in the third quarter of 2015, compared with $9.5 million in the third quarter of 2014. Click HERE to read article
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