Protective Life Corporation Above 3Q Esitmates

Protective Life Corporation PL reported 3Q'10 operating EPS of $0.71, which was above with the Street estimate of $0.66 “and our estimate of $0.64,” Deutsche Bank reports. Life Marketing continued to be poor, while Annuities and Corporate were better than expected. “Book value per share (ex-AOCI) increased to $34.66 from $33.95 in 2Q'10. The annualized ROE was 8.5%,” Deutsche Bank writes. Protective Life Corporation currently trades at $24.59.