Business Services Industry
Earnings at Shenandoah Life Insurance Co. Decline 18 Percent in 1998.
Knight Ridder/Tribune Business News, February, 1999 by Kelly, Sandra Brown
Knight Ridder/Tribune Business News
Feb. 20 -- Shenandoah Life Insurance Co. earnings fell 18 percent in 1998 compared with its record year 1997, but still were better than officials had projected, President and CEO Robert W. Clark said Friday at the annual policyholders meeting.
Clark also unveiled a new logo, which features a star and mountain to recognize the company's location in the Roanoke Valley, and previewed a new Web site that gives sales staff everywhere access to policy information.
Net income for 1998 was $13.4 million, down from $16.3 million in 1997, but 34 percent above what the company had planned, Clark said.
Dividends were up 23 percent, though, to $5.4 million from $4.4 million in 1997.
Revenue fell 2.7...
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