US-based Symetra Financial has reported net income of $74.2 m,or, $0.54 per diluted share, for the fourth quarter of 2011,compared to $62.2m, or $0.45 per diluted share, for the same period in 2010.
Net investment income has increased to $333.2m for the fourth quarter 2011, compared to $311m for the same period a year ago.
Total revenues increased to $561.6m, compared to $495.4m for the same period in the prior year.
Sales increased to $26.5m, compared to $15.1m in 2010, driven by higher medical stop-loss sales.
Symetra president and CEO Tom Marra said said that the Benefits segment’s loss ratio for the quarter was stellar and they continue to be pleased with the performance of the recently acquired American United Life medical stop-loss business.
"Income on higher account values improved fourth quarter earnings in Deferred Annuities, while higher bank-owned life insurance account values boosted life results. Income Annuities earnings declined in the fourth quarter, in part due to mortality losses." added Marra.