Phoenix Cos. Inc., a Hartford, Conn., company that sells an array of life insurance, annuities, and investment products, said its third-quarter operating income fell 9.3% from a year earlier, to $34.2 million, or 30 cents a share.
The average estimate of analysts polled by Thomson Financial had called for the insurer to report operating income of 26 cents a share.
Phoenix said Wednesday that its third-quarter revenue increased 0.97%, to $644 million, as its assets under management increased 5.9%, to $46.5 billion.
