Protective Life Corp. has reported a net income of $89.9m, or $1.06 per average diluted share, for the fourth quarter of 2011, compared to $78.6m, or $0.90 per average diluted share, for the same period in 2010.
Operating income was $86.5m, or $1.02 per average diluted share, for the fourth quarter of 2011, compared to $54.1m, or $0.62 per average diluted share, for the same period a year ago.
Life Marketing segment posted a pre-tax operating income of $36m, compared to $40.2m for the same period in the previous year.
Acquisitions segment posted a pre-tax operating income of $41.5m, compared to $21.7m for the same period in the last year.
Protective chairman, president and CEO John Johns said that for the year, operating earnings were up 32%, net income reached a record level and we achieved a full-year operating ROE of 10%.
"The earnings momentum of our franchise returned to pre-financial crisis levels, and we well exceeded our financial plans for the year," added Johns.