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EARNINGS

First Executive Posts $41.4-Million Profit

August 13, 1986|BRUCE KEPPEL

First Executive Corp. reported earnings for the quarter ended June 30 of $41.4 million, up from $31.9 million for the same period a year ago. Revenue rose to $896.6 million from $683.5 million.

For the six months, the Los Angeles-based insurance holding company, parent of Executive Life Insurance, California's largest life insurer, said earnings totaled $78 million on revenue of $1.7 billion.

That compares to net income of $57.8 million for the first half of 1985 on revenue of $1.5 billion.

The company reported itself free of debt as of June 30, with assets of $10.7 billion, shareholders' equity of $1.185 billion and total capitalization exceeding $1.3 billion, while insurance in force increased to $40.5 billion from $35.3 billion last Dec. 31.

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