Penn Treaty American Corporation Reports Strong Earnings for 1994

Strategic Insights -

Penn Treaty American Corporation, a leading provider of individual fixed, defined benefit, accident and health insurance products, has announced its operating results for the fourth quarter and full year 1994. The company reported net income of $1,726,577 for the quarter, a 10.4% increase from the same period in 1993. For the full year, net income totaled $6,762,801, a 16.2% increase from the previous year. The company's earnings per share also increased by 16.7% to $2.17 per share.

Key Takeaways:

  • Penn Treaty American Corporation reported net income of $1,726,577 for the fourth quarter of 1994, a 10.4% increase from the same period in 1993.
  • The company's earnings per share increased by 16.7% to $2.17 per share for the full year 1994.
  • Premium revenue for the quarter totaled $21,121,128, a 14.3% increase over the previous year's three-month total of $18,483,444.
  • The company's new business revenue totaled $23,278,000 for the year ended December 31, 1994, an increase over the previous year's total of $21,663,000.
  • Irving Levit, president and chief executive officer of Penn Treaty American Corporation, stated that the company is pleased with the year-end figures and anticipates continued success in the long-term care marketplace.
  • The company is licensed to conduct business in 44 states and the District of Columbia, and its subsidiaries include Penn Treaty Life Insurance Company, Network America Life Insurance Company, and Senior Financial Consultants Company.

Statistics:

  • Net income for the fourth quarter of 1994: $1,726,577
  • Net income for the full year 1994: $6,762,801
  • Earnings per share for the full year 1994: $2.17 per share
  • Premium revenue for the quarter: $21,121,128 (14.3% increase)
  • New business revenue for the year: $23,278,000 (increase from $21,663,000)
  • States in which the company is licensed to conduct business: 44 states and the District of Columbia

Sources:

  • Penn Treaty American Corporation press release
  • PRNewswire, March 20, 1995
  • Investor Relations, Penn Treaty American Corporation