Wednesday, April 23, 2014 5:20:58 PM
Fletch
Symetra Reports First Quarter 2014 Results and Raises 2014 Guidance
Wed April 23, 2014 4:10 PM|Business Wire About: SYA
Highlights
Adjusted operating income1 of $65.7 million was up 33% from first quarter 2013, driven by improved earnings in the Benefits Division. Adjusted operating income per diluted share1 was $0.56, up from $0.36 in first quarter 2013.
Net income was $79.3 million, or $0.68 per diluted share, up from $66.0 million, or $0.48 per diluted share, in first quarter 2013.
Benefits loss ratio improved to 57.1% from 68.5% in first quarter 2013.
Higher fixed indexed annuity account values delivered a significant earnings contribution in Deferred Annuities.
Strong year-over-year growth in sales of annuities, individual life, and group life and disability income.
Guidance range for 2014 Operating EPS raised to $1.80-$2.00.
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