CUNA Mutual Group's operating revenues are behind schedule for the first six months of 1995.

During the first half of the year, the industry's largest provider of insurance products brought in $882 million, which is up from $845 million in the year-earlier period but 6.7% below target, according to CUNA Mutual.

Operating revenue grew at 4.3% through June, well off from the 18% target set by Mike Kitchen, chief executive of the Madison, Wis., mutual insurance company.

Mr. Kitchen has said he wants the company to double operating revenues in five years.

Operating expenses also came in below target, though not as much as operating revenues.

For the first six months of 1995, expenses came in at $257.8 million, 4.5% below projected costs. Expenses also were about $8 million higher than in the year-earlier period.

Cutting expenses has been one of Mr. Kitchen's priorities since coming into office this spring, and employees have been asked to come up with ideas - which have included reusing packing peanuts.

The company also has reexamined some contracts and brought more activities in-house, said Larry H. Blanchard, vice president of communications and public relations for the company.

The amount paid out in benefits came in at $765 million, $67 million less than anticipated. The insurer paid out $719 million in the first six months of 1995.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.