Torchmark Corp., a Birmingham-based life and health insurance firm, had revenue of $684.7 million during the second quarter of 2001, up 10% from $625 million a year earlier. But the company’s net income fell from $83.3 million to $73.2 million for the quarter, which ended June 30.
Direct response sales of policies declined slightly, from $125.7 million a year ago to $124.3 million. In second quarter 2000, direct response sold premiums made up $31.2 million, or 24.8% of the total sales. In the quarter just ended, they totaled $30 million, or 24.1%, with slight declines seen in both health and life insurance policies sold.
The company did announce earlier this year that its gross direct response sales would drop. According to spokesperson Joyce Lane, Torchmark eliminated some of its lower-margin direct response products earlier in 2001.
Lane cited the cost of generating direct mail pieces
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