American Equity net income up significantly
Thursday, May 02, 2013 11:32 AM
American Equity Investment Life Holding Co. reported first-quarter net income of $26 million, or 38 cents per share, compared to first-quarter 2012 net income of $10.5 million, or 16 cents per share.
Operating income for the first quarter of 2013 was $33.5 million, or 49 cents per share, compared to operating income of $29.8 million in the year-ago quarter.
That operating income was the second-highest in the company's history and translates to an 11.2 percent average return on average equity for the trailing 12 months, the West Des Moines-based company said.
Annuity sales for the quarter were $930 million compared with fourth-quarter 2012 annuity sales of $1.07 billion.