BIRMINGHAM, Ala.—Insurance and investment products provider Protective Life Corp. Thursday issued 2008 earnings guidance that could miss or exceed current Wall Street estimates.
Protective Life said it expects to earn between $3.80 and $4.20 per share in 2008.
The earnings estimate is based on the ongoing effect of run-off of older policies, competitive pricing pressures and underwriting of life insurance business, Protective Life, said in a statement.
Analysts polled by Thomson Financial, on average, forecast earnings of $4.12 per share for the year.
Protective Life's 2008 earnings estimate includes a 7 cents per share charge to retire debt.
© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
