Protective Life Corporation (PLC) has registered 13% downfall in net income available to PLC’s common shareowners to $76.2 m, or $0.91 per average diluted share for the second quarter of 2012, against $87.6m, or $1.00, during the same period earlier fiscal.
For the second three months ended on 30 June 2012, its after-tax operating income stood at $70.9m, or $0.85 per average diluted share, with a decrease of 6% from, $75.4m, or $0.86, during the comparable period earlier year.
Net income available to PLC’s common shareowners for the six months ended 30 June 2012 was $175.2m, or $2.10 per average diluted share, up by 20% against $146.5m, or $1.67 for the six months ended 30 June 2011.
After-tax operating income was $170m, or $2.04 per average diluted share, up 23% versus $137.9m, or $1.57 for the first six months last year.
Protective chairman, president and CEO John Johns said, "Our financial results for this quarter and the year to date are well ahead of our plan. Encouraging developments in the quarter included favorable mortality results, sequentially higher life insurance and asset protection sales, positive fund flows in the annuity segment and strong stable value spreads."
The US headquartered Protective Life Corporation offers financial services through the production, distribution and administration of insurance and investment products throughout in the US.