Insurer Conseco to report 2Q profit

Insurer Conseco said expects to post a profit in the second quarter because of a much smaller investment loss.
JUL 29, 2009
By  Bloomberg
Insurer Conseco said expects to post a profit in the second quarter because of a much smaller investment loss. Conseco yesterday said it expects to make $15.8 million to $27.8 million, or 9 to 15 cents, per share for the quarter ended June 30, compared with a loss of $488.5 million, or $2.65 per share, in the year-ago period. Investment losses are expected to range from $13 million to $25 million for the quarter compared with $513.7 million in the year ago quarter. Conseco said it expects to make 22 cents a share before investment losses, matching expectations of analysts surveyed by Thomson Reuters. The company expects to release final results for the quarter on Aug. 4. Conseco shares jumped 40 cents, or 21 percent, in after-hours trading to $2.30, after falling 2 cents during the regular session. The shares have traded between 26 cents and $10 over the past years.

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave