American Equity Investment Life Holding Company has reported total revenues of $350.4m for the first quarter of 2010, an increase of 91% compared to $182.6m for the same quarter in 2009.
The company’s operating income for the quarter were $25.7m, or $0.43 per diluted share compared to $23.3m, or $0.42 per diluted share for the same period last year.
The company posted income before taxes of $22.6m for the first quarter of 2010 compared to $35m for the same quarter in 2009.
For the quarter ended March 31, 2010, the company posted a net income of $14.8m, or $0.25 per diluted share compared to $26.4m, or $0.48 per diluted share for the same period last year.
Headquartered in West Des Moines, Iowa, American Equity Investment life Holding Company, through its wholly-owned operating subsidiaries, is a full service underwriter fixed annuity and life insurance products, with a primary emphasis on the sale of index and fixed rate index annuities.